Director/PDMR Shareholding

RNS Number : 6006D

Morgan Crucible Co PLC

24 March 2011

Notification of interests of directors/persons discharging managerial responsibility and connected persons ("PDMRs")

24^th March 2011

This notification is made pursuant to DTR 3.1.4R (1)(a).

The Company announces that on 23^rd March 2011 awards over ordinary 25p shares in the Company were made to the Directors and PDMRs listed below under the Company's Long Term Incentive Plan 2004 ("LTIP"). Subject to satisfaction of performance targets, awards under the LTIP will vest in three years' time. Except as described below in relation to Kevin Dangerfield and Peter Blausten (who have capacity within the £30,000 limit described below) the awards are structured as conditional awards of free shares.

Kevin Dangerfield and Peter Blausten each received an award structured as an Approved Performance Share Plan ("APSP") award. APSP awards under the LTIP comprise three elements: (i) an HM Revenue & Customs approved option over shares to the value of the first £30,000 worth of the award with an exercise price of 292.28 pence per share; (ii) an LTIP award in the form of a conditional award of free shares to the value of the remainder of the award above this limit; and (iii) a funding award, also in the form of a conditional award of free shares, over such number of shares whose value at exercise of the approved option equals £30,000. In addition to satisfaction of the performance targets, the approved option and the associated funding award will only vest in the event that the market value of a share at vesting is greater than 292.28 pence per share. The funding award is solely used to fund the exercise price of the approved option and will be satisfied by shares from the Company's employee benefit trust. Following vesting of the funding award, these shares are retained by the trust and not delivered to the participant.

Name	Number of shares subject to award (approved option and LTIP award)	Maximum number of shares subject to funding award (not delivered to participant)
Mark Robertshaw	171,068	Nil
Kevin Dangerfield	90,666	6,481
Andrew Hosty	102,641	Nil
Peter Blausten	47,899	10,264
Paul Boulton	34,213	Nil
Spencer Evans	25,660	Nil
Simon Halliday	30,792	Nil
Don Klas	82,113	Nil
Andrew Riley	34,213	Nil

Following the grant of awards detailed above, the total number of shares in respect of which awards are held by those individuals pursuant to the Company's Long Term Incentive Plan are detailed below:

Name	Total Number of Shares held pursuant to LTIP awards
Mark Robertshaw	875,302
Kevin Dangerfield	498,801
Andrew Hosty	486,768
Peter Blausten	47,899
Paul Boulton	194,265
Spencer Evans	58,493
Simon Halliday	150,831
Don Klas	466,240
Andrew Riley	166,441