REG - Creston PLC - Director/PDMR Shareholding

Fri Jun 29, 2012 5:11am EDT

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RNS Number : 4788G
Creston PLC
29 June 2012
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN


29 June 2012

 


FOR IMMEDIATE RELEASE

 


Creston plc

Grant of Awards to Executive Directors under the Long Term Incentive Plan (LTIP)


 

 

Creston plc ("Creston" or "the Company") announces that on 28 June 2012 the Company granted the following conditional share awards to the Executive Directors under the Creston plc Long Term Incentive Plan ("LTIP") approved by shareholders in 2005. The awards were granted at a share price of 54 pence per ordinary share (being the closing price on the preceding dealing day) as set out below:

 

Name

Number of Ordinary Shares subject to LTIP Award

Market value of Shares at the date of the Award

Number of Conditional shares held following Award

Number of ordinary shares currently held

Total Shareholding (%)

Don Elgie         

740,741

400,000

1,314,312

2,116,113

3.45

Barrie Brien      

362,963

196,000

644,365

289,889

0.47

                                                                                                                                          

The conditional shares subject to the Awards granted will vest in three years, contingent on the individual's continued employment and stretching performance criteria which are based on the performance of the Group's Diluted Earnings Per Share (DEPS), over the three year performance period, compared to UK Gross Domestic Product (GDP).

 

No consideration will be paid for the contingent shares upon their vesting and the issue of all or a portion of the Awards will be subject to the related performance criteria.

 

END

 

 


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