Business
Director/PDMR Announcement
Director/PDMR Announcement.
About this update from Workspace Group Plc
[{"type":"text","content":"\n \nRNS Number : 7876L Workspace Group PLC 04 August 2011 \n \n\n \n4 August 2011\n \n \nWORKSPACE GROUP PLC\nNOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRs\n \nWorkspace Group PLC ('the Company') announces that on 4 August 2011 awards over the Company's ordinary shares of 10 pence each ('Shares') were granted to the following Executive Directors and Persons Discharging Managerial Responsibility (PDMRs) of the Company. Awards were granted under the Company's Long Term Equity Incentive Plan (the 'Plan') that was approved by the Company's shareholders on 23 April 2008.\n \n1. Performance Share Awards\n \n \nPerformance Share Awards were granted for nil consideration to the following Executive Directors and PDMRs:\n \n \n\n\n\n\nDirector/PDMR\n\n\nNumber of Shares subject to the Performance Share Award\n\n\n\n\nHarry Platt, Chief Executive\n\n\n1,124,550\n\n\n\n\nGraham Clemett Finance Director\n\n\n738,820\n\n\n\n\nAngus Boag, Development Director\n\n\n724,880\n\n\n\n\nChris Pieroni, Operations Director\n\n\n724,880\n\n\n\n\n \nThe Performance Share Awards were granted for nil consideration and were based on a share price of 27 pence per Share, being the average middle market closing price of such Shares over the three dealing days on 29 July, 1 and 2 August 2011.\n \nThe vesting of Performance Share Awards is conditional on continued employment, (subject to good leaver exceptions) and the satisfaction of performance conditions over a three year performance period.\n \n2. Invested Share Awards and Matching Share Awards\n \n \nThe following individuals were invited to invest up to 45% of their net annual salary (excluding bonuses and benefits in kind) ('the Invested Amount') to acquire shares in the Company ('the Invested Shares'). An additional award over free shares was then granted to these individuals ('the Matching Share Award'). The number of shares comprised in a Matching Share Award is calculated as the number of shares as may be purchased in the market on the date of grant of the Matching Share Award using a sum calculated by reference to the Invested Amount. The sum is calculated by grossing up the Invested Amount (to take account of tax and national insurance borne by the participant) ...