Long Term Incentive Plan

RNS Number : 7288R

TT electronics PLC

05 May 2009

 



5 May 2009

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 to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

Executive Director/PDMR	Maximum Number of Shares
Geraint Anderson	875,000
Shatish D Dasani	600,000
Nigel A Brice	202,667
Adam Markin	202,667
John R Molloy	202,667
John H Preston	202,667
Timothy H Roberts	202,667
Stephen J Curtis	82,500
Paul Felbeck	82,500
David P Matthews	82,500
Wendy J Sharp	82,500
David J Winter	82,500

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 for EPS growth of 3 per cent compound per annum in excess of the Retail Price Index ('RPI'), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 7 per cent compound per annum in excess of RPI; and 

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]

 

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