Director/PDMR Shareholding

RNS Number : 6728I

Spirent Communications PLC

16 March 2010

 



SPIRENT COMMUNICATIONS PLC

DIRECTORS / PDMR SHAREHOLDINGS

London, UK - 16 March 2010: Spirent Communications plc ("the Company") (LSE: SPT), a leading communications technology company, would like to notify the market in accordance with the Financial Services Authority's ("FSA") Disclosure and Transparency Rules of the following changes in the interests of a Director / Person Discharging Managerial Responsibility:

On 16 March 2010, Eric Hutchinson, Chief Financial Officer:

i)          exercised options over 1,128,000 Ordinary shares of 3&1/3 pence each ("Ordinary Shares") in the Company granted on 5 August 2004 under the Spirent 1995 Executive Share Option Scheme at an exercise price of £0.5550 and sold the resulting Ordinary Shares at a price £1.201268 per Ordinary Share;

ii)         exercised 638,700 Stock Appreciation Rights ("SARs") granted at a base price of £0.5300 on 25 August 2005 and 544,650 SARs granted at a base price of £0.4750 on 5 May 2006, both arising from the Spirent 2005 Employee Incentive Plan.  At a Fair Market Value of £1.2280, this resulted in a gain due to Mr Hutchinson of £855,934.05 which the Company will fund through the sale of Ordinary Shares.

After these transactions, Mr Hutchinson has a beneficial interest in the Company of 1,205,581 Ordinary Shares (0.1770% of the Company's issued Ordinary Share capital at the date of this announcement) and holds 854,150 share incentive awards.

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Enquiries

Rachel Whiting                          Spirent Communications plc                   [phone]

Company Secretary

About Spirent Communications plc

Spirent Communications plc is a leading communications technology company focused on delivering innovative systems and services to meet the needs of customers worldwide.  We are a global provider of testing and service assurance solutions that enable the development and deployment of next-generation networking technologies such as Ethernet, Triple Play, wireless, satellite positioning, web applications and security.  The Systems group develops power control systems for electrical vehicles in the mobility and industrial markets.  Further information about Spirent Communications plc can be found at www.spirent.com.

Spirent Communications plc Ordinary Shares are traded on the London Stock Exchange (ticker: SPT).  The Company operates a Level 1 American Depositary Receipt ("ADR") programme with each ADR representing four Spirent Communications plc Ordinary Shares.  The ADRs trade in the US over-the-counter ("OTC") market under the symbol SPMYY and the CUSIP number is 84856M209.  Spirent ADRs are quoted on the Pink OTC Markets electronic quotation service which can be found at www.pinksheets.com.

Spirent and the Spirent logo are trademarks or registered trademarks of Spirent Communications plc.  All other trademarks or registered trademarks mentioned herein are held by their respective companies.  All rights reserved.

This document may contain forward-looking statements which are made in good faith and are based on current expectations or beliefs, as well as assumptions about future events.  You can sometimes, but not always, identify these statements by the use of a date in the future or such words as "will", "anticipate", "estimate", "expect", "project", "intend", "plan", "should", "may", "assume" and other similar words.  By their nature, forward-looking statements are inherently predictive and speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.  You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to factors that could cause our actual results to differ materially from those expressed or implied by these statements.  The Company undertakes no obligation to update any forward-looking statements contained in this document, whether as a result of new information, future events or otherwise.

 

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