Director/PDMR Shareholding

RNS Number : 2294Y

Smiths Group PLC

17 December 2010

 



Smiths Group plc
DTR 3.1.4R(1) 

Notification of Transaction of Directors, Persons Discharging Managerial Responsibility or Connected Persons

Smiths Group plc ("the Company") announces that, following the approval of the Smiths Group 2010 Value Sharing Plan ("the Plan") at the 2010 Annual General Meeting of the Company, awards over ordinary shares of 37.5p each in the Company ("Shares") were granted under the Plan on 17 December 2010 to persons discharging managerial responsibility ("PDMRs") as set out below. 

Full details of the Plan are set out in the Notice of AGM dated 13 October 2010 (the "Notice"). Under the Plan, participants are conditionally awarded a specified number of Shares for achieving predetermined levels of outperformance of the relevant hurdle, expressed as a number of Shares for every £5m of surplus value created.  Performance will be measured over the three year period ending 31 July 2013.  Participants will not receive any Shares if the relevant hurdle is not exceeded.  

For participants with group-wide responsibilities surplus value will be determined separately by reference to two performance conditions - the Company's total shareholder return performance ("Surplus Shareholder Value") and profit before tax performance ("Surplus Internal Value") as further set out in the Notice.

Details of the awards  under the Plan are as follows:

Director / PDMR	Number of Shares accrued by reference to each £5m of Surplus Value created above the relevant hurdle:
	Surplus Shareholder Value	Surplus Internal Value
Philip Bowman (Director)	240	560
Peter Turner (Director)	96	224
Michael Herlihy	48	112
Brian Jones	48	112
Terry Nolan	48	112

For participants with divisional responsibilities, surplus value will be determined by reference only to the relevant division's internal value in excess of a hurdle ("Surplus Divisional Value").

Details of the awards under the Divisional Value Sharing Plans are as follows:

PDMR	Number of Shares accrued by reference to each £5m of Surplus Divisional Value created above the relevant hurdle:
Tedd Smith (Flex Tek)	1760
Srini Seshadri (Medical)	820
Ralph Phillips (Interconnect)	1120
Stephen Phipson (Detection)	672
Paul Cox (John Crane)	358

Name of contact and telephone number for queries: Sarah Cameron - 0207 808 5573 

Name of duly authorised officer of issuer responsible for making notification: Sarah Cameron, Company Secretary

Date of notification: 17 December 2010. 

 

END

 

 

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