Director/PDMR Shareholding

RNS Number : 7324H

Speedy Hire PLC

24 June 2013

 



Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Management Responsibilities
("PDMRs")

The Company announces the following transactions by PDMRs in the Company's ordinary 5p shares ("Shares"):

2013 PSP and CIP Awards

On 21 June 2013, awards (the "PSP Awards") were made under the Company's 2004 Performance Share Plan ("PSP") and an award of Matching Shares (the "Matching Share Award") was also made under the Company's 2004 Co-Investment Plan ("CIP"). The PSP Awards and the Matching Share Award are rights to acquire Shares for nil consideration, subject to the rules of the PSP and the CIP and to the satisfaction of the applicable performance targets.

No consideration was payable on the grant of either the PSP Awards or the Matching Share Award.

The PSP Awards and the Matching Share Award will normally be exercisable (to the extent performance targets are met) within a 90-day period following notification to awardholders that performance targets have been met to any extent - usually following the third anniversary of the date of grant (21 June 2016) in the case of the PSP Awards, and following the announcement of the Company's results for the year ended 31 March 2016 in the case of the Matching Share Award.

PSP

Awards have been made to PDMRs in respect of the number of Shares set out below:

Name	Number of shares subject to PSP Award
Steve Corcoran	590,508
Mike McGrath	365,949
Lynn Krige	415,851
David Graham	308,823
James Blair	182,974
Ian Scapens	109,589
Tracey Atkin	93,933

CIP

In accordance with the rules of the CIP, Lynn Krige has committed a sum of £50,000 (before tax) out of annual bonus to the purchase of Bonus Award Shares for the purposes of the CIP

The (net) bonus funds were applied by Sanne Trust Company Limited, the trustee of the Speedy Hire Employee Benefits Trust, to purchase the Bonus Award Shares on behalf of Lynn Krige, acquiring 45,008 Shares (in the market) at an average price of £0.584651 per Share.

A Matching Share Award in relation to 171,042 Shares (equivalent to approximately £100,000 in value, being the gross bonus amount committed multiplied by the specified Award Multiple of 2) has been made to Lynn Krige subject to the rules of the CIP and the applicable performance target.

The above notification is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4.

- ends -

Enquiries:

James Blair

Group Company Secretary

Speedy Hire Plc

Telephone:  [phone]

 

END

 

 

RDSUSRSROBANUAR