Manx Telecom PLC Director/PDMR Shareholding (4847K)

TIDMMANX

RNS Number : 4847K

Manx Telecom PLC

07 July 2017

7 July 2017

Manx Telecom PLC

Grant of options under the Manx Telecom PLC 2017 Long-Term Incentive Plan (LTIP)

Further to disclosure in the 2016 Annual Report, Manx Telecom plc (the "Company") announces that LTIP awards have been made to Gary Lamb and Danny Bakhshi over shares worth 100% of base salary and will be subject to Total Shareholder Return and Free Cash Flow (FCF) metrics, measured over the three financial years to 2019, with a

weighting of 50:50 respectively.   A sliding scale range has been set for each metric as follows: 

For the 50% of the award subject to cumulative FCF in the 2017, 2018 and 2019 financial years:

 
                            Percentage of the half 
                             of the Award subject 
                             to the FCF Condition 
     Aggregate FCF                that Vests 
-----------------------  --------------------------- 
    Below GBP54.89m                   0% 
-----------------------  --------------------------- 
       GBP54.89m                     25% 
-----------------------  --------------------------- 
  GBP54.89m- GBP59.72m    Vesting on a straight-line 
                             basis between 25% and 
                                     100% 
-----------------------  --------------------------- 
 Between GBP59.72m and 
        GBP59.72m                    100% 
-----------------------  --------------------------- 
 

For the 50% of the award subject to total shareholder return (TSR):

 
      Relative TSR- Manx 
      Telecom PLC ranking 
      versus constituents 
     of the FTSE All Share          Level of vesting for 
  Index (excluding Investment       the half of the award 
            Trusts)                    subject to TSR 
------------------------------  --------------------------- 
         Below median                        0% 
------------------------------  --------------------------- 
            Median                          25% 
------------------------------  --------------------------- 
      Between median and         Vesting on a straight-line 
         upper quartile             basis between 25% and 
                                            100% 
------------------------------  --------------------------- 
   Upper Quartile or better                 100% 
------------------------------  --------------------------- 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The below notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details of the transactions on 7 July 2017.

 
 1.    Details of PDMR / person closely associated 
        with them ('PCA') 
====  ======================================================================== 
 a)    Name                           Gary Edward Lamb 
====  =============================  ========================================= 
 b)    Position /                     Chief Executive Officer 
        status 
====  =============================  ========================================= 
 c)    Initial notification           Initial Notification 
        / amendment 
====  =============================  ========================================= 
 2.    Details of the issuer 
====  ======================================================================== 
 a)    Name                           Manx Telecom plc 
====  =============================  ========================================= 
 b)    LEI                            213800X95NVTAAWYB404 
====  =============================  ========================================= 
 3.    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                    Share Options over Ordinary Shares 
        of the financial               of 0.2p 
        instrument 
====  =============================  ========================================= 
 b)    Nature of                      Grant of options under the Manx 
        the transaction                Telecom PLC 2017 Long-Term Incentive 
                                       Plan 
====  =============================  ========================================= 
 c)    Price(s) and                  Price(s)              Volume(s) 
        volume(s) 
====  =============================  ====================  =================== 
  Nil                                                      153,710 
  =======================================================  =================== 
 d)    Aggregated                     153,710 Share Options over Ordinary 
        information                    Shares of 0.2p 
        Aggregated 
        volume Price 
                                       Nil consideration 
====  =============================  ========================================= 
 e)    Date of the                    7(th) July 2017 
        transaction 
====  =============================  ========================================= 
 f)    Place of the                  Outside a trading venue 
        transaction 
====  =============================  ========================================= 
 
 
 1.    Details of PDMR / person closely associated 
        with them ('PCA') 
====  ======================================================================== 
 a)    Name                           Danny Bakhshi 
====  =============================  ========================================= 
 b)    Position /                     Chief Financial Officer 
        status 
====  =============================  ========================================= 
 c)    Initial notification           Initial Notification 
        / amendment 
====  =============================  ========================================= 
 2.    Details of the issuer 
====  ======================================================================== 
 a)    Name                           Manx Telecom plc 
====  =============================  ========================================= 
 b)    LEI                            213800X95NVTAAWYB404 
====  =============================  ========================================= 
 3.    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                    Share Options over Ordinary Shares 
        of the financial               of 0.2p 
        instrument 
====  =============================  ========================================= 
 b)    Nature of                      Grant of options under the Manx 
        the transaction                Telecom PLC 2017 Long-Term Incentive 
                                       Plan 
====  =============================  ========================================= 
 c)    Price(s) and                  Price(s)              Volume(s) 
        volume(s) 
====  =============================  ====================  =================== 
  Nil                                                      111,307 
  =======================================================  =================== 
 d)    Aggregated                     111,307 Share Options over Ordinary 
        information                    Shares of 0.2p 
        Aggregated 
        volume Price 
                                       Nil consideration 
====  =============================  ========================================= 
 e)    Date of the                    7(th) July 2017 
        transaction 
====  =============================  ========================================= 
 f)    Place of the                  Outside a trading venue 
        transaction 
====  =============================  ========================================= 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHOKODBNBKDFOK

(END) Dow Jones Newswires

July 07, 2017 09:29 ET (13:29 GMT)