Long Term Incentive Plan

RNS Number : 2988L

TT electronics PLC

04 May 2010

 



4 May 2010

TT electronics plc

Long Term Incentive Plan ("LTIP")

TT electronics plc ("the Company") announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") has been made today to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

Executive Director/PDMR	Maximum Number             of Shares
Geraint Anderson	330,189
Shatish D Dasani	226,415
Timothy H Roberts	123,821
Nigel A Brice	70,755
Billal Hammoud	70,755
John R Molloy	70,755
Patrick Murray	70,755
John H Preston	44,811
Paul Felbeck	44,811
Wendy J Sharp	44,811
David J Winter	44,811

No consideration is payable for the award.

The award will vest in three years from the date of grant, subject to achievement of the performance conditions.  Two separate performance targets apply:

The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets.  25 per cent of the shares subject to this part of the award will vest if the Company's EPS for the financial year ending 31 December 2012 is 12 pence increasing on a straight-line basis to 100 per cent vesting if an EPS of 14 pence or more is achieved.

The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding investment trusts).  25 per cent of the shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.

For further information please contact:

TT electronics plc

Geraint Anderson, Group Chief Executive:                              Tel:  [phone]

Biddicks

Zoë Biddick:                                                                                Tel:  [phone]

 

END

 

 

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