Director/PDMR Shareholding

RNS Number : 0518C

Dialight PLC

10 April 2013

 



Dialight plc ("Company")

Director/PDMR Shareholding

10 April 2013

Options and Awards under the Dialight Performance Share Plan ("PSP")

On 9 April 2013 the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted nil cost options that entitled them to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP.

Name	Number of options  granted under the PSP	Total number of shares over which incentive awards in the PSP held following notification	% of issued class
Mark Fryer	18,445	101,200	0.31%

On 9 April 2013 the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted awards that entitled them to acquire ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP.

Name	Number of shares awarded under the PSP	Total number of shares over which incentive awards in the PSP held following notification	% of issued class
Roy Burton	28,210	244,092	0.76%
Daniel Doxsee	8,179	8,179	0.03%
Gareth Eaton	2,592	16,781	0.05%

Options and awards will normally vest on the third anniversary of grant subject to continued employment and the satisfaction of two performance conditions as set out below.

50% of the option or award is measured against the Company's total shareholder return ("TSR") over the three year period relative to the FTSE 250 Index (excluding investment trusts) ("TSR Performance Condition"). The remaining 50% of the option or award is measured against the Company's earnings per share ("EPS") over a three year period ("EPS Performance Condition").

TSR Performance Condition

No part of an option or award subject to the TSR Performance Condition shall vest if the percentage increase in the Company's TSR is below the percentage increase in the TSR of the comparator index. 25% of the ordinary shares subject to the TSR Performance Condition will vest if the percentage increase in the Company's TSR is equal to the percentage increase in the TSR of the comparator index, rising on a straight-line basis, to 100% vesting if the percentage increase in the Company's TSR is equal to the increase in the TSR of the index plus 10% per annum.

EPS Performance Condition

No part of an option or award will vest if the percentage increase in the Company's EPS is below 10% per annum, 25% of the ordinary shares subject to the EPS Option/Award will vest if the percentage increase in the Company's EPS exceeds 10% per annum, rising on a straight-line basis, to 100% vesting if the percentage increase in the Company's EPS exceeds 25% per annum.

No consideration was paid for the grant of these options and awards and no consideration is due to be paid by the participant on the vesting of these options and awards. On vesting options will be exercisable between 9 April 2016 and 9 April 2023.

This notification is made in accordance with DTR 3.1.4R(1).

Nick Giles

Company Secretary, Tel: [phone]

 

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