Marshalls PLC Transfer of shares (7479Z)
March 16 2017 - 12:47PM
UK Regulatory
TIDMMSLH
RNS Number : 7479Z
Marshalls PLC
16 March 2017
DTR 3.1.2R: TRANSFERS OF SHARES TO SATISFY AWARDS VESTING UNDER
EMPLOYEE SHARE SCHEME
This announcement is a direct replacement for 7400Z also made on
16 March 2017.
In accordance with DTR 3.1.2R of the Disclosure and Transparency
Rules, Marshalls plc (the "Company") has been advised that the
following transactions relating to the ordinary shares of the
Company have been entered into by the Marshalls plc Employee
Benefit Trust (the "EBT") in connection with the vesting of awards
under the Company's share based incentive schemes:
Transfer of shares to satisfy LTIP awards
666,676 ordinary shares of 25 pence each in the Company have
been transferred to participants by the EBT at the Company's
request to satisfy awards under the Marshalls plc Long Term
Incentive Plan ("LTIP") granted in 2014 that vested and were
exercised on 15 March 2017.
Under the rules of the LTIP (i) no consideration is payable by
participants on exercise of their Nil-Cost Option and CSOP-Linked
Option awards, and (ii) the exercise price set at the date of grant
(180.1 pence per ordinary share) is payable on the exercise of
participants' CSOP Options.
Purchase of shares by EBT
313,317 ordinary shares of 25 pence each in the Company were
purchased by the EBT from participants to enable them to pay the
exercise price where applicable and to settle taxation and other
liabilities arising on the vesting of their LTIP options. These
shares will be held for the purposes of satisfying employee share
awards in future.
The purchase of shares by the EBT was an "off market"
transaction in which the value ascribed to the shares was
determined as 346.9 pence per ordinary share, being the mid-market
closing price of Marshalls' 25 pence ordinary shares on 15 March
2017.
The resulting total number of shares held by the EBT is
1,772,990, representing 0.89 per cent of the issued share capital
of the Company (199,378,755 ordinary shares).
Enquiries: C E Baxandall, Group Company Secretary
Marshalls plc, +44 (0) 1422 314761
This information is provided by RNS
The company news service from the London Stock Exchange
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