Restricted Share Plan

RNS Number : 9763R

TT electronics PLC

01 November 2013

 



1 November 2013

TT electronics plc

Restricted Share Plan

This notification is made in accordance with DTR 3.1.4(1)(a).

TT electronics plc ("the Company") announces that on 31 October 2013 awards over ordinary shares of 25p each in the Company ("Shares") were granted under the TT electronics plc Restricted Share Plan to the following Persons Discharging Managerial Responsibility ("PDMR") as follows:

PDMR	Number of Shares
John Molloy	102,500
Pat Murray	102,500
Said Karbassi	102,500
Gareth Mycock	51,300

No consideration was payable for the grant of the awards, which are structured as restricted share awards.

The awards will normally vest in two tranches, with up to 40% of the award vesting on the third anniversary of the date of grant and up to 60% of the award vesting three years and six months from the date of grant.  The vesting of each tranche is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company and the participant's continued employment with the TT electronics group on the relevant date of vesting.  In order to receive full vesting of the second tranche (in April 2017), participants will be required to retain 100% of their residual shares (after deductions for tax and social security) from the initial tranche.

For further information please contact:

TT electronics plc

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

Hudson Sandler

Andrew Hayes / Wendy Baker / Katie Matthews: Tel: [phone]

 

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