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SPT Spirent Communications Plc

200.00
21.00 (11.73%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Spirent Communications Plc LSE:SPT London Ordinary Share GB0004726096 ORD 3 1/3P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  21.00 11.73% 200.00 199.70 199.90 201.60 196.70 198.00 57,288,620 16:35:25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Communications Equip, Nec 474.3M 25.2M 0.0435 45.95 1.16B

Spirent Communications PLC Director/PDMR Shareholding (5011J)

29/03/2018 5:51pm

UK Regulatory


Spirent Communications (LSE:SPT)
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TIDMSPT

RNS Number : 5011J

Spirent Communications PLC

29 March 2018

SPIRENT COMMUNICATIONS PLC (the "Company")

29 March 2018

DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of Performance Share Award under Spirent Long-term Incentive Plan

The Company confirms that on 23 March 2018, the performance conditions attached to 268,293 Performance Shares awarded to Paula Bell on 30 September 2016 as part of her remuneration package on appointment to the Company were tested, with the following results:

   50% of awards subject to EPS performance condition         50.90% vest 
   50% of awards subject to TSR performance condition         81.10% vest 

As a result, 177,073 shares vested and became exercisable by Ms Bell. Performance Shares forming part of this award which did not vest have lapsed.

Awards of Performance Shares under the Spirent Long-term Incentive Plan are not tax approved and therefore on vesting income tax and social security deductions become payable by the individual. To settle this tax liability, on 27 March 2018 Ms Bell sold 99,977 Ordinary shares at a price of 114.492 pence per share. Ms Bell then transferred the balance of 77,096 shares to a Person Closely Associated, her partner Mr Dean Ritchie.

Following this notification, Ms Bell has the following beneficial interests in the Company:

 
 Director /    Total number   Total number 
  PDMR          of             of shares 
                shares held    over which options 
                               held 
------------  -------------  -------------------- 
 Paula Bell    227,096        572,344 
------------  -------------  -------------------- 
 
 
 1.   Details of PDMR / person closely associated 
---  ----------------------------------------------------------------------- 
      Name                            Paula Bell 
---  ------------------------------  --------------------------------------- 
 2.   Reason for the notification 
---  ----------------------------------------------------------------------- 
 a)   Position / status               Chief Financial Officer 
---  ------------------------------  --------------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
---  ------------------------------  --------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------------------- 
 a)   Full name of the                Spirent Communications plc 
       entity 
---  ------------------------------  --------------------------------------- 
 b)   Legal Entity Identifier         213800HKCUNWP1916L38 
       Code 
---  ------------------------------  --------------------------------------- 
 4.   Details of the transaction(s) 
---  ----------------------------------------------------------------------- 
 a)   Description of                  Ordinary shares of 3 1/3 pence 
       the financial instrument        each 
 
       Identification 
       code                            GB0004726096 
---  ------------------------------  --------------------------------------- 
 b)   Nature of the transaction            (i) Exercise of shares arising 
                                            from Spirent Long-term Incentive 
                                            Plan at nil-cost 
                                            (ii) Sale of shares to cover 
                                            tax and national insurance 
                                            liabilities 
                                            (iii) Transfer of shares to 
                                            Person Closely Associated 
---  ------------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)                    Price(s)      Volume(s) 
                                       -------  ------------  ---------- 
                                        (i)      GBP0.0000     177,073 
                                       -------  ------------  ---------- 
                                        (ii)     GBP1.14492    99,977 
                                       -------  ------------  ---------- 
                                        (iii)    GBP0.0000     77,096 
                                       -------  ------------  ---------- 
---  ------------------------------  --------------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     n/a 
 
                                        n/a 
 
             *    price 
---  ------------------------------  --------------------------------------- 
 e)   Date of the transaction         27 March 2018 
---  ------------------------------  --------------------------------------- 
 f)   Place of the transaction        (i) Outside a trading venue 
                                       (ii) London 
                                       (iii) Outside a trading venue 
---  ------------------------------  --------------------------------------- 
 

Enquiries

   Michelle Balch                         Spirent Communications plc              +44 (0)1293 767676 

Deputy Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHFKCDNABKDKNB

(END) Dow Jones Newswires

March 29, 2018 12:51 ET (16:51 GMT)

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