RNS Number : 6560D
Hikma Pharmaceuticals Plc
18 May 2012
Hikma Pharmaceuticals PLC - LTIP Awards
LONDON, 18 May 2012: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) announces that, further to the approval of the Ordinary Shareholders of Hikma obtained at the Company's Annual General Meeting yesterday to make awards to the executive directors on 17 May 2012, the Remuneration Committee has made the following conditional awards under the Hikma Pharmaceuticals PLC 2005 Long-Term Incentive Plan (the "LTIP") to Persons Discharging Managerial Responsibility ("PDMR") of the Company.
Awards under the LTIP were made on 18 May 2012 at a price of 612.5 pence per Ordinary Share as follows:
Name of PDMR Number of LTIP Shares
Said Darwazah 97,000
Mazen Darwazah 65,000
The shares subject to the LTIP awards will only be released to the participants in three years time, subject to their continued employment and the satisfaction of the performance targets:
-- comparative Total Shareholder Return ("TSR")
-- Sales Growth
-- earnings per share ("EPS") growth
-- return on invested capital ("ROIC")
Half of the award is subject to TSR against the Comparator Group and requires at least upper quartile performance to vest in full. The remaining half is split equally between the financial targets and requires sales growth of 13%, EPS growth of 20% and ROIC of 12% to vest in full. Each target is measured individually and is independent of the other targets. Further details on these performance criteria and the LTIP can be found in Hikma's report and accounts for the year ended 31 December 2011 on pages 83 to 85.
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Hikma Pharmaceuticals PLC
Peter Speirs +44 20 7399 2760
Hikma Pharmaceuticals PLC is a fast growing multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non--branded generic and in--licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2011, Hikma achieved revenue of $918.0 million and profit attributable to shareholders of $80.1 million.
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