Director/PDMR Shareholding

RNS Number : 2011H
Creston PLC
27 November 2015
 

27 November 2015

 




 

Creston plc

 

 

 

('Creston' or the 'Group')

 

Grant of Awards to Executive Directors under the Long Term Incentive Plan


 

Creston plc (LSE: CRE) announces that, on 27 November 2015, the Group granted the following conditional share awards (the "Awards") to the Executive Directors under the Creston Long Term Incentive Plan 2015 ("LTIP") approved by shareholders at the 2015 Annual General Meeting. The Awards were granted at a share price of 121.75 pence per ordinary share (being the average of the middle market quotations of the Company's shares during a period of 3 dealing days immediately prior to the date of grant) as set out below:

 

Name

Award Type

Number of ordinary shares subject to LTIP Award

Market value of shares at the date of the Award (£)

Barrie Brien      

Core Award

312,114

380,000

Barrie Brien

Stretch Award

312,114

380,000

Kathryn Herrick      

Core Award

94,455

115,000

Kathryn Herrick      

Stretch Award

94,455

115,000

 

After granting the Awards the Executive Directors now hold the following beneficial interests:

 

Name

Number of conditional shares held following Award

Number of ordinary shares currently held

Total shareholding of currently held shares (%)

Barrie Brien      

1,156,118

355,230

0.61%

Kathryn Herrick      

292,196

5,700

0.01%

 

                                                                                                                                          

The conditional shares granted under the Awards will normally vest on 12 June 2018, subject to the satisfaction of the stretching performance conditions applying to the respective Core and Stretch Awards and are then required to be held for a further two years.

 

The performance criteria for which the Core Awards are based on is the performance of the Group's diluted earnings per share over the three year performance period (being the financial years ending 31 March 2017, 2018, and 2019). The performance criteria for which the Stretch Awards are based on is the performance of the Group's relative Total Shareholder Return ("TSR") over the three year performance period (being the financial years ending 31 March 2017, 2018, and 2019).  The Group's TSR must exceed the median ranking of the TSR of a comparator group comprising the constituents of the FTSE SmallCap for the award to begin vesting.  The award will then vest on a straight line basis from 0 per cent to 100 per cent as the Group's TSR ranks from the median TSR up until the upper decile TSR ranking. See the Directors' Remuneration Report within the FY15 Annual Report and Accounts for further detail.

 

No consideration will be paid for the conditional shares upon vesting.

 

For further information please contact:

 

Creston plc


Barrie Brien, Group Chief Executive

+44 (0)20 7930 9757

Kathryn Herrick, Chief Financial Officer




Bell Pottinger

+44 (0)20 3772 2491

Elly Williamson/Lucy Stewart


 

 

About Creston plc

Creston plc (LSE: CRE), incorporating the Creston Unlimited group offer, is a marketing communications group delivering a range of digital technology-based marketing solutions to blue-chip global clients. Encompassing consultants and discipline experts from across the industry and beyond, Creston Unlimited unlocks the power of creative collaboration to realise the opportunities that exist for brands and businesses in today's rapidly evolving world. www.creston.com / www.creston-unlimited.com 

 


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