Information  X 
Enter a valid email address

Moneysupermarket.com (MONY)

  Print      Mail a friend

Wednesday 25 February, 2009

Moneysupermarket.com

Director/PDMR Shareholding

RNS Number : 8302N
Moneysupermarket.com Group PLC
25 February 2009
 



25 February 2009


Moneysupermarket.com Group PLC ('Company')


In line with the intentions outlined in the prospectus issued in connection with the listing of the Company on 31 July 2007Simon Nixon has on 25 February 2009 made available additional incentive arrangements for the benefit of those individuals listed below. These incentive arrangements will be satisfied by Simon Nixon by the transfer by him to the individuals of ordinary shares of 0.02 pence each in the share capital of the Company ('Shares') at nil cost. 


In the case of Paul Doughty and Stuart Glendinning, one tranche of the Shares will vest on 31 July 2009 subject to their continued employment with the Company during this period. The remaining Shares will vest in two instalments based on satisfaction of Company related performance targets and individual related performance targets in the financial year 2008 and the first six month period of 2009, subject to continued employment with the Company. 


In the case of Sean Thweny, the Shares will vest on 31 July 2009.


The numbers of Shares referred to below are the maximum available if all of the incentive arrangements vest in full.


Name 

Shares subject to the incentive arrangements

Paul Doughty

1,413,199 (0.28% of the Company's issued share capital)

Stuart Glendinning

1,275,128 (0.25% of the Company's issued share capital)

Sean Thweny

690,356 (0.14% of the Company's issued share capital)


Assuming that all of the incentive arrangements vest in full, and assuming a share price of 48.25 pence at the date of grant of the incentive arrangements, the Company will incur share based payment charges totaling £1.3m during the period to 31 December 2009.  The Company will also be liable to pay £0.8m of PAYE and National Insurance charges which will arise upon the vesting of the options, and receive a benefit from the Schedule 23 deductions from the Company's corporation tax liability for an equal and opposite amount based upon the currently proposed settlement mechanism.  The overall impact on the Company's distributable reserves and cash will be nil. 


This announcement is made in accordance with Disclosure Rule 3.1.4R(1).


Darren Drabble

Company Secretary



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSBRGDDDSDGGCS