Director/PDMR Shareholding

RNS Number : 6364H

Telecom Plus PLC

01 December 2015

 

Telecom Plus PLC (the "Company")

Notifications of Transactions of Directors / Persons Discharging Managerial Responsibility and Connected Persons

Telecom Plus PLC received notification on 30 November 2015 that Mr Andrew Lindsay, Chief Executive Officer, exercised rights granted under the Telecom Plus PLC Joint Share Ownership Plan 2011 (the "JSOP") over 500,000 ordinary shares of 5p each ("Ordinary Shares") on 30 November 2015.

Under the rules of the JSOP, Mr Lindsay was entitled to receive any increase in the value of the 500,000 shares over the share price at the date of grant on 31 March 2011 of £4.55, plus an annual compound growth rate of five per cent which together equated to £5.71 per share on 30 November 2015. 

In accordance with the rules of the JSOP, the Company elected to satisfy the exercise of Mr Lindsay's rights under the JSOP by instructing the transfer of 247,362 of the 500,000 Ordinary Shares to Mr Lindsay, representing the value of the gain made on these rights at the closing market price for Ordinary Shares on 30 November 2015 of £11.31.

Mr Lindsay has not sold any Ordinary Shares as a result of the above transaction but may do so in the next 12 months to cover any related tax liabilities.  Mr Lindsay now has an interest in 382,674 Ordinary Shares, representing approximately 0.48 per cent. of the total voting rights in the Company. 

For further information, please contact:

Telecom Plus PLC

David Baxter

Tel: [phone]

 

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