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 £1.125 ordinary shares in the Company ("Shares") as a result of the
partial vesting and release of an award made under the terms of the 2007 Long
Term Incentive Plan ("LTIP") on 14 March 2008 ("the Awards"). As a result, the
executive directors' holdings have increased by 189,114 Shares in the aggregate.
The executive directors' beneficial interests now amount to 1,911,017 Shares
representing 2.936% of the Company's issued ordinary share capital.
The Awards were released by the Trustee of the LTIP, Ogier Employee Benefit
Trustee Limited ("the Trustee") on 14 March 2011, to the extent warranted by the
83% satisfaction of the performance conditions and following the completion of
the three year performance period ended 31 December 2010. The executive
directors received 385,950 Shares in aggregate, prior to deductions for income
tax and national insurance. A further 879,800 Shares, prior to deductions, were
released to 47 other employees on the same date.
On release, the Awards are subject to income tax at the recipient's marginal
income tax rate of 50% ("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 14 March 2011 at £3.879. Individual net beneficial
interests of executive directors are shown in the table below.
+-----------+------------+------+------------+--------------+-----------+------+
|Name | Holding| %| Release of| Disposals for| Holding| %|
| | b/fwd| | 2007 Awards| Tax and NIC| c/fwd| |
| | | | | | | |
+-----------+------------+------+------------+--------------+-----------+------+
|JR Adams | 537,914|0.826%| 128,650| (65,612)| 600,952|0.923%|
+-----------+------------+------+------------+--------------+-----------+------+
|ORP Corbett| 365,401|0.561%| 128.650| (65,612)| 428,439|0.658%|
+-----------+------------+------+------------+--------------+-----------+------+
|MK Fosh | 818,588|1.258%| 128,650| (65,612)| 881,626|1.355%|
+-----------+------------+------+------------+--------------+-----------+------+
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 14 March 2011 the Trustee notified the Company that there was a net reduction
of 529,003 Shares held in the trust following the release of the Awards (and
similar releases to other senior employees). Following these transactions, the
Trustee holds a total of 1,128,208 Shares, representing 1.733% 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
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Novae Group plc via Thomson Reuters ONE
[HUG#1497021]
Unternehmensinformation / Kurzprofil:
Datum: 15.03.2011 - 13:55 Uhr
Sprache: Deutsch
News-ID 52453
Anzahl Zeichen: 4366
contact information:
Town:
London
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Director/PDMR Shareholding"
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Novae Group plc (Nachricht senden)
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