RNS Number : 4044A
Axis-Shield PLC
07 October 2009
Axis-Shield PLC Long Term Incentive Plan
Axis-Shield PLC ('the Company') announces that on 6 October 2009 it made a grant of performance and retention awards under its Long Term Incentive Plan ('LTIP') over a total of 455,500 ordinary shares of 35 pence each to a total of 90 employees. This is the fourth grant of awards to be made under the LTIP following its approval at the Company's annual general meeting in May 2006.
Of this amount, awards were made to Executive Directors and other Persons Discharging Managerial Responsibilities ('PDMR') as detailed in the table below:
|
Name
|
Role
|
No. of Shares subject to performance awards
|
No. of Shares subject to retention awards
|
Total no. of Shares subject to options and awards now held
|
|
Ian Gilham
|
Executive Director
|
70,000
|
-
|
570,000
|
|
Ronny Hermansen
|
Executive Director
|
47,000
|
-
|
209,400
|
|
Dr Erling Sundrehagen
|
Executive Director
|
47,000
|
-
|
537,500
|
|
Kjersti Grimsrud
|
PDMR
|
18,750
|
-
|
87,150
|
|
Colin King
|
PDMR
|
18,750
|
-
|
69,750
|
|
Simon Richards
|
PDMR
|
18,750
|
-
|
23,750
|
|
Atle Schjott
|
PDMR
|
18,750
|
-
|
93,825
|
|
Ralf Schmidt
|
PDMR
|
18,750
|
-
|
65,250
|
|
John Sperzel
|
PDMR
|
18,750
|
-
|
116,750
|
|
George Zajlcek
|
PDMR
|
18,750
|
-
|
101,045
|
|
David Bond
|
PDMR
|
4,000
|
1,500
|
17,000
|
|
Oddvar Vanberg
|
PDMR
|
2,000
|
1,250
|
53,275
|
The above grant of performance awards will ordinarily vest on 6 October 2012 but only to the extent that certain performance criteria are satisfied by the Company over a period of three consecutive financial years. No consideration was payable for the grant of the performance awards and the receipt of shares is conditional upon meeting the performance criteria.
The above retention awards granted under the LTIP will also ordinarily vest on 6 October 2012, subject only to the continuing employment of the relevant participant.
It is currently intended that the Company's Employee Benefit Trust ('EBT') will acquire shares to fulfil any obligation arising from the vesting of both the performance awards and the retention awards.
The notification of these awards is intended to satisfy the Company's obligations under Disclosure and Transparency Rule ('DTR') 3.1.4R.
This announcement requires to be made on the London Stock Exchange and is repeated in Norway for Oslo Stock Exchange purposes in accordance with the 'equivalent information' rule (Rule DTR 2.4 of the UK Listing Authority Rules).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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