ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

MRO Melrose Industries Plc

675.00
4.40 (0.66%)
Last Updated: 13:40:05
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Melrose Industries Plc LSE:MRO London Ordinary Share GB00BNGDN821 ORD 160/7P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.40 0.66% 675.00 674.80 675.00 676.60 667.00 670.80 2,372,524 13:40:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services 4.93B -1.02B -0.7540 -8.93 9.1B

Melrose Industries PLC Posting of Annual Report and Circular (9703B)

07/04/2017 2:49pm

UK Regulatory


Melrose Industries (LSE:MRO)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Melrose Industries Charts.

TIDMMRO

RNS Number : 9703B

Melrose Industries PLC

07 April 2017

7 April 2017

Melrose Industries PLC (the "Company")

Posting of Annual Report and Circular

The Company announces that its Annual Report for the year ended 31 December 2016 and, pursuant to Listing Rule 9.6.3, a circular and notice of General Meeting (the "Circular") in relation to Melrose's proposed renewal of the management incentive plan arrangements have been posted to Shareholders today. In accordance with Listing Rule 9.6.1, the Circular will also be available for download on Melrose's website at www.melroseplc.net and a copy will be submitted to the National Storage Mechanism where it will be available for inspection at www.morningstar.co.uk/uk/NSM.

As set out in the Circular, the Remuneration Committee has determined that 16,542 Options will be granted for nil consideration over 2017 Incentive Shares, conditional upon shareholder approval being obtained at the General Meeting and with effect from 31 May 2017. These included the grants outside a trading venue of 2,583 Options to each of Christopher Miller and David Roper and 2,833 Options to each of Simon Peckham and Geoffrey Martin, which were notified by the recipients to the Company today, pursuant to Article 19(1) of the Market Abuse Regulation (2014/596/EU) ("MAR"), each of whom is a "person discharging managerial responsibility", as such term is defined in Article 3(1)(25) of MAR.

The Circular also provides background on the crystallisation of the existing incentive plan, including the Remuneration Committee's determination to cancel a portion of the Existing Options in exchange for a cash payment to the holders of those Existing Options sufficient to meet the related tax liability, which is classified as a smaller related party transaction under Listing Rule 11.1.10 R and will reduce the dilutive effect on Shareholders of issuing Ordinary Shares that would otherwise be immediately sold to meet such a tax liability, and its determination to convert the balance of Existing Incentive Shares into Ordinary Shares on crystallisation on 31 May 2017 instead of paying a cash dividend, which ensures management remain aligned with Shareholders.

Terms used in this announcement shall have the same meanings as set out in the Circular.

-ends-

Enquiries:

Montfort Communications

   Nick Miles / Charlotte McMullen                   +44 (0) 203 514 0897 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCXDLFBDZFZBBV

(END) Dow Jones Newswires

April 07, 2017 09:49 ET (13:49 GMT)

1 Year Melrose Industries Chart

1 Year Melrose Industries Chart

1 Month Melrose Industries Chart

1 Month Melrose Industries Chart

Your Recent History

Delayed Upgrade Clock