Directors' Dealings
Victrex PLC
8 March 2000
Victrex plc
Notification of interests of directors and connected persons pursuant to
sections 198 and 324 of the Companies Act 1985 as amended
The attached notifications are made pursuant to the following:
1. The award of ordinary shares to the directors listed in the attached
schedule on 29 January 1999, pursuant to the Victrex long-term incentive
plan. The plan was approved by shareholders on 26 January 1999.
2. The subsequent lapse of awards of ordinary shares made at 1 above, and
share options where appropriate, in respect of two directors listed in the
attached schedule on, or subsequent to the date of their retirement or
resignation from Victrex plc.
3. The award of ordinary shares to the directors listed in the attached
schedule on 7 March 2000 pursuant to the Victrex long-term incentive plan.
Notification in respect of the awards made at 1 above, was originally made to
the Company Announcements Office in a fax dated 29 January 1999 under AVS
879449.
Following a telephone conversation yesterday between Gary Hulme of Victrex plc
and Debbie Crawshaw of your enquiries department, we have been advised that no
formal Stock Exchange announcement was in fact made in respect of this original
notification. We therefore today include details of this original notification
and make formal notification of the subsequent lapse of awards and share options
(point 2 above), for which we apologise no notification has been previously
made.
We were also advised that a freetext announcement would be appropriate in these
circumstances in place of Schedules 10 and 11.
The shares which are the subject of the awards either have already been, or will
be acquired, if the trustees consider it appropriate, by :
1. Mourant and Co. Trustees Limited, as trustees of the Victrex plc Employee
Trust (in the case of DR Hummel).
The shares which are the subject of the awards have already been acquired by :
2. Mourant and Co. Capital Trustees Limited, as trustees of the Victrex
Employee Share Ownership Plan (in the case of the other directors).
The directors are interested in the shares owned, or acquired by the trusts, as
beneficiaries of each relevant trust.
We trust that the above information satisfies the Stock Exchange's requirements.
Please contact either Michael Peacock, or Gary Hulme of Victrex plc, if you have
any questions in connection with this matter.
Director Shares Shares Number of Shares
awarded awarded shares awarded
pursuant to a pursuant to a over which an pursuant to a
long term long term option is held long term
incentive plan incentive plan lapsing incentive plan
lapsing following
on retirement/ retirement
resignation
29-Jan-99 7-Mar-00
DR Hummel 81,247 - 35,000
J Bamford 49,176 (49,176) (65,000) -
-Note 1
PJC Syms 55,882 - 25,000
DF Tilston 63,314 (63,314) -
-Note 2
TJ Walker - - 40,000
M Peacock - - 40,000
Position following notification on 7 March 2000
Director Number of Number of Number of Percentage
shares in shares over shares under of Issued
which which an a long term Class of
interested option is held incentive Share
in beneficially plan Capital
and (under s198
non-beneficially Companies
Act 1985
as amended)
DR Hummel 3,759,931 112,903 116,247 5.08%
J Bamford 2,467,205 - - 3.14%
-Note 1
PJC Syms 2,264,286 70,000 80,882 3.08%
DF Tilston 1,000 163,512 - N/A
-Note 2
TJ Walker 7,500 - 40,000 N/A
M Peacock - - 40,000 N/A
Notes:
1. J Bamford retired as a director of Victrex plc on 28 May 1999. The shares
awarded to J Bamford pursuant to a long term incentive plan lapsed on that
day. The options which J Bamford held in respect of 65,000 shares lapsed
on 28 November 1999.
2. DF Tilston resigned as a director of Victrex plc on 1 February 2000.