REG - Vesuvius plc - Director/PDMR Shareholding <Origin Href="QuoteRef">VSVS.L</Origin>

VesuviusAnnouncement

08/04/2015 16:50

RNS Number : 6557J
Vesuvius plc
08 April 2015
Vesuvius plc
8 April 2015 
Notification of Transactions of Persons Discharging Managerial Responsibility
This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules
Vesting of 2012 LTIP Awards
In accordance with the rules of the Cookson Group Long-Term Incentive Plan, the allocations of Performance and Matching Shares awarded to Francois Wanecq on 5 April 2012 vested on 7 April 2015, following the application of the performance conditions specified at the time of grant. Following the demerger in December 2012, the Awards over Cookson Group plc Shares were rolled-over to become an award over ordinary shares of 10 pence in Vesuvius plc ("Vesuvius Shares").
The Remuneration Committee awarded dividends in respect of the Vesuvius Shares that vested. As a result, Mr Wanecq will receive a cash payment equivalent in value to the dividends that would have accrued on the Vesuvius Shares that vested during the three year vesting period. 
The Vesuvius Shares to satisfy the vesting of these awards have been sourced from Vesuvius' Employee Share Ownership Trust and Mr Wanecq has sold sufficient shares to meet his associated tax and social security liabilities and the dealing costs for selling these shares. The remaining Vesuvius Shares for Mr Wanecq will be transferred into his own name. 
F C Wanecq
Performance Shares Vested
Matching Shares Vested
Total number of shares sold to cover dealing costs, tax and social security liabilities
Total Shares to be retained
40,370
15,939
26,492
29,817
The mid-market closing price of Vesuvius Shares on the date of vesting was 5.17.
Following the transaction detailed above, the interests of Francois Wanecq in Vesuvius Shares are as follows:-
Shareholdings:
Executive Director
Total shareholding prior to this notification
Shares to be retained
Total shareholding following notification
Percentage of share capital (excluding treasury shares) held following notification
F C Wanecq
1,290,147
29,817
1,319,964
0.487%
Name of contacts and telephone numbers for queries:
Henry Knowles, General Counsel and Company Secretary, +44 (0) 20 7822 0000
Virginia Skroski, Investor Relations Manager +44 (0) 20 7822 0016

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