TT Electronics plc - Long Term Incentive Plan

RNS Number : 7797C

TT electronics PLC

19 April 2013

 



19 April 2013

TT electronics plc

Long Term Incentive Plan

TT electronics plc ("the Company") announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") was made on 17 April 2013 to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:

Executive Director/PDMR                                                      Maximum Number
                                                                                                      of Shares

Geraint Anderson	242,528
Shatish Dasani	166,079
Tim Roberts	140,000
Patrick Murray	80,000
John Molloy	80,000
Per-Olof Ahlstrom	30,000
John Leighton-Jones	30,000
Lynton Boardman	30,000

No consideration is payable for the award.

The award will vest in three years from the date of grant, subject to achievement of the performance conditions.  Two separate performance targets apply:

The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets.  25 per cent of the shares subject to this part of the award will vest for EPS growth of 10 per cent compound per annum in excess of the Retail Price Index ("RPI"), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 15 per cent compound per annum in excess of RPI.

The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts).  25 per cent of the shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.

For further information please contact:

TT electronics plc

Geraint Anderson, Group Chief Executive:                              Tel:  [phone]

Hudson Sandler

Andrew Hayes / Wendy Baker:                                                 Tel:  [phone]

 

END

 

 

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