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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Videndum Plc | LSE:VID | London | Ordinary Share | GB0009296665 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 1.06% | 285.00 | 274.50 | 291.00 | 290.00 | 280.00 | 290.00 | 485,753 | 16:35:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Photographic Equip & Supply | 451.2M | 32.9M | 0.7060 | 4.01 | 131.87M |
TIDMVTC
RNS Number : 6438Q
The Vitec Group PLC
01 March 2016
1 March 2016
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)
Long Term Incentive Plan (LTIP) - 2016 Awards
The Vitec Group plc ("the Company") announces that on 1 March 2016 the following awards of ordinary shares of 20 pence each were made under the Company's LTIP to Directors and PDMRs.
Name Position Award of LTIP shares (subject to satisfaction of performance conditions) --------------- --------------- ---------------------------- Stephen Group Chief Bird Executive 103,362 --------------- --------------- ---------------------------- Group Finance Paul Hayes Director 71,057 --------------- --------------- ---------------------------- Martin Green PDMR 43,269 --------------- --------------- ---------------------------- Marco Pezzana PDMR 51,448 --------------- --------------- ---------------------------- Jon Bolton PDMR 31,953 --------------- --------------- ----------------------------
Subject to satisfaction of performance conditions, the awards made under the Long Term Incentive Plan will vest following the end of the three year performance period on 1 March 2019.
50% of the award is subject to the Company's total shareholder return ("TSR") ranked against the constituents of the FTSE 250 index (excluding financial services companies and investment trusts). For median performance in the comparator group there will be 25% vesting and for upper quartile performance there will be full vesting, with a straight line sliding scale between these two points. None of this part of the award will vest for TSR performance below the median.
50% of the award is subject to the growth in the Company's basic earnings per share, excluding restructuring costs and charges associated with acquired businesses ("Adjusted EPS"). Adjusted EPS growth of 5% average per annum will be threshold with 25% of this part of the award vesting and Adjusted EPS growth of 12% or higher average per annum will result in all of this part of the award vesting, with a straight line sliding scale between these two points. None of this part of the award will vest for Adjusted EPS growth lower than 5% average per annum.
Both performance conditions are independent of one another.
Long Term Incentive Plan (LTIP) - Lapse of 2013 Awards
The Company further confirms that neither of the performance conditions associated with awards made under the LTIP on 21 March 2013 reached threshold performance conditions for vesting and hence all awards under the 2013 LTIP will lapse on their third anniversary on 21 March 2016. The performance conditions were based 50% on earnings per share growth and 50% on Total Shareholder Return performance compared to a comparator group.
Details of the number of awards that have lapsed along with each Executive Director and PDMR's current holdings in the Company's shares following this lapse and the award of the 2016 LTIP are set out below.
Name Position Number of Current 2013 LTIP shareholding* awards lapsed --------------- --------------- --------------- ---------------- Stephen Group Chief 255,614 Bird Executive 61,833 (53,522) --------------- --------------- --------------- ---------------- Group Finance Paul Hayes Director 42,507 78,129 (37,724) --------------- --------------- --------------- ---------------- Martin Green PDMR 30,197 32,893 (15,021) --------------- --------------- --------------- ---------------- Marco Pezzana PDMR 35,823 28,204 (11,039) --------------- --------------- --------------- ---------------- Jon Bolton PDMR 23,893 27,052 (5,588) --------------- --------------- --------------- ----------------
* The number in brackets refers to the number of ordinary shares purchased in the market with funds provided by the Executive Director or PDMR and which are held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.
Enquiries:
Jon Bolton
Group Company Secretary
020 8332 4600
A Snapshot of The Vitec Group
Vitec is a global provider of premium branded products and services to the Broadcast and
Photographic markets. Vitec is listed on the London Stock Exchange with 2015 revenue of GBP317.8 million.
The Group is organised in two Divisions:
The Broadcast Division designs, manufactures and distributes premium branded products for broadcasting, film and video production for broadcasters and independent content creators. It also provides premium services including equipment rental and technical solutions to TV production teams and film crews.
The Photographic Division designs, manufactures and distributes premium branded equipment and provides dedicated solutions to professional and non-professional image takers.
More information can be found at: www.vitecgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 01, 2016 07:16 ET (12:16 GMT)
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