Director/PDMR Shareholding

RNS Number : 8468S

Spirent Communications PLC

05 December 2012

 



SPIRENT COMMUNICATIONS PLC

DIRECTORS / PDMR SHAREHOLDINGS

London, UK - 5 December 2012: Spirent Communications plc ("the Company") (LSE: SPT), a leading communications technology company, would like to notify the market in accordance with the Financial Services Authority's ("FSA") Disclosure and Transparency Rules of the following changes in the interests of a Director / Person Discharging Managerial Responsibility:

William Burns:

(i)      On 30 November 2012 William Burns, Chief Executive Officer, acquired 129,260 Ordinary shares through the partial vesting of an award of nil-cost Performance Shares granted under the Employee Incentive Plan on 30 November 2009.

The Company was notified today that Mr Burns disposed of 129,260 of those Ordinary shares at a price of £1.489163 per share.

(ii)      On 3 December 2012, Mr Burns exercised 170,625 Stock Appreciation Rights ("SARs") granted at a base price of £0.4750 on 5 May 2006 under the Spirent Stock Incentive Plan and due to expire on 5 May 2013.  At a Fair Market Value of £1.5060, this resulted in a gain due to Mr Burns of £175,914.38 which the Company has funded through the sale of Ordinary shares.

After these transactions, Mr Burns has a beneficial interest in the Company of 218,519 Ordinary shares (0.034% of the Company's issued Ordinary Share capital at the date of this announcement) and holds 917,146 share incentive awards, 374,000 of which have vested and are available to exercise.

Eric Hutchinson:

On 30 November 2012 Eric Hutchinson, Chief Financial Officer, acquired 51,926 Ordinary shares through the partial vesting of an award of nil-cost Performance Shares granted under the Employee Incentive Plan on 30 November 2009.

The Company was notified today that Mr Hutchinson disposed of 51,926 of those Ordinary shares at a price of £1.489163 per share.

After these transactions, Mr Hutchinson has a beneficial interest in the Company of 1,300,213 Ordinary shares (0.200% of the Company's issued Ordinary Share capital at the date of this announcement) and holds 308,201 share incentive awards, 56,600 of which have vested and are available to exercise.

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Enquiries

Rachel Whiting                          Spirent Communications plc                   [phone]

Company Secretary

About Spirent Communications plc

Spirent Communications plc is a global leader in test and measurement inspiring innovation within development labs, communication networks and IT organisations.  We enable today's communication ecosystem as well as tomorrow's emerging enterprises to deploy life-enriching communications networks, devices, services and applications.  Further information about Spirent Communications plc can be found at www.spirent.com.

Spirent Communications plc Ordinary Shares are traded on the London Stock Exchange (ticker: SPT).  The Company operates a Level 1 American Depositary Receipt ("ADR") programme with each ADR representing four Spirent Communications plc Ordinary Shares.  The ADRs trade in the US over-the-counter ("OTC") market under the symbol SPMYY and the CUSIP number is 84856M209.  Spirent ADRs are quoted on the Pink OTC Markets electronic quotation service which can be found at www.pinksheets.com.

Spirent and the Spirent logo are trademarks or registered trademarks of Spirent Communications plc.  All other trademarks or registered trademarks mentioned herein are held by their respective companies.  All rights reserved.

This document may contain forward-looking statements which are made in good faith and are based on current expectations or beliefs, as well as assumptions about future events.  You can sometimes, but not always, identify these statements by the use of a date in the future or such words as "will", "anticipate", "estimate", "expect", "project", "intend", "plan", "should", "may", "assume" and other similar words.  By their nature, forward-looking statements are inherently predictive and speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.  You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to factors that could cause our actual results to differ materially from those expressed or implied by these statements.  The Company undertakes no obligation to update any forward-looking statements contained in this document, whether as a result of new information, future events or otherwise.

 

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