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TT electronics PLC  -  TTG   

TT Electronics plc - Long Term Incentive Plan

Released 10:47 19-Apr-2013

RNS Number : 7797C
TT electronics PLC
19 April 2013
 



19 April 2013

 

TT electronics plc

Long Term Incentive Plan

 

 

TT electronics plc ("the Company") announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") was made on 17 April 2013 to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

 

Executive Director/PDMR                                                      Maximum Number
                                                                                                      of Shares

 

Geraint Anderson

242,528

Shatish Dasani

166,079

Tim Roberts

140,000

Patrick Murray

80,000

John Molloy

80,000

Per-Olof Ahlstrom

30,000

John Leighton-Jones

30,000

Lynton Boardman

30,000

 

No consideration is payable for the award.

 

The award will vest in three years from the date of grant, subject to achievement of the performance conditions.  Two separate performance targets apply:

 

The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets.  25 per cent of the shares subject to this part of the award will vest for EPS growth of 10 per cent compound per annum in excess of the Retail Price Index ("RPI"), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 15 per cent compound per annum in excess of RPI.

 

The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts).  25 per cent of the shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.

 

 

 

 

For further information please contact:

 

TT electronics plc

Geraint Anderson, Group Chief Executive:                              Tel:  01932 825300

 

Hudson Sandler

Andrew Hayes / Wendy Baker:                                                 Tel:  020 7796 4133

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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TT Electronics plc - Long Term Incentive Plan - RNS