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Hikma PharmaceuticalsAnnouncement

06/09/2014 02:14

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RNS Number : 4007J
Hikma Pharmaceuticals Plc
11 June 2014 
 
Hikma Pharmaceuticals PLC - LTIP Awards 
 
LONDON, 11 June 2014: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK)
announces that the Remuneration Committee has made the following conditional
awards under the Hikma Pharmaceuticals PLC 2005 Long-Term Incentive Plan (the
"LTIP") to Persons Discharging Managerial Responsibility ("PDMR") of the
Company. 
 
Awards under the LTIP were made on 11 June 2014 at a price of 1,697 pence per
Ordinary Share as follows: 
 
 Name of PDMR    Number of LTIP Shares  
 Bassam Kanaan   24,567                 
 Michael Raya    23,242                 
 Khalid Nabilsi  15,510                 
 Riad Mishlawi   15,122                 
 
 
The shares subject to the LTIP awards will only be released to the
participants in three years time, subject to their continued employment and
the satisfaction of the performance targets: 
 
·      comparative Total Shareholder Return ("TSR") 
 
·      Sales Growth 
 
·      earnings per share ("EPS") growth 
 
·      return on invested capital ("ROIC") 
 
Half of the award is subject to TSR against the Comparator Group and requires
at least upper quartile performance to vest in full. The remaining half is
split equally between the financial targets and requires sales growth of 13%,
EPS growth of 20% and ROIC of 12% to vest in full. Each target is measured
individually and is independent of the other targets. Further details on these
performance criteria and the LTIP can be found in Hikma's report and accounts
for the year ended 31 December 2013 on pages 107 and 109. 
 
- ENDS - 
 
Enquiries: 
 
Hikma Pharmaceuticals PLC 
 
Peter Speirs                                                                  
                                  +44 20 7399 2760 
 
Company Secretary 
 
About Hikma 
 
Hikma Pharmaceuticals PLC is a fast growing pharmaceutical group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed products.  Hikma's operations are
conducted through three businesses: "Branded", "Injectables" and "Generics"
based primarily in the Middle East and North Africa ("MENA") region, where it
is a market leader, the United States and Europe.  In 2013, Hikma achieved
revenues of $1,365 million and profit attributable to shareholders of $212
million. 
 
This information is provided by RNS
The company news service from the London Stock Exchange