Director/PDMR Shareholding

RNS Number : 6557J

Vesuvius plc

08 April 2015

 



Vesuvius plc

8 April 2015

Notification of Transactions of Persons Discharging Managerial Responsibility

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

Vesting of 2012 LTIP Awards

In accordance with the rules of the Cookson Group Long-Term Incentive Plan, the allocations of Performance and Matching Shares awarded to Francois Wanecq on 5 April 2012 vested on 7 April 2015, following the application of the performance conditions specified at the time of grant. Following the demerger in December 2012, the Awards over Cookson Group plc Shares were rolled-over to become an award over ordinary shares of 10 pence in Vesuvius plc ("Vesuvius Shares").

The Remuneration Committee awarded dividends in respect of the Vesuvius Shares that vested. As a result, Mr Wanecq will receive a cash payment equivalent in value to the dividends that would have accrued on the Vesuvius Shares that vested during the three year vesting period.

The Vesuvius Shares to satisfy the vesting of these awards have been sourced from Vesuvius' Employee Share Ownership Trust and Mr Wanecq has sold sufficient shares to meet his associated tax and social security liabilities and the dealing costs for selling these shares. The remaining Vesuvius Shares for Mr Wanecq will be transferred into his own name.

F C Wanecq

Performance Shares Vested	Matching Shares Vested	Total number of shares sold to cover dealing costs, tax and social security liabilities	Total Shares to be retained
40,370	15,939	26,492	29,817

The mid-market closing price of Vesuvius Shares on the date of vesting was £5.17.

Following the transaction detailed above, the interests of Francois Wanecq in Vesuvius Shares are as follows:-

Shareholdings:

Executive Director	Total shareholding prior to this notification	Shares to be retained	Total shareholding following notification	Percentage of share capital (excluding treasury shares) held following notification
F C Wanecq	1,290,147	29,817	1,319,964	0.487%

Name of contacts and telephone numbers for queries:

Henry Knowles, General Counsel and Company Secretary, [phone]

Virginia Skroski, Investor Relations Manager [phone]

 

END

 

 

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