Director/PDMR Shareholding

RNS Number : 0967F

Hikma Pharmaceuticals Plc

20 May 2013

 



Hikma Pharmaceuticals PLC - LTIP Awards

LONDON, 20 May 2013: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) announces that, further to the approval of the Ordinary Shareholders of Hikma obtained at the Company's Annual General Meeting to make awards to the executive directors on 16 May 2013, the Remuneration Committee has made the following conditional awards under the Hikma Pharmaceuticals PLC 2005 Long-Term Incentive Plan (the "LTIP") to Persons Discharging Managerial Responsibility ("PDMR") of the Company.

Awards under the LTIP were made on 17 May 2013 at a price of 1,000 pence per Ordinary Share as follows:

Name of PDMR Said Darwazah	Number of LTIP Shares 102,000
Mazen Darwazah	53,000
Bassam Kanaan	40,000
Michael Raya	38,000
Khalid Nabilsi	22,000
Riad Mishlawi	22,000

The shares subject to the LTIP awards will only be released to the participants in three years time, subject to their continued employment and the satisfaction of the performance targets:

·      comparative Total Shareholder Return ("TSR")

·      Sales Growth

·      earnings per share ("EPS") growth

·      return on invested capital ("ROIC")

Half of the award is subject to TSR against the Comparator Group and requires at least upper quartile performance to vest in full. The remaining half is split equally between the financial targets and requires sales growth of 13%, EPS growth of 20% and ROIC of 12% to vest in full. Each target is measured individually and is independent of the other targets. Further details on these performance criteria and the LTIP can be found in Hikma's report and accounts for the year ended 31 December 2012 on pages 96 to 99.

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Enquiries:

Hikma Pharmaceuticals PLC 

Peter Speirs                                                                                                     [phone]

Company Secretary

About Hikma

Hikma Pharmaceuticals PLC is a fast growing pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products.  Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based primarily in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe.  In 2012, Hikma achieved revenues of $1,108.7 million and profit attributable to shareholders of $100.3 million. 

 

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