Creston PLC Director/PDMR Shareholding (9126E)

TIDMCRE

RNS Number : 9126E

Creston PLC

21 July 2016

 
 21 July 2016 
 
 
                     Creston plc 
 
              ('Creston' or the 'Group') 
 
     Grant of Awards to Executive Directors under 
             the Long Term Incentive Plan 
 
 

Creston plc (LSE: CRE) announces that, on 21 July 2016, the Group granted the following conditional share awards (the "Awards") to the Executive Directors under the Creston Long Term Incentive Plan 2015 ("LTIP") approved by shareholders at the 2015 Annual General Meeting. The Awards were granted at a share price of 89.7 pence per ordinary share (being the average of the middle market quotations of the Company's shares during a period of 3 dealing days immediately prior to the date of grant) as set out below:

 
     Name          Award Type        Number of       Market value 
                                   ordinary shares     of shares 
                                     subject to       at the date 
                                     LTIP Award       of the Award 
                                                         (GBP) 
--------------  ---------------  -----------------  -------------- 
 Barrie Brien      Core Award         423,791           380,000 
--------------  ---------------  -----------------  -------------- 
 Barrie Brien    Stretch Award        423,791           380,000 
--------------  ---------------  -----------------  -------------- 
 Kathryn 
  Herrick          Core Award         128,252           115,000 
--------------  ---------------  -----------------  -------------- 
 Kathryn 
  Herrick        Stretch Award        128,252           115,000 
--------------  ---------------  -----------------  -------------- 
 

After granting the Awards the Executive Directors now hold the following beneficial interests:

 
     Name         Number of        Number of       Total shareholding 
                  conditional    ordinary shares      of currently 
                  shares held       currently          held shares 
                   following          held                 (%) 
                     Award 
--------------  -------------  -----------------  ------------------- 
 Barrie Brien     1,813,273         361,671              0.62% 
--------------  -------------  -----------------  ------------------- 
 Kathryn 
  Herrick          548,700           5,700               0.01% 
--------------  -------------  -----------------  ------------------- 
 

The conditional shares granted under the Awards will normally vest on 12 June 2019, subject to the satisfaction of the stretching performance conditions applying to the respective Core and Stretch Awards and are then required to be held for a further two years.

The performance criteria for which the Core Awards are based on is the performance of the Group's diluted earnings per share over the three year performance period (being the financial years ending 31 March 2017, 2018, and 2019). The performance criteria for which the Stretch Awards are based on is the performance of the Group's relative Total Shareholder Return ("TSR") over the three year performance period (being the financial years ending 31 March 2017, 2018, and 2019). The Group's TSR must exceed the median ranking of the TSR of a comparator group comprising the constituents of the FTSE SmallCap for the award to begin vesting. The award will then vest on a straight line basis from 0 per cent to 100 per cent as the Group's TSR ranks from the median TSR up until the upper decile TSR ranking. See the Directors' Remuneration Report within the FY16 Annual Report and Accounts for further detail.

No consideration will be paid for the conditional shares upon vesting.

For further information please contact:

 
 Creston plc 
                                        [phone] 
 Barrie Brien, Group Chief Executive     9757 
 Kathryn Herrick, Chief Financial 
  Officer 
 
                                        [phone] 
 Bell Pottinger                          2491 
 Elly Williamson/Lucy Stewart 
 

About Creston plc

Creston plc (LSE: CRE), incorporating the Creston Unlimited group offer, is a marketing communications group delivering a range of digital technology-based marketing solutions to blue-chip global clients. Encompassing consultants and discipline experts from across the industry and beyond, Creston Unlimited unlocks the power of creative collaboration to realise the opportunities that exist for brands and businesses in today's rapidly evolving world. www.creston.com / www.creston-unlimited.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 21, 2016 11:22 ET (15:22 GMT)