Long Term Incentive Plan

RNS Number : 9700C

TT electronics PLC

09 May 2012

 



9 May 2012

TT electronics plc

Long Term Incentive Plan

This notification is made in accordance with DTR 3.1.4(1)(a).

On 7 May 2012, following full satisfaction of relevant performance conditions, outstanding awards over Ordinary shares in the Company of 25p each ("Shares") made on 4 May 2009 under the Company's Long term Incentive Plan (the "Plan") vested in full.

Although awardholders would have been entitled to receive the full number of Shares under their awards, a cash payment was offered to them in lieu of Shares which would otherwise have been issued and sold to pay tax and national insurance. Accordingly, a reduced number of Shares were issued to satisfy certain awards. Awards were satisfied for executive Directors and certain other Persons Discharging Managerial Responsibilities ("PDMRs") as follows:

Name of Director/PDMR	Number of Shares over which the award was made	Number of Shares used to satisfy the vested award	Total holding following vesting of award (and percentage of issued Shares)
Geraint Anderson	875,000	420,000	560,000 (0.35%)
Shatish Dasani	600,000	288,000	708,000 (0.45%)
Tim Roberts	202,667	97,279	130,475 (0.08%)
John Molloy	202,667	202,667	1,920,677 (1.22%)
Paul Felbeck	82,500	39,600	43,824 (0.02%)
Wendy Sharp	82,500	39,600	49,600 (0.03%)

No consideration is payable. In addition to the above, 365,735 shares were issued on a similar basis to other employees, bringing the total number of new shares issued to 1,452,881 to satisfy awards under the Plan.

The Company was informed by the individuals listed above of the above transactions on 8 May 2012.

For further information please contact:

TT electronics plc

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

Hudson Sandler

Andrew Hayes / Andrew Leach / Wendy Baker: Tel: [phone]

 

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