Director/PDMR Shareholding

RNS Number : 0311E

Vesuvius plc

03 April 2014

 



3 April 2014

Notification of Transactions of Persons Discharging Managerial Responsibilities

Vesuvius plc

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

Vesting of 2011 LTIP Awards

In accordance with the rules of the Cookson Group Long-Term Incentive Plan, the allocation of Performance and Matching Shares awarded to Francois Wanecq on 1 April 2011 vested on 1 April 2014, following the application of the performance conditions specified at the time of grant. Following the demerger in December 2012, the Awards over Cookson Group plc Shares were rolled-over to become an award over ordinary shares in Vesuvius plc (the "Company").

The Remuneration Committee awarded dividends in respect of the shares that vested. As a result, Mr Wanecq 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 were sourced from Vesuvius's Employee Share Ownership Trust and Mr Wanecq has sold sufficient shares to meet his 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

Performance Shares Vested		Matching Shares Vested		Dividend Shares	Total number of Shares Sold to cover dealing costs, tax and social security liabilities	Total Shares to be retained
42,105		91,752		16,905	71,001	79,761

The mid-market closing price of the Company's shares on the date of vesting was £4.355.

Following the transaction detailed above, the interests of Francois Wanecq 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	1,210,386	79,761	1,290,147	0.48%

Tony Dand

Interim Deputy Company Secretary

Vesuvius plc

165 Fleet Street

London EC4A 2AE

Tel: [phone]

Fax: [phone]

Web: www.Vesuvius.com

 

END

 

 

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