Business
The Rank Group Long-Term Incentive Plan 2005
The Rank Group Long-Term Incentive Plan 2005.
About this update from Rank Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0104C Rank Group PLC 28 February 2011 \n\nThe Rank Group Plc\n \n- The Rank Group Long-Term Incentive Plan 2005\n \n \nThe Rank Group Plc (\"Rank\") announces that on 25 February 2011, a total of 1,200,379 ordinary shares of 138/9pence each (\"Shares\") vested in favour of Persons Discharging Managerial Responsibilities (\"PDMR\") under the terms of The Rank Group Long-Term Incentive Plan 2005 (\"2005 LTIP\"). The vesting, details of which are provided below, related to the performance awards granted to the relevant individuals under the 2005 LTIP on 10 September 2008.\n \n\n\n\n\nName\n\n\nRole\n\n\nNumber of ordinary\n138/9p shares originally awarded\n\n\nNumber of ordinary\n138/9p shares that vested on 25 February 2011\n\n\n\n\nDirectors:\n\n\n\n\n\n\n\n\n\n\n\n\n\nIan Burke\n\n\nChief Executive\n\n\n667,047\n\n\n667,047\n\n\n\n\nPaddy Gallagher\n\n\nFinance Director\n\n\n380,952\n\n\n380,952\n\n\n\n\nPDMR:\n\n\n\n\n\n\n\n\n\n\n\n\n\nFrances Bingham\n\n\nCompany Secretary\n\n\n152,380\n\n\n152,380\n\n\n\n\n \nIn accordance with the rules of the 2005 LTIP, all of the above shares have been transferred to the relevant individuals by the trustee of Rank's Employment Benefit Trust.\n \nFollowing this transfer, a total of 612,194 Shares were sold at an average price of 132.3422 pence per Share on behalf of the PDMRs on 25 February 2011. Details of these sales, and the resulting effect on the PDMRs' shareholdings, are set out below:\n \n\n\n\n\nName\n\n\nRole\n\n\nPrevious shareh-olding\n\n\nShares received\n\n\nShares sold\n\n\nNew shareh-olding\n\n\n\n\nDirectors:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIan Burke\n\n\nChief Executive\n\n\n260,553\n\n\n667,047\n\n\n340,194\n\n\n587,406\n\n\n\n\nPaddy Gallagher\n\n\nFinance Director\n\n\n160,000\n\n\n380,952\n\n\n194,286\n\n\n346,666\n\n\n\n\nPDMR:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFrances Bingham\n\n\nCompany Secretary\n\n\n-\n\n\n152,380\n\n\n77,714\n\n\n74,666\n\n\n\n\n \nIt should be noted that, on 15 May 2007, the Company also granted performance awards to its PDMRs. The vesting of these Awards was conditional on the satisfaction of certain performance criteria by Rank over a period of four consecutive financial years. Whilst on the basis of the adjusted earnings per sha...