Rentokil Initial PLC

Director's Dealing • Apr 1, 2014

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RNS Number : 7929D

Rentokil Initial PLC

01 April 2014

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Notes:    This form is intended for use by an issuer to make a RIS notification required by DR 3.3.

(1)	An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2)	An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.
(3)	An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4)	An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes in block capital letters.

1. Name of the issuer

Rentokil Initial plc

2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R,  (ii) a disclosure made in accordance  LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act 2006.

Pursuant to (i) and (iii) above

3. Name of person discharging managerial responsibilities/director

i)      Andy Ransom              (Director)

ii)     Jeremy Townsend      (Director)

iii)    John Myers                   (PDMR)

iv)    Stewart Power              (PDMR)

v)     Martin Sawkins            (PDMR)

vi)    Phill Wood                    (PDMR)

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

Not applicable

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

Pursuant to 3. above

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Ordinary shares of 1 pence each

7. Name of registered shareholder(s) and, if more than one, the number of shares held by each of them

Not applicable

8 State the nature of the transaction

Awards under the Performance Share Plan - 2014 award

9. Number of shares, debentures or financial instruments relating to shares acquired

Not applicable

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

Not applicable

11. Number of shares, debentures or financial instruments relating to shares disposed

Not applicable

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) 

Not applicable

13. Price per share or value of transaction

Not applicable

14. Date and place of transaction

Not applicable

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

Not applicable

16. Date issuer informed of transaction

Not applicable

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant

31 March 2014 - Performance Share Plan award

18. Period during which or date on which it can be exercised

01 April 2017 to 31 March 2024 (subject to performance conditions)

19. Total amount paid (if any) for grant of the option

Nil

20. Description of shares or debentures involved (class and number)

Ordinary shares of 1 pence each

	Target award	Maximum award*	Type of award
Andy Ransom	680,713	1,134,522	Performance share plan
Jeremy Townsend	364,667	729,334	Performance share plan

	Award		Type of award
John Myers	154,117		Performance share plan
Stewart Power	192,463		Performance share plan
Martin Sawkins	210,777		Performance share plan
Phill Wood	255,267		Performance share plan

Two thirds of the award relates to relative TSR performance targets and one third to EPS performance targets.

* The awards to Andy Ransom and Jeremy Townsend are subject to a performance modifier and maximum vesting is only applicable in the event of maximum annual bonus outperformance for the three year performance measurement period.

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

Nil

22. Total number of shares or debentures over which options held following notification

	Target award	Maximum award	Type of award
Andy Ransom	680,713	1,134,522	Performance share plan 2014
	468,750	937,500	Performance share plan 2013
	541,190	1,082,380	Performance share plan 2012
	490,197	980,394	Performance share plan 2011
	2,180,850	4,134,796
		________
	n/a	2,667,318	Share Incentive plan 2008**

Jeremy Townsend	364,667	729,334	Performance share plan 2014
	460,593	921,186	Performance share plan 2013
	521,346	1,042,692	Performance share plan 2012
	462,963	925,926	Performance share plan 2011
	1,809,569	3,619,138

John Myers	154,117	n/a	Performance share plan 2014
	199,848	n/a	Performance share plan 2013
	221,795	332,692	Performance share plan 2012
	190,456	285,684	Performance share plan 2011
	64,961	n/a	Performance share plan 2008**
	831,177	618,376

Stewart Power	192,463	n/a	Performance share plan 2014
	192,463

Martin Sawkins	210,777	n/a	Performance share plan 2014
	265,625	398,437	Performance share plan 2013
	296,752	445,128	Performance share plan 2012
	345,589	518,384	Performance share plan 2011
	1,118,743	1,361,949

Phill Wood	255,267	n/a	Performance share plan 2014
	165,980	n/a	Performance share plan 2013
	186,049	279,073	Performance share plan 2012
	160,979	241,469	Performance share plan 2011
	768,275	520,542

** Vested and unexercised.

Awards granted in 2010 lapsed on 28 June 2013.

23. Any additional information

Not applicable

24. Name of contact and telephone number for queries

Paul Griffiths, Company Secretary - +44 (0)1276 607444

25. Name of authorised official of issuer responsible for making notification and date of notification

Paul Griffiths - 01 April 2014

This information is provided by RNS

The company news service from the London Stock Exchange

END

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