Director/PDMR Shareholding

RNS Number : 5656H

Unite Group PLC

20 May 2014

 



THE UNITE GROUP PLC (THE "COMPANY")

20 May 2014

GRANT OF OPTIONS AND DIRECTORS' INTERESTS

Pursuant to the long term incentive plan of the Company (which was approved by shareholders in May 2011), awards under that plan (in the form of nil cost options and HMRC approved options), have been granted to each of the Company's Executive Directors, namely Mr Mark Allan (Chief Executive), Mr Joe Lister (Chief Financial Officer), Mr Richard Simpson (Managing Director of Property) and Mr Richard Smith (Managing Director of Operations) effective 10 April 2014.  Messrs Allan, Lister, Simpson and Smith were awarded nil cost options in respect of 147,841 shares, 93,420 shares, 84,233 shares and 84,233 shares respectively and each of them was awarded HMRC approved options in respect of 2,333 shares. The HMRC approved options were each awarded at an option price of 428.6p per share, being the closing middle market price of the shares on the day prior to the date on which the options were granted.

The number of shares in respect of which Messrs Allan, Lister, Simpson and Smith may exercise the above referred to options will be determined following the three year measurement period attaching to those awards, by reference to the adjusted earnings per share, total return per share and total shareholder return performance of the Company over that period. Two thirds of such of the options as become exercisable may be exercised on the third anniversary of the date of grant, with the remaining third becoming exercisable on the fourth anniversary of the date of grant.

Not taking account of options held by them, Mr Allan is interested in 416,593 shares in the Company, representing 0.207% of its issued share capital; Mr Lister is interested in 274,737 shares in the Company, representing 0.137% of its issued share capital; Mr Simpson is interested in 70,221 shares in the Company, representing 0.035% of its issued share capital; and Mr Smith is interested in 9,563 shares in the Company, representing 0.005% of its issued share capital.

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