Promethean World Plc Director PDMR Share Awards (3703R)

TIDMPRW

RNS Number : 3703R

Promethean World Plc

11 September 2014

Promethean World Plc

('Promethean' or 'the Company')

Director/PDMR Share Awards

Promethean World Plc (LSE: PRW) announces that on 10 September 2014, the following share awards, in respect of ordinary 10p shares in Promethean, were made by the Company to the Executive Directors under the Promethean World Plc Performance Share Plan 2011 ("PSP").

 
Director                       Maximum number of nil cost options 
                                (or conditional share awards) awarded 
                                pursuant to the PSP 
Jim Marshall (Chief Executive         800,000 ordinary shares 
 Officer) 
Ian Baxter (Chief Financial           530,000 ordinary shares 
 Officer) 
 

The PSP awards are structured as nil cost unapproved options or as conditional rights to acquire shares. In each case there is no payment requirement by the individuals to acquire the shares.

Both awards are subject to a total shareholder return performance target, measured over a 3 year period, and will vest on the third anniversary of grant.

On the same day, Ian Baxter was also granted 96,000 approved options under the PSP with an exercise price of 31.25p. At the date of exercise, to the extent that there is a gain on the approved options, unapproved PSP awards will be forfeited to the same value.

 
 Enquiries 
 
  Promethean 
  Wendy Baker, Company Secretary         + 44 (0) 1254 290749 
 Citigate Dewe Rogerson Consultancy    + 44 (0) 207 638 9571 
  Anthony Carlisle                      + 44 (0) 7973 611 888 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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