Director/PDMR Shareholding

RNS Number : 1573B

TT Electronics PLC

02 January 2015

 



2 January 2015

TT Electronics plc

APPOINTMENT OF NEW CFO / NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Further to the announcement made on 10 December 2014, TT Electronics plc ("the Company" or "TT"), a global provider of performance critical technology solutions to leading manufacturers, confirms that Mark Hoad succeeded Shatish Dasani as Chief Financial Officer and joined the TT Board on 1 January 2015.

The following notifications are made in accordance with DTR 3.1.4(1)(a) of the Disclosure and Transparency Rules.

Long Term Incentive Plan 2014 ("LTIP")

The Company announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") was made on 29 December 2014 to Mark Hoad, in connection with his recruitment:

Executive Director/PDMR	Maximum number of Shares
Mark Hoad	330,452

No consideration is payable for the award.

The award will normally vest on 1 January 2018, subject to achievement of a three year performance condition ending 31 December 2017, based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts).  25 per cent of the Shares subject to this award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.

Ordinary shares held on appointment

On 10 December 2014, 40,000 shares were purchased by Tracy Hoad, a connected person of Mark Hoad, at a purchase price of 103.25p per share.

2 January 2015

For further information please contact:

Hudson Sandler
Andrew Hayes/Wendy Baker/Katie Matthews:  Tel: [phone]

 

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