Director/PDMR Shareholding

RNS Number : 5939M

Future PLC

17 July 2014

Future plc

17 July, 2014

Future plc

Notification of Interests of Persons Discharging Managerial Responsibility ("PDMRs") and connected persons

Future plc ("the Company") announces the following dealings by PDMRs in the Company's ordinary shares of one penny each ("Shares").

1. On 16 July 2014, the Company received notification from Zillah Byng-Maddick that, on 16 July 2014 she purchased 191,738 shares in the Company at the price of 7.75p per share.

2. In addition, the Company received notification from Zillah Byng-Maddick that, on 16 July 2014, an Award over 2,500,000 shares in the Company was granted to her by the Company under the Performance Share Plan (PSP).

The PSP Award will vest three years from the date of grant, at no cost to the participant, in accordance with the rules of the PSP provided that the participant remains in employment of the Group at the vesting date and subject to performance targets measured over the three financial years from 1 October 2013 to 30 September 2016 having been met. Vesting of the PSP Awards is subject to both Total Shareholder Return (TSR) and Earnings Per Share (EPS) performance.

The vesting of 50% of the PSP Awards will be determined by the Company's TSR performance measured against a group of competitor companies, not being less than 15 in number. If the Company's performance places it below median, none of that part of the PSP Awards will vest. If the TSR performance places it above median ranking, 25% will vest through to 100% of that part if the Company is ranked in the upper quintile (top 20%). To alleviate short-term volatility, the return index will be averaged in the TSR calculations for each company over the three months prior to the start and end of the performance period.

The vesting of the other 50% of the PSP Awards will be determined by the Company's EPS performance against the Retail Price Index (RPI). EPS growth targets have been determined by the Remuneration Committee for these PSP Awards as follows: in the event that the Company's EPS growth is less than RPI + 3%, none of that part of the PSP Awards will vest, vesting commences at over RPI +3% and, at RPI +8%, 100% of that part of the PSP Awards will vest, and vesting will be on a pro rata straight line basis between the two.

As a result of the above, the total interest of Zillah Byng-Maddick in shares in the Company as at 16 July 2014 is as set out in the table below: