Director/PDMR Shareholding

RNS Number : 7322F
Morgan Advanced Materials PLC
28 May 2013
 

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

28 May 2013

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

The Company announces that on 20 May 2013 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), including the HMRC approved Schedule. 

The awards under the LTIP comprise up to three elements, (i) and (iii) relate to certain UK participants: (i) an HM Revenue & Customs approved option over shares up to the value of £30,000 with an exercise price of 279.06 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; 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 the value of the approved option on award.

Subject to satisfaction of performance targets, awards under the LTIP will vest in three years' time. 

In addition to the 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 279.06 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

Name

Number of shares subject to award (LTIP award and approved option, where applicable)

 

Maximum number of shares subject to funding award (not retained by participant)

Mark Robertshaw (Director)

172,006 LTIP

 

0

Kevin Dangerfield (Director)

100,147 LTIP

1,981 Approved Option

 

1,981

Andrew Hosty (Director)

101,053 LTIP

10,750 Approved Option

 

10,750

Peter Blausten (PDMR)

35,834 LTIP

 

0

Paul Boulton (PDMR)

25,084 LTIP

10,750 Approved Option

 

10,750

Ralph Gomarsall (PDMR)

10,750 LTIP

 

0

Bill Grab (PDMR)

17,917 LTIP

 

0

Simon Halliday (PDMR)

21,501 LTIP

10,750 Approved Option

 

10,750

Andrew Riley (PDMR)

25,084 LTIP

10,750 Approved Option

 

10,750

Ian Robb (PDMR)

35,834 LTIP

 

0

John Stang (PDMR)

35,834 LTIP

 

0

 

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 LTIP are detailed below:

Name

Total number of shares held pursuant to LTIP awards

Mark Robertshaw

477,981

Kevin Dangerfield

286,747

Andrew Hosty

313,024

Peter Blausten

122,102

Paul Boulton

108,902

Ralph Gomarsall

44,072

Bill Grab

36,612

Simon Halliday

99,088

Andrew Riley

108,902

Ian Robb

86,049

John Stang

44,265

 

 

Enquiries:  Stephanie Mackie, Morgan Advanced Materials plc

 

Tel:  01753 837000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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