REG - Rentokil Initial PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">RTO.L</Origin>

Rentokil InitialAnnouncement

01/04/2015 17:00

RNS Number : 2391J
Rentokil Initial PLC
01 April 2015
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
(1)
An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2)
An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.
(3)
An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4)
An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.
Please complete all relevant boxes in block capital letters.
1. Name of the issuer
Rentokil Initial plc
2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act 2006.
Pursuant to (i) and (iii) above
3. Name of person discharging managerial responsibilities/director
i) Andy Ransom (Director)
ii) Jeremy Townsend (Director)
iii) Jrgen Hfling (PDMR)
iv) John Myers (PDMR)
v) Stewart Power (PDMR)
vi) Martin Sawkins (PDMR)
vii) Phill Wood  (PDMR)
4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
Not applicable
5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest
Pursuant to 3. above
6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares
Ordinary shares of 1 pence each
7. Name of registered shareholder(s) and, if more than one, the number of shares held by each of them
Not applicable
8 State the nature of the transaction
Awards under the Performance Share Plan - 2015 award
9. Number of shares, debentures or financial instruments relating to shares acquired
Not applicable
10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
11. Number of shares, debentures or financial instruments relating to shares disposed
Not applicable
12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
13. Price per share or value of transaction
Not applicable
14. Date and place of transaction
Not applicable
15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
Not applicable
16. Date issuer informed of transaction
Not applicable
If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17. Date of grant
31 March 2015 - Performance Share Plan award
18. Period during which or date on which it can be exercised
01 April 2018 to 31 March 2025 (subject to performance conditions) 
19. Total amount paid (if any) for grant of the option
Nil
20. Description of shares or debentures involved (class and number)
Ordinary shares of 1 pence each

Target award
Maximum award*
Type of award
Andy Ransom
632,324
1,053,874~
Performance share plan
Jeremy Townsend
338,745
677,490
Performance share plan

Award
Type of award
Jrgen Hfling
228,069
Performance share plan 
John Myers
217,760
Performance share plan 
Stewart Power
179,659
Performance share plan
Martin Sawkins
195,794
Performance share plan
Phill Wood
238,284
Performance share plan
Two-thirds of the award relates to relative TSR performance targets and one-third to EPS performance targets. 
* The awards to Andy Ransom and Jeremy Townsend are subject to a performance modifier and maximum vesting is only applicable in the event of maximum annual bonus outperformance for the three year performance measurement period
~ Andy Ransom's maximum award is capped at 200% of salary
21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
Nil
22. Total number of shares or debentures over which options held following notification

Target award
Maximum award
Type of award
Andy Ransom
632,324
1,053,874
Performance share plan 2015

680,713
1,134,522
Performance share plan 2014

275,229
458,716
Supplementary performance share plan 2013

 551,318
 937,500
Performance share plan 2013

541,190
1,082,380
Performance share plan 2012

2,680,774
4,666,992
Total
Jeremy Townsend
338,745
677,490
Performance share plan 2015

364,667
729,334
Performance share plan 2014

460,593
921,186
Performance share plan 2013

521,346
1,042,692
Performance share plan 2012

1,685,351
3,370,702
Total




Jrgen Hfling
228,069
228,069
Performance share plan 2015

228,069
228,069
Total
John Myers
217,760
217,760
Performance share plan 2015

154,117
154,117
Performance share plan 2014

199,848
199,848
Performance share plan 2013

221,795
332,692
Performance share plan 2012

64,961
64,961
Performance share plan 2008**

858,481
969,378
Total
Stewart Power
179,659
179,659
Performance share plan 2015

192,463
192,463
Performance share plan 2014

372,122
372,122
Total
Martin Sawkins
195,794
195,794
Performance share plan 2015

210,777
210,777
Performance share plan 2014

 265,625 
 398,437 
Performance share plan 2013

296,752
445,128
Performance share plan 2012

968,948
1,250,136
Total
Phill Wood
238,284
238,284
Performance share plan 2015

255,267
255,267
Performance share plan 2014

165,980
165,980
Performance share plan 2013

186,049
279,073
Performance share plan 2012

845,580
938,604
Total




** Vested and unexercised.
Awards granted in 2011 lapsed on 1 August 2014.
23. Any additional information
Not applicable
24. Name of contact and telephone number for queries
Alexandra Laan, Assistant Company Secretary - +44 (0)1276 607444
25. Name of authorised official of issuer responsible for making notification and date of notification
Daragh Fagan, Company Secretary - 01 April 2015

This information is provided by RNS
The company news service from the London Stock Exchange
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