CRE Conduit Holdings Limited

TIDMCRE

RNS Number : 3788L

Creston PLC

29 July 2011

 
 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO 
  THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN 
 
 29 July 2010 
 
  FOR IMMEDIATE RELEASE 
 Creston plc 
 Grant of Awards to Executive Directors under the Long Term 
  Incentive Plan (LTIP) 
 
 

Creston plc ("Creston" or "the Company") announces that on the 11 July 2011 the Company granted the following conditional share awards to the Executive Directors under the Creston plc Long Term Incentive Plan ("LTIP").

In accordance with the rules of the LTIP, awards were granted on 11 July 2011 at a share price of 108 pence per ordinary share (being the closing price on the preceding dealing day) as set out below:

 
               Number of     Market 
               Ordinary     value of     Number of    Number of 
                Shares     Shares at    Conditional   ordinary 
                subject     the date    shares held    shares        Total 
                to LTIP      of the      following    currently   Shareholding 
    Name         Award       Award         Award        held          (%) 
------------  ----------  -----------  ------------  ----------  ------------- 
 Don Elgie      370,370     400,000      1,206,307    2,116,113       3.45 
------------  ----------  -----------  ------------  ----------  ------------- 
 Barrie 
  Brien         181,481     196,000       592,542      289,889        0.47 
------------  ----------  -----------  ------------  ----------  ------------- 
 

The conditional shares subject to the Awards granted will vest in three years, contingent on the individual's continued employment and stretching performance criteria which are based on the performance of the Group's Diluted Earnings Per Share (DEPS), over the three year performance period, compared to UK Gross Domestic Product (GDP).

No consideration will be paid for the contingent shares upon their vesting and the issue of all or a portion of the Awards will be subject to the related performance criteria.

END

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END

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