Director/PDMR Shareholding

RNS Number : 8408H

UK Coal PLC

10 November 2008

 



UK COAL plc (the 'Company')

Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities ('PDMR') and Connected Persons

To comply with DTR 3.1.4, UK COAL plc advises that on 7 November 2008 the interest of Richard Cole (Company Secretary and member of the Executive Management Committee) changed as a result of the maturity of an award under the Company's Long Term Incentive Plan ('LTIP').

The performance period for this award was the three financial years 2005-2007.

On 7 November 2008, 38,490 ordinary shares of 1 pence each in the Company ('Ordinary Shares') were transferred to Mr Cole, who exercised his right under the LTIP rules to receive, at nil cost, Ordinary Shares awarded in November 2005  under the Company's LTIP. 

Under the terms of the LTIP, because the Group achieved earnings per share growth targets over the performance period and total shareholder return over the performance period was more than 150%, 100% of the Ordinary Shares vested under the award.

In order to discharge income tax and NI liability, Mr Cole sold 15,781 Ordinary Shares on 7 November at a price of 89.21pence per Ordinary Share leaving 22,709 as the retained number of Ordinary Shares. 

As a result of the transaction referred to above, Mr Cole has an interest in 22,709 Ordinary Shares with this representing 0.014% of the total shares in issue.

Contact:

Richard Cole

Company Secretary

01302 751 751

 

END

 

 

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