Luceco PLC Replacement Director/PDMR Shareholding (5969H)

TIDMLUCE

RNS Number : 5969H

Luceco PLC

08 June 2017

LUCECO PLC (THE "COMPANY")

REPLACEMENT ANNOUNCEMENT

Amendments have been made to the 'Grant of awards under performance share plan' announcement released on 30 May 2017 at 11.53am under RNS number 5729G due to an incorrect exercise price having been used to calculate the number of shares awarded.

The full amended text is shown below.

8 June 2017

GRANT OF AWARDS UNDER PERFORMANCE SHARE PLAN

The Company announces that awards have been granted to the following Persons Discharging Managerial Responsibility ("PDMRs") under the Luceco 2017 Performance Share Plan ("PSP"), which was approved by shareholders at the Company's AGM held on 25 May 2017.

Each of the following PDMRs have been granted awards in the form of nil-cost options over the number of ordinary shares of 0.05 pence in the Company under the terms of the PSP as set out below:

 
      PDMR                   Role                 Number of 
                                                shares awarded 
---------------  ---------------------------  ---------------- 
  John Hornby      Chief Executive Officer         145,331 
---------------  ---------------------------  ---------------- 
   David Main      Chief Financial Officer         72,665 
---------------  ---------------------------  ---------------- 
   Wayne Hill     Group Commercial Director        36,333 
---------------  ---------------------------  ---------------- 
 Ian Pritchard        Company Secretary            24,378 
---------------  ---------------------------  ---------------- 
                     Group Specification 
 John Williams             Director                26,160 
---------------  ---------------------------  ---------------- 
 

In addition each PDMR has been awarded a linked tax qualifying option over 12,457 shares at an exercise price of GBP2.408. On exercise the number of shares under the nil-cost option will be reduced proportionally to take account of any gain on the exercise of the tax qualifying option such that the PDMR will not receive a greater number of shares than is subject to the nil-cost option.

The awards will vest subject to the satisfaction of performance conditions measuring the Company's earnings per share and total shareholder return performance. The extent to which awards will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 January 2017 to 31 December 2019. No consideration was paid for any of the awards

This notification is made in accordance with the Market Abuse Regulation ("MAR"). Template notifications required by the MAR are attached to this announcement.

 
1    Details of the person discharging managerial responsibilities/person closely associated 
    ------------------------------------------------------------------------------------------------------------------ 
a)   Name                                  1. John Hornby 
 
                                            2. David Main 
 
                                            3. Wayne Hill 
 
                                            4. Ian Pritchard 
 
                                            5. John Williams 
    ------------------------------------  ---------------------------------------------------------------------------- 
2    Reason for the notification 
    ------------------------------------------------------------------------------------------------------------------ 
a)   Position/status                       1. PDMR 
 
                                            2. PDMR 
 
                                            3. PDMR 
 
                                            4. PDMR 
 
                                            5. PDMR 
    ------------------------------------  ---------------------------------------------------------------------------- 
b)   Initial notification/Amendment        Amendment 
    ------------------------------------  ---------------------------------------------------------------------------- 
3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
      or auction monitor 
    ------------------------------------------------------------------------------------------------------------------ 
a)   Name                                  Luceco PLC 
    ------------------------------------  ---------------------------------------------------------------------------- 
b)   LEI                                   213800BBFZK4W4P98U76 
    ------------------------------------  ---------------------------------------------------------------------------- 
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
      each type of transaction; (iii) each date; and (iv) each place where transactions have been 
      conducted 
    ------------------------------------------------------------------------------------------------------------------ 
a)   Description of the financial          Ordinary shares of GBP0.0005 each 
     instrument, type of instrument         ISIN: GB00BZC0LP49 
     Identification code 
    ------------------------------------  ---------------------------------------------------------------------------- 
b)   Nature of transaction                1,2,3,4 and 5- An award of Ordinary Shares made under the Luceco PLC 
                                          Performance Share Plan 
                                          ("PSP") on 25 May 2017. 
    ------------------------------------  ---------------------------------------------------------------------------- 
c)   Price(s) and volume(s)                Price(s)                               Volume(s) 
    ------------------------------------  -------------------------------------  ------------------------------------- 
                                           1. GBP2.408                            1. 145,331 
                                            2. GBP2.408                            2. 72,665 
                                            3. GBP2.408                            3. 36,333 
                                            4. GBP2.408                            4. 24,378 
                                            5. GBP2.408                            5. 26,160 
    ------------------------------------  -------------------------------------  ------------------------------------- 
d)   Aggregated information 
      - Aggregated volume                    N/A (Single transaction) 
      - Price 
    ------------------------------------  ---------------------------------------------------------------------------- 
e)   Date of the transaction               25 May 2017 
    ------------------------------------  ---------------------------------------------------------------------------- 
f)   Place of the transaction              Outside a trading venue (XOFF) 
    ------------------------------------  ---------------------------------------------------------------------------- 
 

ENDS

For further information, contact David Main, Chief Financial Officer 01952 238100

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 08, 2017 12:02 ET (16:02 GMT)