Purchase of shares under Deferred Bonus Plan

RNS Number : 2401B

The Vitec Group PLC

12 April 2012

 



12 April 2012

THE VITEC GROUP PLC

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

Deferred Bonus Plan (DBP)

The Vitec Group plc ("the Company") announces that on 12 April 2012 the following purchases of ordinary shares of 20 pence each were completed under the Company's DBP on behalf of the Company's Directors and PDMRs.

Name	Position	Number of shares purchased and held in trust to form Core Award	Total consideration paid for the Core Award shares	Resultant holding of the Company's shares following purchase of Core Award shares
Stephen Bird	Group Chief Executive	22,946	£155,428.38 (representing 100% deferral of annual cash bonus after taxes)	118,269 ordinary shares (77,821 shares purchased in the market using funds supplied by Mr Bird 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)
Paul Hayes	Group Finance Director	8,843	£59,899.47 (representing 100% deferral of annual cash bonus after taxes)	32,843 ordinary shares (8,843 shares purchased in the market using funds supplied by Mr Hayes 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)
Joop Janssen	PDMR	2,244	£15,200.09	54,652 ordinary shares (12,494 shares purchased in the market using funds supplied by Mr Janssen 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)
Marco Pezzana	PDMR	1,649	£11,169.76	1,649 ordinary shares (1,649 shares purchased in the market using funds supplied by Mr Pezzana 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)
Jerry Gepner	PDMR	2,731	£18,498.86	16,547 ordinary shares (12,546 shares purchased in the market using funds supplied by Mr Gepner 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)
Steve Shpock	PDMR	1,704	£11,542.31	2,257 ordinary shares (2,257 shares purchased in the market using funds supplied by Mr Shpock 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)
Jon Bolton	PDMR	799	£5,412.15	2,998 ordinary shares (2,998 shares purchased in the market using funds supplied by Mr Bolton 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)

The shares purchased will form the individuals' Core Awards under the DBP and will be held in trust by EES Trustees International Limited, as trustee of the Vitec Group Employee Trust.  Any Matching Award under the DBP will be calculated on vesting in accordance with the rules of the DBP and subject to satisfaction of performance conditions. 50% of the award is subject to the Company's Total Shareholder Return ranked against the constituents of the FTSE 250 index (excluding financial services companies and investment trusts) and 50% of the award is subject to the growth in the Company's Earnings per Share, excluding significant items.

The Core Award and Matching Award will vest at the end of the three year performance period on 12 April 2015.   

Enquiries:

Jon Bolton

Group Company Secretary

Rachael Nelson

Deputy Company Secretary

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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