2016 LTIP Awards and Directors' Dealings

RNS Number : 6047R

Tyman PLC

09 March 2016

 

TYMAN PLC

("Tyman" or the "Group" or the "Company")

2016 LTIP Awards and Directors' Dealings

Tyman plc, a leading international supplier of components to the door and window industry, announces that on 9 March 2016 ("Award Date") the Remuneration Committee of the Company (the "Committee") granted share awards (the "2016 Awards") under the Tyman Long Term Incentive Plan (the "LTIP"), in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares").

2016 Awards have been granted to the two Executive Directors and a further 25 senior managers and executives of the Company over a total of 769,901 Ordinary Shares.

Awards were made to the following Executive Directors:

Name	Number of Shares
Louis Eperjesi	151,442
James Brotherton	93,459

Vesting of 2016 Awards

Vesting of 2016 Awards is based on the Company's three year cumulative underlying earnings per share ("EPS") for the financial years 2016 to 2018, and is subject to the satisfaction of specific performance criteria and other conditions.

Five year holding period

All 2016 Awards granted shall be subject to a Compulsory Holding Period of five years from the Award Date.

Timetable and Awards Outstanding

2016 Awards are expected to vest in March 2019, following the announcement of the Company's results for the year ended 31 December 2018 and the holding requirement is expected to lapse on 9 March 2021.

In aggregate, as at today's date, a total of 2,835,562 awards are outstanding over the Company's Ordinary Shares under the LTIP.

9 March 2016

Enquiries:
Tyman plc	020 7976 8000
Kevin O'Connell - Company Secretary	www.tymanplc.com

 

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