19 April 2013
TT electronics plc
Long Term Incentive Plan
TT electronics plc ("the Company") announces that a conditional award of ordinary shares of 25p each in the Company ("Shares") was made on 17 April 2013 to the following Executive Directors and Persons Discharging Managerial Responsibility of the Company:
Executive Director/PDMR Maximum Number
of Shares
Geraint Anderson |
242,528 |
Shatish Dasani |
166,079 |
Tim Roberts |
140,000 |
Patrick Murray |
80,000 |
John Molloy |
80,000 |
Per-Olof Ahlstrom |
30,000 |
John Leighton-Jones |
30,000 |
Lynton Boardman |
30,000 |
No consideration is payable for the award.
The award will vest in three years from the date of grant, subject to achievement of the performance conditions. Two separate performance targets apply:
The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets. 25 per cent of the shares subject to this part of the award will vest for EPS growth of 10 per cent compound per annum in excess of the Retail Price Index ("RPI"), increasing on a straight-line basis to 100 per cent vesting for EPS growth of at least 15 per cent compound per annum in excess of RPI.
The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts). 25 per cent of the shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.
For further information please contact:
TT electronics plc
Geraint Anderson, Group Chief Executive: Tel: 01932 825300
Hudson Sandler
Andrew Hayes / Wendy Baker: Tel: 020 7796 4133
