Director/PDMR Shareholding

RNS Number : 6004G

Terrace Hill Group PLC

07 June 2013

 



Terrace Hill Group PLC ("Terrace Hill" or "the Company")

Notification of Awards under the Terrace Hill Group PLC Performance Share Plan

Terrace Hill Group PLC (AIM: THG) announces the following grant of nominal cost options over ordinary shares in the Company of 2 pence each ("Shares") with an exercise price per Share of 2 pence ("Awards") to certain directors of the Company under the Company's Performance Share Plan ("PSP") on 7 June 2013.

Name	Total Awards granted on 7 June 2013	Total Awards outstanding on 7 June 2013
Robert Adair, Executive Chairman	2,134,688	3,254,235
Philip Leech, Chief Executive	2,134,688	3,254,235
Jon Austen, Group Finance Director	1,808,663	3,351,284

Further details of the Awards are set out below.

Notes

1.         A further 2,733,460 Awards were granted to employees of the Company on 7 June 2013;

2.         The Awards will ordinarily vest following the third anniversary of the grant date, but only to the extent that the following performance criteria are satisfied over the Company's next three financial years commencing with the current financial year:

a.   EPRA Triple Net Asset Value must increase more than 2.5% per annum more than RPI for 25% vesting and must increase by more than 12.5% per annum more than RPI for 100% vesting

b.   Total Shareholder Return must be equal to the movement in the FTSE 350 Real Estate Index for 25% vesting and must exceed the FTSE 350 Real Estate Index by 15% for 100% vesting

There is equal weighting attached to each of these performance conditions. To the extent that the Awards vest, they will be exercisable from vesting until 6 June 2023, assuming the participant remains in Terrace Hill employment;

3.         No consideration is payable on the grant of the Awards;

4.         The Company has 211,971,299 Ordinary Shares of 2p each in issue;

5.         There are no shares held in treasury so the total voting rights in the Company are therefore 211,971,299;

6.         The Company now has a total of 17,066,350 Awards outstanding, under the Terrace Hill Group PLC Performance Share Plan, representing 8.05% of the issued Ordinary Share Capital; and

7.         The notification of these Awards is intended to satisfy the Company's obligations under the AIM rules.

For further information please contact:

Philip Leech/Jon Austen                                              Tel. [phone]

Terrace Hill Group PLC

Mark Young/Gareth Price                                              Tel: [phone]

Oriel Securities Limited

(Nominated Adviser and Broker)

 

END

 

 

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