TIDMNXR

RNS Number : 7998T

Norcros PLC

22 July 2015

Norcros plc

("Norcros" or "the Company")

Directors' Dealings - APSP Share Option and Deferred Share awards

APSP Share Option Awards

Norcros announces that the Remuneration Committee of the Company has today granted the following HMRC approved and unapproved share option awards in respect of the year ended 31 March 2015 (the "APSP Awards") to the Executive Directors of the Company under the Company's Approved Performance Share Plan (the "APSP") over ordinary shares of one pence each in the Company ("Ordinary Shares").

 
 Name           Number of Ordinary      Option Exercise 
                 Shares subject to           Price 
                 the APSP Award 
-------------  -----------------------  --------------- 
 Nick Kelsall   139,534 (approved)        21.50 pence 
-------------  -----------------------  --------------- 
 Nick Kelsall   1,449,768 (unapproved)        Nil 
-------------  -----------------------  --------------- 
 Martin Payne   139,534 (approved)        21.50 pence 
-------------  -----------------------  --------------- 
 Martin Payne   927,907 (unapproved)          Nil 
-------------  -----------------------  ---------------

Under the APSP, awards are made subject to performance targets relating to improvements in the Company's Earnings Per Share ("EPS"). Vesting of these shares is subject to achieving aggregate diluted EPS over a three year performance period.

The APSP Awards will normally vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets. No consideration was paid for the APSP Awards and the consideration due to be payable on vesting will be the option exercise price (if any) shown above.

Bonus payment - Deferred Share Awards

Under the annual bonus scheme, 50 per cent. of an Executive Director's total bonus for the year is satisfied in cash, with the other 50 per cent. in the form of nil cost options under the Company's Deferred Share Bonus Plan (the "Deferred Plan"). These options represent 50 per cent. of the bonuses earned by the Executive Directors for the 2015 financial year.

Norcros therefore also announces that the Remuneration Committee has today granted the following nil cost share option awards in respect of the year ended 31 March 2015 (the "Deferred Awards") to the Executive Directors of the Company over ordinary shares of one pence each in the Company ("Ordinary Shares").

 
 Name            Number of Ordinary Shares 
                  subject to the Deferred 
                  Plan Award 
--------------  -------------------------- 
 Nick Kelsall    539,348 
--------------  -------------------------- 
 Martin Payne    362,251 
--------------  --------------------------

The Deferred Awards will normally vest on the third anniversary of their grant. Because these shares represent part of a bonus already earned, no consideration was paid for the Deferred Awards and no consideration is due to be payable on vesting.

Further enquiries:

 
 Norcros plc            Tel: 01625 547 700 
 Nick Kelsall, Group 
  Chief Executive 
  Martin Payne, Group 
  Finance Director 
 
 Hudson Sandler         Tel: 0207 796 4133 
 Nick Lyon 
 Charlie Jack 
 Katie Matthews

This information is provided by RNS

The company news service from the London Stock Exchange

END

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