Director/PDMR Shareholding
(Thomson Reuters ONE) -
Novae Group plc
Director / PDMR shareholding
The executive directors of Novae Group plc ("the Company" or "the Group") have
acquired £1.00 ordinary shares in the Company ("Shares") as a result of the
partial vesting and release of an LTIP award made under the terms of the 2007
Long Term Incentive Plan ("LTIP") on 14 May 2007 ("the 2007 Awards"). As a
result, the executive directors' holdings have increased by 52,222 Shares in the
aggregate. The executive directors' beneficial interests now amount to
3,066,648 Shares representing 4.188% of the Company's issued ordinary share
capital.
The 2007 Awards were released by the Trustee of the LTIP, Ogier Employee Benefit
Trustee Limited ("the Trustee") on 4 March 2010, to the extent warranted by
partial satisfaction of the performance conditions and following the completion
of the three year performance period ended 31 December 2009. The executive
directors received 88,507 Shares in aggregate. A further 67,224 Shares were
released to 24 other employees on the same date.
On release, the 2007 Awards are subject to income tax at the recipient's
marginal rate of 40% ("Tax") and employee's National Insurance contributions
("NIC") at 1% on the value of the Shares. The Shares sold by directors to cover
Tax and NIC were sold on 4 March 2010 at £3.125 per Share. Individual net
beneficial interests of directors are shown in the table below.
+-----------+-------------+------+--------------+---------------+-------+------+
|Name |Holding b/fwd| %|Release of |Disposals for |Holding| %|
| | | |2007 Awards |Tax and NIC | c/fwd| |
| | | | | | | |
+-----------+-------------+------+--------------+---------------+-------+------+
|JR Adams | 572,203|0.781%| 16,390| (6,719)|581,874|0.795%|
+-----------+-------------+------+--------------+---------------+-------+------+
|ORP Corbett| 377,035|0.515%| 17,483| (7,168)|387,350|0.529%|
+-----------+-------------+------+--------------+---------------+-------+------+
|MK Fosh | 874,646|1.195%| 21,854| (8,960)|887,540|1.212%|
+-----------+-------------+------+--------------+---------------+-------+------+
|PC Matson | 577,207|0.788%| 16,390| (6,719)|586,878|0.802%|
+-----------+-------------+------+--------------+---------------+-------+------+
|AM Nichols | 613,335|0.838%| 16,390| (6,719)|623,006|0.851%|
+-----------+-------------+------+--------------+---------------+-------+------+
The executive directors' SIP interests are disclosed annually and are not
included in the reported aggregate beneficial interest. The executive directors'
contingent interests in Shares which are the subject of awards made under the
LTIP are disclosed separately.
Employee Benefit Trust holdings
On 4 March 2010 the Trustee notified the Company that there was a net reduction
of 94,328 Shares held in the trust following the release of the 2007 Awards (and
similar releases to other senior employees).Following these transactions, the
Trustee holds a total of 562,101 Shares, representing 0.768% of the Company's
issued ordinary share capital. The executive directors of the Company, together
with other employees, are potential beneficiaries under the trust and are
therefore treated as having an interest in such Shares.
For further enquiries:
MJ Turvey
Group Legal Counsel and Company Secretary
020 7903 7300
[HUG#1391122]
Unternehmensinformation / Kurzprofil:
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" alt="Formation Metals Receives First Term Sheet for Project Finance Bank Debt FacilityDatum: 04.03.2010 - 18:32 Uhr
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