REG - Norcros PLC - Directors' Dealings <Origin Href="QuoteRef">NXR.L</Origin>

NorcrosAnnouncement

06/09/2014 20:27

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RNS Number : 1369N
Norcros PLC
23 July 2014 
 
Norcros plc 
 
("Norcros" or "the Company") 
 
Directors' Dealings - APSP Share Option and Deferred Share awards 
 
APSP Share Option Awards 
 
Norcros announces that the Remuneration Committee of the Company has today
granted the following nil cost share option awards (the "APSP Awards") to the
Executive Directors of the Company under the Company's Approved Performance
Share Plan (the "APSP") over ordinary shares of one pence each in the Company
("Ordinary Shares"). 
 
 Name          Number of Ordinary Shares subject to the APSP Award  
 Nick Kelsall  1,861,111                                            
 Martin Payne  1,250,000                                            
 
 
Under the APSP, awards are made subject to performance targets relating to
improvements in the Company's Earnings Per Share ("EPS").  Vesting of these
shares is subject to achieving aggregate diluted EPS over a three year
performance period. 
 
The APSP Awards will normally vest on the third anniversary of their grant,
subject to satisfactory achievement of the performance targets.  No
consideration was paid for the APSP Awards and no consideration is due to be
payable on vesting. 
 
Bonus payment - Deferred Share Awards 
 
Under the annual bonus scheme, 50 per cent. of an Executive Director's total
bonus for the year is satisfied in cash, with the other 50 per cent. in the
form of nil cost options under the Company's Deferred Share Bonus Plan (the
"Deferred Plan").  These options represent 50 per cent. of the bonuses earned
by the Executive Directors for the 2014 financial year. 
 
Norcros therefore also announces that the Remuneration Committee has today
granted the following nil cost share option awards in respect of the year
ended 31 March 2014 (the "Deferred Awards") to the Executive Directors of the
Company over ordinary shares of one pence each in the Company ("Ordinary
Shares"). 
 
 Name          Number of Ordinary Shares subject to the Deferred Plan Award  
 Nick Kelsall  411,744                                                       
 Martin Payne  285,050                                                       
 
 
The Deferred Awards will normally vest on the third anniversary of their
grant.  Because these shares represent part of a bonus already earned, no
consideration was paid for the Deferred Awards and no consideration is due to
be payable on vesting. 
 
Further enquiries: 
 
 Norcros plc                                                              Tel: 01625 547 700  
 Nick Kelsall, Group Chief ExecutiveMartin Payne, Group Finance Director                      
                                                                                              
 Hudson Sandler                                                           Tel: 0207 796 4133  
 Nick Lyon                                                                                    
 Charlie Jack                                                                                 
 Katie Matthews                                                                               
 
 
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