Restricted share plan

RNS Number : 2514D

TT electronics PLC

26 March 2014

 



26 March 2014

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 25 March 2014 an award over a maximum of 102,500 ordinary shares of 25p each in the Company ("Shares") was granted under the TT Electronics plc Restricted Share Plan to Michael Robinson, a Person Discharging Managerial Responsibility ("PDMR").

No consideration was payable for the grant of the award, which is structured as a restricted share award.

The award 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 in April 2017.  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), the participant will be required to retain 100% of his 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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