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Topps Tiles (TPT)

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Thursday 09 June, 2011

Topps Tiles

Share Award and Issue of Equity

RNS Number : 1775I
Topps Tiles PLC
09 June 2011
 

Topps Tiles Plc

("Topps" or the "Company")

Deferred Bonus Long Term Incentive Plan (the "Plan") Award

The Company announces that on the 8th June 2011 it issued 121,959 ordinary shares of 3.33 pence each ("Ordinary Shares") under the Plan to Executive Directors of the Company, other persons discharging managerial responsibilities ("PDMRs") and employees as part of their bonus for the year ended September 2010.

Details of the number of shares awarded are set out below:-

                                                                                No. of ordinary shares subject  

                                                                                to award under the Plan              

Executive Directors

Matthew Williams                                          31,276                                                  

Nick Ounstead                                                  16,393                                                  

Rob Parker                                                          17,872                                                  

PDMR's

Stuart Comer                                                     9,146                                                   

Nigel Hickman                                                  7,532                                                   

Daniel Little                                                       8,907                                                    

Jeremy Harris                                                    11,312                                                  

Awards granted under the Plan will vest in September 2012 pursuant to the Plan and the numbers of shares awarded have been calculated by reference to the average share price for the financial year ending September 2010 of 69.0p.

The Plan also provides for the issue of an equal award of matching shares in September 2012 which is conditional upon the achievement of performance criteria and continuing employment.

Application has been made today to the UK Listing Authority and to the London Stock Exchange for the new Ordinary Shares, to be admitted to the Official List maintained by the UK Listing Authority, and to be admitted to trading by the London Stock Exchange on its market for listed securities. It is expected that admission of the Ordinary Shares will become effective on or around 14 June 2011.

Immediately following admission the total issued share capital of the Company will be 188,365,802 Ordinary shares, each with equal voting rights.

Enquiries:

Topps Tiles 0161 486 2400

Matthew Williams, Chief Executive Officer

Rob Parker, Finance Director

Pelham Bell Pottinger 020 7861 3232

Emma Kent / Rosanne Perry / Duncan Mayall

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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