TT Electronics plc - Long Term Incentive Plan

RNS Number : 8858G

TT electronics PLC

12 May 2014

 



12 May 2014

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") was made on 9 May 2014 to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

Executive Director/PDMR                                                      Maximum Number
                                                                                                      of Shares

Shatish Dasani	131,572
Tim Roberts	110,912
Patrick Murray	84,000
John Molloy	84,000
Michael Robinson	84,000
Gareth Mycock	50,000
Per-Olof Ahlstrom	35,000
Lynton Boardman	35,000
Lee Burtelson	35,000
John Leighton-Jones	35,000

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 7 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 12 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]

Hudson Sandler

Andrew Hayes / Wendy Baker:                                                 Tel:  [phone]

 

END

 

 

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