Business
Executive Share Option Grants and Directors Dealin
Executive Share Option Grants and Directors Dealin.
About this update from Portmeirion Group Plc
[{"type":"text","content":"\n \nRNS Number : 0329E Portmeirion Group PLC 03 May 2013 \n \n\nPortmeirion Group PLC\n(the 'Company')\n(the 'Group')\nExecutive Share Option Grants and Director's Dealings\nThe Company announces that on 2 May 2013, it granted options to Directors and senior managers over a total of 155,000 ordinary shares of 5 pence each in the Company ('Ordinary Shares') pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the '2012 Plans'). The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans. The options granted on 2 May 2013 are normally only exercisable if the average of the pre-tax, pre-exceptional earnings per share of the Group for each of the three years ending 31 December 2013, 31 December 2014 and 31 December 2015 exceeds 73.81p being 113% of the pre-tax, pre-exceptional earnings per share figure for the year ended 31 December 2012. The following Directors of the Company were granted options as detailed below:\n \n\n\n\n\n\n\n\nNumber of options granted\n\n\nExercise price per Ordinary Share\n\n\nExercise period\n\n\n\n\nPhilip Atherton\n\n\n30,000\n\n\n£6.10\n\n\n3 May 2016 - 1 May 2023\n\n\n\n\nLawrence Bryan\n\n\n45,000\n\n\n£6.10\n\n\n3 May 2016 - 1 May 2023\n\n\n\n\nBrett Phillips\n\n\n30,000\n\n\n£6.10\n\n\n3 May 2016 - 1 May 2023\n\n\n\n\n \nThe total number of Ordinary Shares over which the Director holds options following this notification is:\n \n\n\n\n\n\n\n\nTotal number of options\nover Ordinary Shares\n\n\n\n\nPhilip Atherton\n\n\n30,000\n\n\n\n\nLawrence Bryan\n\n\n94,859\n\n\n\n\nBrett Phillips\n\n\n59,688\n\n\n\n\n \nDirector's Dealings\n \nThe Company also announces that The Portmeirion Employees' Share Trust (the 'Trust') yesterday purchased 4,000 Ordinary Shares at a price of £6.15 to be held in the Trust to satisfy the options granted above when exercised. In addition, the Trust has today purchased 90,000 Ordinary Shares from Lawrence Bryan at a price of £6.10. Lawrence Bryan sold the 90,000 Ordinary Shares for tax planning purposes arising from the exercise of executive options on 9 April 2013. Following the sale, Mr. Bryan holds an interest in 306,523 Ordinary Shares representing 2.88% of ...