Director/PDMR Shareholding

RNS Number : 0598C

Vesuvius plc

10 April 2013

 



10 April 2013

Notification of Transactions of Persons Discharging Managerial Responsibilities

Vesuvius Group plc

This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules

Vesting of 2010 LTIP Awards

In accordance with the rules of the Cookson Group Long-Term Incentive Plan (the "Plan"), the allocation of Performance and Matching Shares awarded to the executive Directors of Cookson Group plc ("Cookson" or "the Company") on 07 April  2010 vested on 08 April  2013, following the application of the performance conditions specified at the time of grant. Following the demerger of Cookson Group plc in December 2012 the Awards over Cookson Shares were  rolled-over so as to become an award over a mixture of ordinary shares in Vesuvius plc ("Vesuvius Shares") and ordinary shares in Alent plc ("Alent Shares").  The original 2010 Award was replaced by an award over 1 Vesuvius Share and 1 Alent Share for each Cookson Share subject to that original award.

The Remuneration Committee awarded dividends in respect of the shares that vested.  As a result each participant received additional shares equivalent in value to the dividends that would have accrued on the shares that vested during the three year vesting period. The shares to satisfy the vesting of these awards was sourced from Cookson's Employee Share Ownership Trust and the Trustees have arranged for sufficient shares to be sold to meet Mr Wanecq's associated tax and social security liabilities, and the dealing costs for selling these shares. The remaining shares for Mr Wanecq will be transferred into his own name.

  F C Wanecq

Shares	Matching Shares Vested		Performance Shares Vested		Dividend Shares	Total number of Shares Sold to cover dealing costs, tax and social security liabilities	Total Shares to be retained
Vesuvius	41090		63182		6392	45594	65070
Alent	41090		63182		5829	45365	64736

The mid-market closing price of the Company's shares on the date of vesting was £3.30.

 Following the transaction detailed above, the interests of the executive Directors in the shares of the Company are as follows:-

Shareholdings:

Executive Director	Vesuvius Shareholdings prior to this notification	Vesuvius Total Shares to be retained	Vesuvius Total   holding following notification	Vesuvius Total percentage holding following notification
F C Wanecq	1,145,316	65070	1,210,386	0.43%

Richard Malthouse                    

Group Secretary

Vesuvius plc

165 Fleet Street

London EC4A 2AE

Tel: [phone]

Fax: [phone]

Web: www.Vesuvius.com

 

END

 

 

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