Tyman PLC 2017 LTIP Awards and Directors' Dealings (5978Z)

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RNS Number : 5978Z

Tyman PLC

15 March 2017

TYMAN PLC

("Tyman" or the "Company")

2017 LTIP Awards and Directors' Dealings

Tyman plc, a leading international supplier of engineered components to the door and window industry, announces that on 14 March 2017 ("Award Date") the Remuneration Committee of the Company (the "Committee") granted share awards (the "2017 Awards") under the Tyman Long Term Incentive Plan (the "LTIP"), in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares").

2017 Awards have been granted to the two Executive Directors and a further 28 senior managers and executives of the Company over a total of 792,477 Ordinary Shares.

Awards were made to the following Executive Directors:

 
 Name                Number of Shares 
------------------  ----------------- 
 Louis Eperjesi          140,661 
------------------  ----------------- 
 James Brotherton         86,816 
------------------  ----------------- 
 

Vesting of 2017 Awards

Vesting of 2017 Awards is based on the Company's three year cumulative underlying earnings per share ("EPS") for the financial years 2017 to 2019, and is subject to the satisfaction of specific performance criteria and other conditions.

Five year holding period

Awards granted to the Executive Directors and members of the Tyman Management Committee shall be subject to a Compulsory Holding Period of five years from the Award Date.

Timetable and Awards Outstanding

2017 Awards are expected to vest in March 2020, following the announcement of the Company's results for the year ended 31 December 2019 and the holding requirement is expected to lapse on 14 March 2022.

In aggregate, as at today's date, a total of 2,199,940 awards are outstanding over the Company's Ordinary Shares under the LTIP.

15 March 2017

 
 
 
 
   Enquiries: 
 Tyman plc                                020 7976 8000 
 Carolyn Gibson - Company Secretary    www.tymanplc.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 15, 2017 12:00 ET (16:00 GMT)