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Wolfson Microelectro (WLF)

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Friday 23 March, 2012

Wolfson Microelectro

Director/PDMR Shareholding

RNS Number : 9696Z
Wolfson Microelectronics PLC
23 March 2012
 



Edinburgh, 23 March 2012

 

Wolfson Microelectronics plc ("the Company")

 

Notification of transactions of directors and other person discharging managerial responsibility ("PDMR")

 

The following transactions were notified to Wolfson Microelectronics plc ("the Company") on 22 March 2012 in relation to the vesting of contingent share awards which were granted in March 2009 as part of the Company's long term incentive share-based plan for the executive directors and other members of the senior management team.  The vesting of these awards was satisfied by ordinary shares of 0.1 pence each in the Company which were held in The Wolfson Microelectronics No. 1 Employees' Share Trust ("the No. 1 Trust").  As explained on page 53 of the Company's Annual Report and Accounts 2011, these contingent share awards vested to the extent of 50% of the original quantity granted due to the relevant performance conditions being partly satisfied.  The number of ordinary 0.1 pence shares in the Company which vested in respect of those contingent share awards held by the executive directors and by one of the other PDMRs was as follows:

 

Name of director / other person discharging managerial responsibility           

Number of ordinary 0.1 pence shares in the Company received from  the vesting of the contingent share award

% of issued share capital

 

JM Hickey

56,522

0.05%

M Cubitt           

38,043

0.03%

S Doran

34,783

0.03%

 

The executive directors and this other PDMR, as noted in the table above, were not required to make any payment for the vested shares.  In order to meet the tax liabilities which arose on the vesting of these awards, some of these shares were sold on 22 March 2012, at 179.6429 pence per share, as summarised in the following table:   

 

Name of director / other person discharging managerial responsibility           

Number of ordinary 0.1 pence shares in the Company sold

 from the vesting of the contingent share award

% of issued share capital

 

JM Hickey

29,496

0.03%

M Cubitt           

19,853

0.02%

S Doran

34,783

0.03%

 

The sale of these shares therefore resulted in the following number of ordinary 0.1 pence shares in the Company being retained from these awards:

 

Name of director / other person discharging managerial responsibility           

Number of ordinary 0.1 pence shares in the Company retained

 

% of issued share capital

 

JM Hickey

27,026

0.02%

M Cubitt           

18,190

0.02%

S Doran

0

0

 

Following these transactions, the total number of ordinary 0.1 pence shares in the Company in which each of the above executive directors and this other PDMR holds a beneficial interest is:

 

Name    of director / other person discharging managerial responsibility

Number of ordinary 0.1 pence shares in the Company

% of issued share capital

 

JM Hickey

  346,132^

0.30%

M Cubitt                       

92,942

0.08%

S Doran                                   

0

0

^ Of these ordinary shares, 288,357 are held by JM Hickey and 57,775 are held by JM Hickey's wife

 

This notification is given in accordance with the DTR3.1.4R (1) (a).

 

Name of duly authorised officer of issuer responsible for making notification:

 

Jill Goldsmith,

Company Secretary

0131 272 7000

 


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