Director/PDMR Shareholding -

RNS Number : 4098U

M&C Saatchi PLC

14 October 2010

 



M&C Saatchi PLC ("M&C Saatchi" or "the Company")  

Grant of LTIP units under existing executive LTIP plan

The Board of M&C Saatchi announces that, on the recommendation of the Company's Remuneration Committee, the Board has issued 221,519 LTIP units under its existing executive LTIP plan to its Finance Director Jamie Hewitt.

The key points of the executive LTIP plan are summarised below:

Vesting of the award will occur on 18 May 2013 at that point the LTIP units will convert to nil priced options using a conversion factor based on real increase in diluted earnings per share. If real diluted earnings per share grows at 10% per annum or more the conversion factor will be 1. At a real diluted earnings per share growth of 3% per annum, the conversion factor will be 0.3. Below 3% earnings per share growth no nil priced options will be issued.

Half the award will be paid in cash and half the award in equity at each exercise of the option.

Half the nil priced options can be exercised between 18 May 2014 and 14 October 2020, and half the nil priced options can be exercised between 18 May 2015 and 14 October 2020.

Further details of the existing executive LTIP plan can be seen on page 88 of our 14 July 2004 Admission document http://www.mcsaatchiplc.com/saa/aboutus/corpgov/documents/.  

END

For further information, please contact:

M&C Saatchi	[phone]
Andy Blackstone, Company Secretary
Numis Securities	[phone]
Richard Thomas, NOMAD
Charles Farquhar, Corporate Broking
Tulchan Communications	[phone]
Susanna Voyle
Ashling Cashmore

 

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