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Alumasc Group Plc (ALU)

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Friday 03 September, 2010

Alumasc Group Plc

Awards under The Alumasc Long

RNS Number : 1437S
Alumasc Group PLC
03 September 2010
 



The Alumasc Group plc - Director/PDMR Shareholding

 

Awards under The Alumasc Group plc Long Term Incentive Plan (2008 Plan) ("LTIP")

 

 

The Alumasc Group plc ("the Company") announces that on 22 October 2009 the under mentioned Directors/PDMRs were granted conditional awards under The Alumasc Group plc Long Term Incentive Plan (2008 Plan) that entitled them to acquire ordinary shares of 12.5 pence each in the Company in accordance with the rules of the Plan.

 

Name

Number of Shares Awarded under the LTIP (2008 plan)

Total Number of Share Awards held under the LTIP (2008 plan)

Percentage of Current Issued Share Capital

Paul Hooper

 

 

152,426

 

374,098

 

1.035%

Andrew Magson

 

 

62,737

 

157,795

 

0.437%

 

The above LTIP awards are granted at a nil exercise price and have the following performance conditions:

 

Each award is dependent partially on an EPS performance condition and partially on total shareholder return ("TSR") meaning a measure of the growth in value of the ordinary shares of the Company over the performance period, assuming that all dividends are reinvested to purchase additional shares.  The relative weighting to be attributed to EPS and TSR in a particular award is decided upon by the Remuneration Committee.

 

No part of any award will vest unless the average annual growth of EPS equals or exceeds RPI plus 2.5% measured over a fixed 3 year period following the making of the award.

 

On the attainment of this 2.5% average annual growth threshold, 25% of the whole award will vest.

 

The whole of the remaining part of an award dependent on EPS will vest if the average annual growth in EPS equals or exceeds RPI plus 10%.

 

The vesting of the remainder of any part of an award dependent on TSR will depend on the percentage movement of the Company's share price at least equalling the median performance of the FTSE All Share Index, up to 100% vesting if the percentage movement is equivalent to upper quartile performance.

 

In between the higher and the lower targets for both EPS and TSR, the awards vest on a straight line basis.

 

The total Executive Share Options and LTIPs awarded to Directors/PDMRs including the above award are as follows:

 

Executive Share Option Scheme

 

Name

Date of Grant

Number of Shares Granted

Earliest Exercise Date

Expiry Date

Percentage of Current Issued Share Capital

Paul Hooper

 

 

April 2006

 

39,878

 

April 2009

 

April 2016

 

0.110%

 

Long Term Incentive Plan (1997 Plan)

 

Name

Date of Award

Number of Shares Under Award

Earliest Exercise Date

Percentage of Current Issued Share Capital

Paul Hooper

 

 

October 2007

 

45,652

 

October 2010

 

0.126%

Andrew Magson

 

October 2007

 

22,609

 

 

October 2010

 

0.063%

 

 

 

Long Term Incentive Plan (2008 Plan)

 

Name

Date of Award

Number of Shares Under Award

Earliest Exercise Date

Percentage of Current Issued Share Capital

Paul Hooper

 

 

December 2008

 

October 2009

 

 

176,020

 

152,426

 

December 2011

 

October 2012

 

0.487%

 

0.422%

Andrew Magson

 

December 2008

 

October 2009

 

72,449

 

62,737

 

 

December 2011

 

October 2012

 

0.200%

 

0.174%

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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