Business
Awards under The Alumasc Long
Awards under The Alumasc Long.
About this update from Alumasc Group Plc
[{"type":"text","content":"\n RNS Number : 1437S Alumasc Group PLC 03 September 2010 \n \n\nThe Alumasc Group plc - Director/PDMR Shareholding\n \nAwards under The Alumasc Group plc Long Term Incentive Plan (2008 Plan) (\"LTIP\")\n \n \nThe Alumasc Group plc (\"the Company\") announces that on 22 October 2009 the under mentioned Directors/PDMRs were granted conditional awards under The Alumasc Group plc Long Term Incentive Plan (2008 Plan) that entitled them to acquire ordinary shares of 12.5 pence each in the Company in accordance with the rules of the Plan.\n \n\n\n\n\nName\n\n\nNumber of Shares Awarded under the LTIP (2008 plan)\n\n\nTotal Number of Share Awards held under the LTIP (2008 plan)\n\n\nPercentage of Current Issued Share Capital\n\n\n\n\nPaul Hooper\n \n\n\n \n152,426\n\n\n \n374,098\n\n\n \n1.035%\n\n\n\n\nAndrew Magson\n \n\n\n \n62,737\n\n\n \n157,795\n\n\n \n0.437%\n\n\n\n\n \nThe above LTIP awards are granted at a nil exercise price and have the following performance conditions:\n \nEach award is dependent partially on an EPS performance condition and partially on total shareholder return (\"TSR\") meaning a measure of the growth in value of the ordinary shares of the Company over the performance period, assuming that all dividends are reinvested to purchase additional shares. The relative weighting to be attributed to EPS and TSR in a particular award is decided upon by the Remuneration Committee.\n \nNo part of any award will vest unless the average annual growth of EPS equals or exceeds RPI plus 2.5% measured over a fixed 3 year period following the making of the award.\n \nOn the attainment of this 2.5% average annual growth threshold, 25% of the whole award will vest.\n \nThe whole of the remaining part of an award dependent on EPS will vest if the average annual growth in EPS equals or exceeds RPI plus 10%.\n \nThe vesting of the remainder of any part of an award dependent on TSR will depend on the percentage movement of the Company's share price at least equalling the median performance of the FTSE All Share Index, up to 100% vesting if the percentage movement is equivalent to upper quartile performance.\n \nIn between the higher and the lower targets for both EPS and TSR, the awards vest on a straight line basis.\n \n...