REG - Cranswick PLC - Director/PDMR Shareholding

CranswickAnnouncement

03/08/2018 12:25

RNS Number : 8022W
Cranswick PLC
03 August 2018
 


Director/PDMR Shareholding
Cranswick plc ("the Company")
The Company has been notified that the following award of LTIP nil-cost options has been made, pursuant to the Cranswick plc Long Term Incentive Plan (the "Scheme"), to certain Directors/Persons Discharging Managerial Responsibility ("PDMR") over ordinary shares of 10 pence each in the Company ("Ordinary Shares"), as follows:



Name


No. of Ordinary Shares subject to Option




Martin Davey


19,100




Adam Couch


38,600




Mark Bottomley


25,500




Jim Brisby


25,500




Chris Aldersley


15,800



The nil-cost options were granted on 1 August 2018 in accordance with the Scheme and are based on a share price of 3293.34 pence per Ordinary Share, being the average quoted market price of the Company's shares on the three dealing days prior to the date of grant.
Each person has also been granted a tax qualifying option over 910 Ordinary Shares at an exercise price of 3293.34 pence per Ordinary Share as part of their award.  These tax qualifying options are linked to the LTIP nil-cost options such that, at the time of exercise, to the extent that there is a gain in the tax qualifying option, the LTIP nil-cost option will be forfeited to the value of that gain.
Vesting of the LTIP nil-cost options and tax qualifying options is subject to the achievement of the performance criteria based on growth in EPS (as regards 50% of the awards) and relative Total Shareholder Return (as regards 50% of each award).  The targets applying to each element are as follows. 
 











Target




EPS


Threshold


Average annual % growth in RPI + 3%




Maximum


Average annual % growth in RPI + 9%




TSR


Threshold


Median




Maximum


Upper decile



 
Enquiries:
Steven Glover, Company Secretary tel: 01482 372000




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