Director/PDMR Shareholding

RNS Number : 3666Q

Morgan Sindall PLC

08 April 2009

 



Morgan Sindall plc

 ('the Company')

Notification of Transactions by Directors

Executive Remuneration Plan 2005 (the 'Plan')

On 5 April 2006 the Company granted awards under the Plan to its executive directors in respect of ordinary shares of 5p each in the Company ('shares'). These awards took the form of performance shares or, at the election of each individual, options to subscribe for shares. Following satisfaction in full of the performance conditions to which the awards were subject, the Company announces that the performance shares have vested in full and the share options have become exercisable in full.

The Company therefore announces, in accordance with the Company's obligations under paragraph 3.1.4 R (1) of the Disclosure and Transparency Rules, the numbers of shares which were transferred to the individuals below on 7 April 2009. 

These shares comprised those performance shares conditionally awarded to the individuals on 5 April 2006 and additional shares representing the dividend equivalent to which the individuals are entitled under the Plan

These shares were satisfied from market purchased shares held in the Morgan Sindall Employee Benefit Trust.

In addition, certain of the directors named below have disposed of a proportion of the shares vesting in order to fund the tax and national insurance contribution payable in respect of them.

Name of Director	Number of performance shares awarded	Number of dividend equivalent shares	Total number of shares vested	Number of shares disposed
Paul Smith	11,914	1,971	13,885	5,639
David Mulligan	4,766	788	5,554	Nil
Paul Whitmore	13,106	2,169	15,275	6,204

The market value of a share on 7 April 2009 was 585.25p and the shares disposed were sold to the Morgan Sindall Employee Benefit Trust at that price.

Following these transactions, the interests (all of which are beneficial) of the directors in the share capital of the Company are as follows:

Name of Director	Beneficial interest in shares	% issued share capital of the Company	Total number of shares over which options are held	Total number of conditional share awards held
Paul Smith *	213,749	0.50%	373,706	64,263
David Mulligan	22,508	0.05%	206,248	35,608
Paul Whitmore	60,328	0.14%	0	67,149

*    Please note that Paul Smith's shareholding is based on an opening balance of 205,503 shares, as opposed to the total of 171,622 which was incorrectly stated in the Company's 2008 Report and Accounts and in the Notification of Transactions by Directors released on 31 March 2009.

Enquiries:

Mary Nettleship                            Tel: [phone]

Company Secretary

8 April 2009

 

END

 

 

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