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Havelock Europa PLC (HVE)

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Friday 01 May, 2009

Havelock Europa PLC

Director/PDMR Shareholding

RNS Number : 6027R
Havelock Europa PLC
01 May 2009

1 May 2009

Havelock Europa PLC

Disclosure of Directors' interest in shares

The Remuneration Committee has reviewed the anticipated cost to the income statement for 2009 and subsequent years in respect of the awards made in 2007 and 2008 under the Havelock Europa Long Term Incentive Plan 2006.These costs, which are calculated under the requirements of relevant accounting standardsappear disproportionate against the benefits likely to be received by the participants. In view of this, the three Executive Directors have agreed that they will waive their interest in the following conditional awards of shares which were granted in 2007 and 2008 and for which the proportion vesting would be determined in April 2010 and April 2011:

HEO Balfour 267,208 ordinary shares 

R Lowery 214,634 ordinary shares

GM Findlay 181,746 ordinary shares

Contact details:

Grant Findlay                                 01383 820044

Group Finance Director

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