Director/PDMR Shareholding

RNS Number : 0034J

Unite Group PLC

23 June 2011

 

THE UNITE GROUP PLC (THE "COMPANY")

23 JUNE 2011

DEALINGS BY DIRECTORS

Following the approval by shareholders on 19 May 2011 of the Company's new long term incentive plan, awards under that plan (in the form of nil cost options), were made on 22 June 2011 to Mr Mark Allan (Chief Executive of the Company), in respect of 275,725 ordinary shares of 25p each in the capital of the Company; to Mr John Tonkiss (Chief Operating Officer of the Company), in respect of 168,382 ordinary shares of 25p each in the capital of the Company; and to Mr Joe Lister (Chief Financial Officer of the Company), in respect of 161,366 ordinary shares of 25p each in the capital of the Company (the "2011 LTIP Awards").

The number of shares in respect of which Messrs Allan, Tonkiss and Lister may exercise their 2011 LTIP Awards will be determined following the three year measurement period attaching to those awards, by reference to the net asset value, net portfolio contribution and total shareholder return performance of the Company over that period (as described in the circular to shareholders dated 28 April 2011). Two thirds of such of the options as become exercisable may be exercised on the third anniversary of the date of grant, with the remaining third becoming exercisable on the fourth anniversary of the date of grant.

Not taking account of the options granted pursuant to the 2011 LTIP Awards, Mr Allan remains interested in 966,483 shares in the Company, representing 0.60% of its issued capital; Mr Tonkiss remains interested in 452,553 shares in the Company, representing 0.28% of its issued capital; and Mr Lister remains interested in 474,408 shares in the Company, representing 0.30% of its issued capital. 

Included in the above interests of Messrs Allan, Tonkiss and Lister are shares the subject of awards made to them in April 2009 and April 2010 under the Company's previous long term incentive plan (573,530 shares in the case of Mr Allan; 325,180 shares in the case of Mr Tonkiss and 306,167 shares in the case of Mr Lister). The number of such shares that will unconditionally vest in Messrs Allan, Tonkiss and Lister pursuant to such awards will be determined following the end of the three year measurement periods attaching to those awards by reference to the net asset value and total shareholder return performance of the Company over the relevant period.

END.

 

END

 

 

RDSUOVARANANUAR