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IMI PLC (IMI)

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Monday 10 May, 2010

IMI PLC

Director/PDMR Shareholding

RNS Number : 6470L
IMI PLC
10 May 2010
 

10 May 2010

 

IMI plc (the "Company")

Director/ PDMR Shareholding

This information is disclosed under DTR 3.1.4R(1)

GRANT OF AWARDS UNDER THE 2005 LONG TERM INCENTIVE PLAN, KNOWN AS THE PERFORMANCE SHARE PLAN ("PSP")

On 7 May 2010 the Company granted to each of the following Persons Discharging Managerial Responsibility awards over the number of ordinary shares of £0.25 each in the Company shown against his name below in accordance with the rules of the PSP.

Name

Position

 

Number of shares

Martin Lamb

Chief Executive

 

96,600

Douglas Hurt

Finance Director

 

53,000

Roy Twite

Executive Director

 

50,100

No consideration was paid for the grant of the awards.  Under normal circumstances, the awards will vest on 22 March 2013, subject to the applicable performance conditions being met and may be settled in shares, cash or an employer contribution into a pension plan or employee benefit trust in accordance with the rules of the PSP.  

GRANT OF MATCHING AWARDS UNDER THE SHARE MATCHING PLAN ("SMP")

On 7 May 2010 the Company granted to each of the following Persons Discharging Managerial Responsibility matching awards over the number of ordinary shares of £0.25 each in the Company shown against his name below in accordance with the rules of the SMP.

Name

Position

 

Number of shares

Martin Lamb

Chief Executive

 

330,090

Douglas Hurt

Finance Director

 

160,246

Roy Twite

Executive Director

 

131,602

Ian Whiting

President, CCI

 

63,729

Sean Toomes

President, Indoor Climate

 

34,487

Tim Hubbard

President, IMI Cornelius Group

 

18,287

Marshall Goldberg

President, IMI Merchandising

 

12,246

Under the SMP, matching awards are granted based on the investment made by each participant. No consideration was paid for the grant of the matching awards. The matching awards were made in the following forms:

Messrs. Lamb, Hurt and Twite were granted awards which may be settled in shares, cash or an employer contribution into a pension plan or employee benefit trust in accordance with the rules of the SMP; 

Messrs. Whiting, Hubbard and Goldberg were granted conditional awards of free shares; and

Mr. Toomes was granted a nil-cost option. 

Under normal circumstances, all matching awards will vest on 22 March 2013, subject to the applicable performance conditions being met.  Mr. Toomes' option will lapse, to the extent it vests and is not exercised, ten years after the date it was granted.

 

Enquiries to:

 

Helen Afford               Corporate Counsel               Tel:      0121 717 3700

 

 

 

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