Director/PDMR Shareholding

RNS Number : 9912C

Vesuvius plc

23 April 2013

 



Vesuvius Plc                       

23 April 2013

Notification of Transactions of Persons Discharging Managerial Responsibilities

Vesuvius Group plc

This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.

Grant of 2013 Long Term Incentive Share Awards

Vesuvius plc (the Company) announces that on 22 April 2013, performance share awards (the Awards) were granted over the Company's ordinary shares in the form of nil cost options to the following Directors, being persons discharging managerial responsibilities in the Company, under the Vesuvius Share Plan.

Name                    Maximum number of Shares under Award (Award Shares)

Mr F C Wanecq                  341,509

Mr C O'Shea                       211,115

The number of Award Shares set out above is the maximum number which may vest under the Awards, normally following the third anniversary of the award date. The actual number of Award Shares which vest will depend on the extent to which performance conditions have been satisfied.

The performance conditions applicable to the 2013 Awards will be based half on total shareholder return (TSR) performance and half on earnings per share (EPS), as described in the Company's 2012 Annual Report.

The Vesuvius Share Plan was approved by shareholders at the General Meeting, held to approve the demerger of Cookson Group plc on 26 November 2012.

The Share price used to determine the number of Shares under awards was that at close of business on Friday 19 April 2013 of £3.221.

Name of contact and telephone number for queries:

N. D. JENNINGS, 020 7822 0062

 

END

 

 

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