REG - Future PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">FUTR.L</Origin>

FutureAnnouncement

06/09/2014 16:48

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RNS Number : 5939M
Future PLC
17 July 2014 
 
Future plc 
 
17 July, 2014 
 
Future plc 
 
Notification of Interests of Persons Discharging Managerial Responsibility
("PDMRs") and connected persons 
 
Future plc ("the Company") announces the following dealings by PDMRs in the
Company's ordinary shares of one penny each ("Shares"). 
 
1.  On 16 July 2014, the Company received notification from Zillah
Byng-Maddick that, on 16 July 2014 she purchased 191,738 shares in the Company
at the price of 7.75p per share. 
 
2.   In addition, the Company received notification from Zillah Byng-Maddick
that, on 16 July 2014, an Award over 2,500,000 shares in the Company was
granted to her by the Company under the Performance Share Plan (PSP). 
 
The PSP Award will vest three years from the date of grant, at no cost to the
participant, in accordance with the rules of the PSP provided that the
participant remains in employment of the Group at the vesting date and subject
to performance targets measured over the three financial years from 1 October
2013 to 30 September 2016 having been met. Vesting of the PSP Awards is
subject to both Total Shareholder Return (TSR) and Earnings Per Share (EPS)
performance. 
 
The vesting of 50% of the PSP Awards will be determined by the Company's TSR
performancemeasured against a group of competitor companies, not being less
than 15 in number. If the Company'sperformance places it below median, none of
that part of the PSP Awards will vest. If the TSR performance places it above
median ranking, 25% will vest through to 100% of that part if the Company is
ranked in the upper quintile (top 20%). To alleviate short-term volatility,
the return index will be averaged in the TSR calculations for each company
over the three months prior to the start and end of the performance period. 
 
The vesting of the other 50% of the PSP Awards will be determined by the
Company's EPS performance against the Retail Price Index (RPI). EPS growth
targets have been determined by the Remuneration Committee for these PSP
Awards as follows: in the event that the Company's EPS growth is less than RPI
+ 3%, none of that part of the PSP Awards will vest, vesting commences at over
RPI +3% and, at RPI +8%, 100% of that part of the PSP Awards will vest, and
vesting will be on a pro rata straight line basis between the two. 
 
As a result of the above, the total interest of Zillah Byng-Maddick in shares
in the Company as at 16 July 2014 is as set out in the table below: 
 
 Director             Total number of Shares under options and/or awards  Number of Shares held  
 Zillah Byng-Maddick  4,500,000                                           191,738                
 
 
4,500,000 
 
191,738 
 
This notification is intended to satisfy the Company's obligations under
Disclosure and Transparency Rule 3.1.4. 
 
Future plc 
 
Nina Day, Assistant Company Secretary                                 01225
442244 
 
This information is provided by RNS
The company news service from the London Stock Exchange