Telecom Plus PLC Director/PDMR Shareholding (6364H)
December 01 2015 - 10:41AM
UK Regulatory
TIDMTEP
RNS Number : 6364H
Telecom Plus PLC
01 December 2015
Telecom Plus PLC (the "Company")
Notifications of Transactions of Directors / Persons Discharging
Managerial Responsibility and Connected Persons
Telecom Plus PLC received notification on 30 November 2015 that
Mr Andrew Lindsay, Chief Executive Officer, exercised rights
granted under the Telecom Plus PLC Joint Share Ownership Plan 2011
(the "JSOP") over 500,000 ordinary shares of 5p each ("Ordinary
Shares") on 30 November 2015.
Under the rules of the JSOP, Mr Lindsay was entitled to receive
any increase in the value of the 500,000 shares over the share
price at the date of grant on 31 March 2011 of GBP4.55, plus an
annual compound growth rate of five per cent which together equated
to GBP5.71 per share on 30 November 2015.
In accordance with the rules of the JSOP, the Company elected to
satisfy the exercise of Mr Lindsay's rights under the JSOP by
instructing the transfer of 247,362 of the 500,000 Ordinary Shares
to Mr Lindsay, representing the value of the gain made on these
rights at the closing market price for Ordinary Shares on 30
November 2015 of GBP11.31.
Mr Lindsay has not sold any Ordinary Shares as a result of the
above transaction but may do so in the next 12 months to cover any
related tax liabilities. Mr Lindsay now has an interest in 382,674
Ordinary Shares, representing approximately 0.48 per cent. of the
total voting rights in the Company.
For further information, please contact:
Telecom Plus PLC
David Baxter
Tel: (020) 8955 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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