RMG Royal Mail Plc

TIDMRMG

RNS Number : 4663E

Royal Mail PLC

09 April 2014

9 April 2014

Royal Mail plc

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

In accordance with Rule 3.1.2R of the Disclosure and Transparency Rules, Royal Mail plc (the Company) was notified today of certain transactions by Directors/Persons Discharging Managerial Responsibilities in shares of the Company. In compliance with Rule 3.1.4R of the Disclosure and Transparency Rules, the Company notifies the market of details of the following transactions:

 
Name of Director or PDMR   Number of Ordinary Shares 
Executive Directors 
Moya Greene                116 
Mark Higson                116 
Matthew Lester             116 
 
PDMRs 
Stephen Agar               116 
Catherine Doran            116 
Derek Foster               116 
Neil Harnby                116 
Nicholas Landon            116 
Jon Millidge               116 
Michael Newnham            116 
Shane O'Riordain           116 
Emily Pang                 116 
Gary Simpson               116 
Stuart Simpson             116 
Susan Whalley              116 
 

These transactions took place on 9 April 2014 in London.

As Eligible Employees, each of the Executive Directors and PDMRs listed above has been awarded 116 free Ordinary Shares as part of the Employee Free Shares Offer. The Employee Free Shares Offer was put in place upon the listing of Royal Mail plc by the Secretary of State for Business Innovation and Skills as part of the employee share scheme it was required to establish under section 3 of the Postal Services Act 2011. The Executive Directors and PDMRs have been awarded the same number of free Ordinary Shares as each other full-time Eligible Employee who did not opt out of the Employee Free Shares Offer. These Ordinary Shares were awarded at nil cost and will be held in trust by the trustee of the Royal Mail Share Incentive Plan (the "Plan"). The Plan has been approved by HMRC under Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003.

Under HMRC rules at the time of allocation on 15 October 2013, the maximum amount of free Ordinary shares that could be given to an individual employee in any tax year was GBP3,000. The initial market value of the free Ordinary shares that eligible full-time employees were entitled to exceeded this limit. Therefore, Eligible Employees are receiving the free Ordinary shares they are entitled to in two allocations. This second award is being made in the new tax year to any Eligible Employee who did not opt out of the Employee Free Shares Offer. This is in accordance with the Plan rules and Clause 6.2 of Part VIII of the Securities Note to the Prospectus.

The Non-Executive Directors, while eligible to receive Employee Free Shares as part of the Employee Free Shares Offer, decided it would be inappropriate, as independent non-executive directors, to receive Employee Free Shares and so opted out of receiving Employee Free Shares.

Enquiries

 
Royal Mail plc 
 
 Mish Tullar 
 Phone: 07423 524154 
 Email: mish.tullar@royalmail.com 
 Beth Longcroft 
 Phone: 020 7449 8241 
 Email: beth.longcroft@royalmail.com 
 Royal Mail press office out of hours: 0203 338 1007 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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