Exova Group PLC Notification of transactions of Directors & PDMRs (3600E)
03 November 2015 - 12:14PM
UK Regulatory
TIDMEXO
RNS Number : 3600E
Exova Group PLC
03 November 2015
EXOVA GROUP PLC
Notification of transactions of Directors and PDMRs
On 2 November 2015, a bonus share award to acquire ordinary
shares of 1 pence each ("Shares") in Exova Group plc (the
"Company") was granted to Paul Barry, a person discharging
managerial responsibilities ("PDMR"), under the Exova Group plc
Deferred Bonus Plan (the "DBP").
Under the DBP, Paul Barry will receive a bonus share award equal
to GBP175,000 in respect of 2015 in order to buy-out incentives
from his previous employer which were forfeited on joining the
Exova Group (the "DBP Award"). The DBP Award is subject to the DBP
rules and vested as to 50% on his appointment. The other 50% of the
DBP Award will vest, subject only to his continued employment with
the Exova Group, on the first anniversary of his employment with
the Exova Group. In accordance with the offer of employment made to
Paul Barry, the DBP Award was made based on the closing price of
the Company's shares on 30 October 2015 (being the working day
before Paul Barry commenced his employment with the Exova Group) as
derived from the London Stock Exchange website (being GBP1.4875 per
share). He therefore received a DBP Award in respect of 117,647
shares. No performance target applies in respect of the DBP Award.
A total amount of GBP1 is payable on each exercise of the DBP
Award.
No consideration was paid for the grant of the above award.
Following notification, Paul Barry has a total interest under
all share plans in respect of 117,647 shares.
This notification is made in accordance with DTR 3.1.4.
For and on behalf of Exova Group plc
Date: 3 November 2015
Neil MacLennan
General Counsel & Company Secretary Telephone: 0131 333
8053
This information is provided by RNS
The company news service from the London Stock Exchange
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