Exercise of LTIP Awards

RNS Number : 5233B

The Vitec Group PLC

17 April 2012

 

17 April 2012

THE VITEC GROUP PLC

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

The Vitec Group plc ("the Company") announces that, on 17 April 2012, following the vesting of his Long Term Incentive Plan award made on 14 April 2009, the following transaction was undertaken by Marco Pezzana in the ordinary shares of the Company.  The disposal of ordinary shares has been to cover tax liabilities arising on the vesting of this award.

Long Term Incentive Plan

Name	Position	Number of shares acquired for nil consideration	Number of shares disposed (primarily to cover tax liabilities)	Price per share at which shares sold	Resultant holding of the Company's shares following vesting of LTIP
Marco Pezzana	PDMR	12,997	5,657	£6.66	8,989 ordinary shares (1,649)*

* The figure in brackets indicates the number of ordinary shares purchased in the market with funds provided by Mr Pezzana and held by EES Trustees International Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan.

Enquiries:

Jon Bolton

Group Company Secretary

020 8332 4600

A Snapshot of The Vitec Group

Vitec is an international Group principally serving customers in the broadcast, photographic and military, aerospace and government (MAG) markets. Listed on the London Stock Exchange with 2011 revenue of £351.0 million, Vitec is based on strong, well known, premium brands on which its customers worldwide rely. Vitec is organised in three Divisions: Videocom, Imaging & Staging, and Services.

Videocom designs and distributes systems and products used in broadcasting and live entertainment, film and video production and MAG.

Imaging & Staging designs, manufactures and distributes equipment and accessories for photography, video and events.

Services provides equipment rental, workflow design and technical support for camera, video, audio, fibre optic and wireless technology used by TV production teams and film crews.

More information can be found at: www.vitecgroup.com.

 

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