Long Term Incentive Plan

RNS Number : 5766F

TT electronics PLC

27 April 2011

 



TT electronics plc

Long Term Incentive Plan

TT electronics plc ("the Company") announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") has been made today to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

Executive Director/PDMR	Maximum Number of Shares
Geraint Anderson	216,285
Shatish Dasani	148,108
Tim Roberts	108,142
Billal Hammoud	80,955
Patrick Murray	69,426
John Molloy	46,284
Paul Felbeck	35,000
John Leighton-Jones	35,000
Wendy Sharp	26,000

No consideration is payable for the award.

The award will vest in three years from the date of grant, subject to achievement of the performance conditions.  Two separate performance targets apply:

The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets.  25 per cent of the shares subject to this part of the award will vest for EPS growth of 10 per cent compound per annum in excess of the Retail Price Index ("RPI"), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 15 per cent compound per annum in excess of RPI.

The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts).  25 per cent of the shares subject to this part of the 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.

For further information please contact:

TT electronics plc

Geraint Anderson, Group Chief Executive:                              Tel:  [phone]

Biddicks

Zoë Biddick:                                                                                Tel:  [phone]

 

END

 

 

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