Director/PDMR Shareholding

RNS Number : 0666I

SIG PLC

04 December 2015

 



SIG plc

4 December 2015

Ordinary Shares of 10p each

Pursuant to DTR 3.1.4 and following a notification received on 4 December 2015 in fulfilment of the obligations imposed by DTR 3.1.2 we hereby announce that the following award has been granted to a PDMR.

SIG plc (the "Company") announces that on 4 December 2015, a "phantom award" was granted in respect of 206,819 ordinary shares to Mr Christian Horn (Group Operations Director).  This phantom award is granted on terms equivalent to the LTIP awards granted on 17 September 2015 and subject to the same performance conditions, but is a right to receive a cash sum calculated by reference to the value of the relevant number of shares on vesting, and gives no right to the shares themselves.

Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 3 December 2018.

The performance conditions subject to which the options have been granted are as follows:

1.     Two thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche").  The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.

Average Return on Capital Employed (ROCE) for FY2015-2017	% of  ROCE Tranche vesting
11% or less	Nil
Above 11% but less than 14%	Between 0% and 100% on a straight-line basis
14% and above	100%

2.     The remaining one third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche").  The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.

Cumulative Underlying EPS for FY2015-2017	% of  EPS Tranche vesting
Less than 38 pence	Nil
38 pence to 48 pence	25% to 100% on a straight-line basis
Above 48 pence	100%

R C Monro

Company Secretary             0114 285 6355

 

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