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

SIGAnnouncement

29/10/2014 12:58

RNS Number : 0680S
SIG PLC
18 September 2014
SIG plc
18 September 2014
Ordinary Shares of 10p each
SIG plc (the "Company") announces that on 18 September 2014 it granted awards in the UK over ordinary shares in the Company in connection with the SIG plc 2014 Long Term Incentive Plan ("LTIP").
Pursuant to DR 3.1.4 and following notifications received on 18 September 2014 in fulfilment of the obligations imposed by DR 3.1.2 we hereby announce that the following awards have been granted to PDMRs.
Director/PDMR
Plan
Current Award
Exercise Price (pence)
Existing Award
Total number of shares over which awards now held
Mr S R Mitchell
Group Chief Executive
LTIP
466,628
NIL
363,036
829,664
Tax-advantaged Section1
NIL
NIL
19,801
19,801
Mr D G Robertson
Group Finance Director
LTIP
280,817
NIL
513,336
794,153
Tax-advantaged Section1
NIL
NIL
19,801
19,801
Ms L Kennedy
Group HR Director
LTIP
144,230
NIL
NIL
144,230
Tax-advantaged Section1
16,968
176.8
NIL
16,968
Mr R Barclay
Managing Director - UK and Ireland
LTIP
173,076
NIL
344,382
517,458
Tax-advantaged Section1
NIL
NIL
19,801
19,801
The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price (an LTIP award), together (in the case of those individuals indicated above) with a market price option under the tax-advantaged section at an exercise price of 176.8p per share, in each case to acquire shares in the future, subject to the performance conditions being achieved.
Subject to the rules of the LTIP including the Tax-advantaged Section and the satisfaction of the performance conditions below, the earliest vesting date of the award is normally 17 September 2017.
The performance condition relates to the three year average ROCE of the Group and the three year cumulative underlying EPS of the Group as set out in the Directors' Remuneration Report for the year ended 31 December 2013.
In addition, a "phantom award" was granted in respect of 164,834 ordinary shares to Mr D Kilby (Managing Director - Mainland Europe). This phantom award is granted on terms equivalent to the LTIP and subject to the same performance conditions, but is a right to receive a cash sum calculated by reference to the value of the relevant number of shares on vesting, and gives no right to the shares themselves. 
1Share options were granted under the SIG plc 2014 Long Term Incentive Plan Tax-advantaged Section ("Tax-advantagedSection") on similar terms to the LTIP Awards. The Tax-Advantaged Section has been established as a tax-favoured Company Share Option Plan in accordance with Schedule 4 to the Income Tax (Earnings and Pensions) Act 2003. At the time of exercise, to the extent that there is a gain on the options granted under the Tax-advantaged Section, Tax-advantaged Awards will be forfeited to the same value.
R C Monro
Company Secretary 0114 285 6355

This information is provided by RNS
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