Director's Interests
RIT Capital Partners PLC
13 January 2006
Director's Interests
Following advice received in respect of personal pension arrangements ahead of
pensions tax reforms due to be implemented from 6 April 2006, Lord Rothschild
and Duncan Budge, directors of RIT Capital Partners plc ('RITCP') have today
exercised Share Appreciation Rights ('SARs') over notional £1 ordinary shares of
RITCP at 934p per share. Such exercises are in accordance with the terms of the
J. Rothschild Capital Management Share Appreciation Rights Plan, and are in
respect of the following SAR grants:
Director Notional no. Dates of grant SAR price SAR Exercise period
of RITCP ord
shares
Lord Rothschild 587,371 30 March 1999 340.5p 30 Mar 02 - 29 Mar 09
Lord Rothschild 228,833 22 March 2000 437.0p 22 Mar 03 - 21 Mar 10
Duncan Budge 287,371 30 March 1999 340.5p 30 Mar 02 - 29 Mar 09
Duncan Budge 228,833 22 March 2000 437.0p 22 Mar 03 - 21 Mar 10
SAR grants entitle the holder to the payment of a cash bonus between the third
and tenth anniversaries of the relevant date of grant, calculated by reference
to a notional number of RITCP £1 ordinary shares. The bonus equates to the
increase since the date of grant in the RITCP share price multiplied by the
notional number of shares, net of income tax and National Insurance. RITCP's
liability for these SAR exercise payments has been fully recognised in its net
asset valuation announcements.
Following the above SAR exercises, the outstanding SARs held by Lord Rothschild
and Duncan Budge are as follows:
Director Notional no. SAR price Dates exercisable
of RITCP ord.
shares
Lord Rothschild 262,467 381.0p 26 Mar 06 - 25 Mar 13
Lord Rothschild 152,672 786.0p 19 Jul 08 - 18 Jul 15
Duncan Budge 262,467 381.0p 26 Mar 06 - 25 Mar 13
Duncan Budge 101,781 786.0p 19 Jul 08 - 18 Jul 15
Lord Rothschild's direct interests in the ordinary shares of RITCP remain as
follows:
20,108,741 shares (12.88% of issued) held beneficially; and
6,708,324 shares (4.30% of issued) held non-beneficially.
Duncan Budge's direct interests in the ordinary shares of RITCP remain as
follows:
45,139 shares (0.03% of issued) held beneficially; and
5,000 shares (0.003% of issued) held non-beneficially.
13 January 2006
This information is provided by RNS
The company news service from the London Stock Exchange
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