Chemring Group PLC Director/PDMR Shareholding (4305R)
08 3월 2016 - 11:36PM
UK Regulatory
TIDMCHG
RNS Number : 4305R
Chemring Group PLC
08 March 2016
FOR IMMEDIATE RELEASE 8 MARCH 2016
Chemring Group PLC
Notification of Performance Share Plan Award
On 7 March 2016, a conditional award over ordinary shares of 1
pence each in Chemring Group PLC ("Shares" and the "Company") was
made to a person discharging managerial responsibilities ("PDMR")
as follows.
Name of PDMR No. of Shares under the award
-------------- ------------------------------
Juan Navarro 231,944
-------------- ------------------------------
The award was granted under the Chemring Group Performance Share
Plan 2006.
No consideration was paid for the grant of the award and no
consideration is due on the vesting of the award.
The award will ordinarily vest on the third anniversary of grant
subject to the grantee's continued service and to the extent
performance conditions are satisfied.
The performance conditions applying to the award are based as to
one half of each award on the Company's adjusted earnings per share
growth ("EPS") over four financial years of the Company, starting
with 1 November 2014 ("EPS Performance Period"), and as to the
other half of each award on the Company's total shareholder return
("TSR") performance over the three year performance period starting
with 1 November 2015 ("TSR Performance Period").
No portion of the EPS element shall vest unless the compound
annual growth rate ("CAGR") in EPS over the EPS Performance Period
is at least 5% p.a., for which one quarter of the EPS element may
vest rising on a straight-line basis for full vesting of the EPS
element where the CAGR in EPS over the performance period is 10%
p.a. or greater.
As previously disclosed, in relation to the TSR element, the
performance condition will compare the Company's TSR over the TSR
Performance Period against the TSR performance of a comparator
group of companies.
No portion of the TSR element shall vest unless the Company's
TSR performance over the TSR Performance Period relative to the TSR
performance of the comparator group is at least median performance,
for which one quarter of the TSR element may vest, rising on a
straight-line basis to full vesting of the TSR element for upper
quartile ranking TSR performance or better.
The Company was informed of the above transaction on 7 March
2016.
This notification is being made in accordance with DTR
3.1.4(a).
Enquiries:
Sarah Ellard
Group Legal Director & Company Secretary
Chemring Group PLC
01794 833901
This information is provided by RNS
The company news service from the London Stock Exchange
END
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