REG - TT electronics PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">TTG.L</Origin>

TT electronicsAnnouncement

29/10/2014 14:56

RNS Number : 8818P
TT electronics PLC
22 August 2014
22.08.14
TT Electronics plc 
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
This notification is made in accordance with DTR 3.1.4(1)(a).
TT Electronics plc ("the Company") announces that on 22 August 2014 the following awards were granted to the Company's Chief Executive Officer, Richard Tyson, a Person Discharging Managerial Responsibility:
1. Long Term Incentive Plan ("LTIP")
A conditional award, under the LTIP, of a maximum of 223,214 Ordinary shares of 25p each in the Company. No consideration is payable for grant of the award. 
The award will ordinarily vest in three years from the date of grant, subject to the achievement of the performance conditions. Two separate performance targets apply:
The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets. 25 per cent of the shares subject to this part of the award will vest for EPS growth of 7 per cent compound per annum in excess of the Retail Price Index ("RPI"), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 12 per cent compound per annum in excess of RPI.
The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts). 25 per cent of the shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.
2. Share Award
An award of 218,626 Ordinary shares of 25p each in the Company. This award was granted in accordance with Listing Rule 9.4.2(2). The award should ordinarily vest in two tranches (in April 2015 and April 2016 respectively) and was made in recognition of the loss of forfeited awards from his former employer. No consideration is payable for the grant of the award.
22 August 2014
For further information please contact:
Hudson Sandler
Andrew Hayes/Wendy Baker/Katie Matthews: Tel: 0207 796 4133

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