2014 DBP award - vesting outcome

RNS Number : 2127B

The Vitec Group PLC

31 March 2017

 

31 March 2017

THE VITEC GROUP PLC

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

Deferred Bonus Plan - Vesting of 2014 DBP

The Vitec Group plc ("the Company") announces that the following transactions were undertaken by Directors and PDMRs in the ordinary shares of the Company on the dates indicated in the tables below:

·    sale and transfer of Core Awards and associated dividend shares under the Deferred Bonus Plan ("DBP") made in 2014; and

·      lapsing of Matching Awards under the DBP made in 2014.

The Company confirms that neither of the performance conditions associated with awards made on 31 March 2014 under the DBP reached threshold conditions for vesting and hence the Matching Awards under the DBP lapsed.

The sale of shares principally reflects the settlement of tax liabilities arising on vesting of the Core Award and associated dividend shares.

Stephen Bird, Group Chief Executive

Transaction	Date of acquisition, sale or lapse	Total shares vested including dividend shares	Number of shares sold	Number of shares retained	Number of awards lapsed	Price per share at which associated dividend shares were acquired and shares sold
Transfer and sale of Core Award shares and acquisition of associated dividend shares	31 March 2017	30,901 (of which 28,313 were Core Award shares)	15,452	15,449	-	£7.94
Lapse of Matching Award	31 March 2017	-	-	-	28,313	n/a

Following the above transactions, Stephen Bird's holding is now 262,687 ordinary shares in the Company. This includes 13,956 ordinary shares purchased in the market with funds provided by Stephen Bird and held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan. Stephen Bird's holding also includes 2,000 shares held by a connected person.

Paul Hayes, Group Finance Director

Transaction	Date of acquisition, sale or lapse	Total shares vested including dividend shares	Number of shares sold	Number of shares retained	Number of awards lapsed	Price per share at which associated dividend shares were acquired and shares sold
Transfer and sale of Core Award shares and acquisition of associated dividend shares	31 March 2017	21,989 (of which 20,147 were Core Award shares)	10,335	11,654	-	£7.94
Lapse of Matching Award	31 March 2017	-	-	-	20,147	n/a

Following the above transactions, Paul Hayes' holding is now 74,213 ordinary shares in the Company. This includes 9,773 ordinary shares purchased in the market with funds provided by Paul Hayes and held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.

Martin Green, Group Business Development Director

Transaction	Date of acquisition, sale or lapse	Total shares vested including dividend shares	Number of shares sold	Number of shares retained	Number of awards lapsed	Price per share at which associated dividend shares were acquired and shares sold
Transfer and sale of Core Award shares and acquisition of associated dividend shares	31 March 2017	9,373 (of which 8,588 were Core Award shares)	4,406	4,967	-	£7.94
Lapse of Matching Award	31 March 2017	-	-	-	8,588	n/a

Following the above transactions, Martin Green's holding is now 31,200 ordinary shares in the Company. This includes 4,263 ordinary shares purchased in the market with funds provided by Martin Green and held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.

Marco Pezzana, PDMR

Transaction	Date of acquisition or lapse	Number of shares acquired	Number of awards lapsed	Price per share at which associated dividend shares were acquired
Transfer of Core Award shares and acquisition of associated dividend shares	31 March 2017	4,901 (of which 4,491 were Core Award shares)	-	£7.94
Lapse of Matching Award	31 March 2017	-	4,491	n/a

Following the above transactions, Marco Pezzana's holding is now 33,955 ordinary shares in the Company. This includes 5,887 ordinary shares purchased in the market with funds provided by Marco Pezzana and held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.

Jon Bolton, PDMR

Transaction	Date of acquisition, sale or lapse	Total shares vested including dividend shares	Number of shares sold	Number of shares retained	Number of awards lapsed	Price per share at which associated dividend shares were acquired and shares sold
Transfer and sale of Core Award shares and acquisition of associated dividend shares	31 March 2017	3,251 (of which 2,979 were Core Award shares)	1,528	1,723	-	£7.94
Lapse of Matching Award	31 March 2017	-	-	-	2,979	n/a

Following the above transactions, Jon Bolton's holding is now 26,925 ordinary shares in the Company. This includes 2,087 ordinary shares purchased in the market with funds provided by Jon Bolton and held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.

Enquiries:

Jon Bolton

Group Company Secretary

020 8332 4600

A Snapshot of The Vitec Group

Vitec is a leading global provider of premium branded products and services to the fast changing and growing "image capture and sharing" market.

Vitec's customers include broadcasters, independent content creators, photographers and enterprises, and our activities comprise: design, manufacture and distribution of high performance products and software including camera supports, wireless systems, robotic camera systems, prompters, LED lights, mobile power, monitors and bags; and premium services including technical solutions, systems integration and equipment rental for TV production teams, film crews and enterprises.

We employ around 1,700 people across the world in ten different countries and are organised in two Divisions: Broadcast and Photographic.

The Vitec Group plc is listed on the London Stock Exchange with 2016 revenue of £376.2 million.

More information can be found at: www.vitecgroup.com.

LEI number: 2138007H5DQ4X8YOCF14

 

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