Exercise of LTIP and DBP Awards

RNS Number : 4265B

The Vitec Group PLC

16 April 2012

 



16 April 2012

THE VITEC GROUP PLC

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

The Vitec Group plc ("the Company") announces that, on 16 April 2012, following the vesting of Long Term Incentive Plan and Deferred Bonus Plan awards made on 14 April 2009, the following transactions were undertaken by Directors or PDMRs in the ordinary shares of the Company.  The disposal of ordinary shares by each of the Directors and PDMRs has been primarily to cover tax liabilities arising on the vesting of these awards.

Long Term Incentive Plan

Name	Position	Number of shares acquired for nil consideration	Number of shares disposed (primarily to cover tax liabilities)	Price per share at which shares sold	Resultant holding of the Company's shares following vesting of LTIP
Stephen Bird	Group Chief Executive	216,936	138,497	£6.60	196,708 ordinary shares (77,821)*
Joop Janssen	PDMR	123,808	64,703	£6.60	113,757 ordinary shares (12,494)*
Marco Pezzana	PDMR	12,997	0	N/A	14,646 ordinary shares (1,649)*
Jerry Gepner	PDMR	64,988	64,988	£6.60	16,547 ordinary shares (12,546)*
Steve Shpock	PDMR	21,662	21,662	£6.60	2,257 ordinary shares (2,257)*
Jon Bolton	PDMR	30,990	20,990	£6.60	12,998 ordinary shares (2,998)*

* The figures in brackets indicate the number of ordinary shares purchased in the market with funds provided by each individual and held by EES Trustees International Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan.

Deferred Bonus Plan

Name	Position	Number of shares acquired	Number of shares disposed (primarily to cover tax liabilities)	Price per share at which shares sold	Resultant holding of the Company's shares following vesting of LTIP and DBP
Joop Janssen	PDMR	11,262 (of which 5,199 were Core Award shares purchased with funds from Mr Janssen in 2009)	3,169	£6.60	116,651 ordinary shares (7,295)*
Jerry Gepner	PDMR	6,406 (of which 2,958 were Core Award shares purchased with funds from Mr Gepner in 2009)	6,406	£6.60	13,589 ordinary shares (9,588)*

* The figures in brackets indicate the number of ordinary shares purchased in the market with funds provided by each individual and held by EES Trustees International Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan.

Enquiries:

Jon Bolton

Group Company Secretary

Rachael Nelson

Deputy Company Secretary

(As independent verifier given that Jon is a beneficiary of LTIP)

020 8332 4600

A Snapshot of The Vitec Group

Vitec is an international Group principally serving customers in the broadcast, photographic and military, aerospace and government (MAG) markets. Listed on the London Stock Exchange with 2011 revenue of £351.0 million, Vitec is based on strong, well known, premium brands on which its customers worldwide rely. Vitec is organised in three Divisions: Videocom, Imaging & Staging, and Services.

Videocom designs and distributes systems and products used in broadcasting and live entertainment, film and video production and MAG.

Imaging & Staging designs, manufactures and distributes equipment and accessories for photography, video and events.

Services provides equipment rental, workflow design and technical support for camera, video, audio, fibre optic and wireless technology used by TV production teams and film crews.

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

 

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