Director/PDMR Shareholding
May 05 2010 - 4:51AM
UK Regulatory
TIDMDLTA
RNS Number : 3661L
Delta PLC
05 May 2010
DELTA PLC
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
("PDMRs")
Delta plc announces the following transactions by PDMRs in the Company's
ordinary shares of 25p each ("Shares").
On 5 May 2010, awards (structured as nil cost options) that vested on 28 April
2010 when the offer by Valmont Industries Pty Ltd ("Valmont") became
unconditional in all respects were exercised by PDMRs under the terms of, and
pursuant to, the rules of the Delta Performance Share Plan ("PSP").
The Remuneration Committee has determined that following exercise and in lieu of
the issue or transfer of Shares to satisfy the awards, it would make cash
payments, determined using a value of 185p per Share, being the offer price from
Valmont.
PDMRNo. of SharesCash Settlement
D Wong 78,156 GBP144,588.6
P McNicholl 237,057 GBP438,555.45
P B Snell 44,114 GBP81,610.90
S Robertson 59898 GBP110,811.30
The vesting of the PSP awards was subject to the satisfaction of a performance
condition based upon the Company's total shareholder return relative to the
total shareholder return of the constituents of the FTSE SmallCap Index
(excluding investment trusts), which was satisfied in full.
Under the rules of the PSP, Messrs Wong, McNicholl, Snell and Robertson were
also paid dividend equivalents of GBP12,260.47, GBP41,118.48, GBP7,056.01 and
GBP9,934.72 respectively (structured as cash-based dividend equivalents) which
are cash amounts equivalent to the dividends that were paid in respect of the
Shares comprised in the PSP awards over the vesting period.
The notification of these transactions is intended to satisfy the Company's
obligations under Disclosure and Transparency Rule 3.1.4.
-End-
This information is provided by RNS
The company news service from the London Stock Exchange
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