Rentokil Initial PLC

Director's Dealing • Apr 1, 2015

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RNS Number : 2391J

Rentokil Initial PLC

01 April 2015

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)    Jürgen Hӧfling             (PDMR)

iv)    John Myers                   (PDMR)

v)     Stewart Power              (PDMR)

vi)    Martin Sawkins            (PDMR)

vii)   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 - 2015 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 2015 - Performance Share Plan award

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

01 April 2018 to 31 March 2025 (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	632,324	1,053,874~	Performance share plan
Jeremy Townsend	338,745	677,490	Performance share plan
	Award			Type of award
Jürgen Hӧfling	228,069			Performance share plan
John Myers	217,760			Performance share plan
Stewart Power	179,659			Performance share plan
Martin Sawkins	195,794			Performance share plan
Phill Wood	238,284			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

~ Andy Ransom's maximum award is capped at 200% of salary

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	632,324	1,053,874	Performance share plan 2015
	680,713	1,134,522	Performance share plan 2014
	275,229	458,716	Supplementary performance share plan 2013
	551,318	937,500	Performance share plan 2013
	541,190	1,082,380	Performance share plan 2012
	2,680,774	4,666,992	Total

Jeremy Townsend	338,745	677,490	Performance share plan 2015
	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
	1,685,351	3,370,702	Total
Jürgen Hӧfling	228,069	228,069	Performance share plan 2015
	228,069	228,069	Total

John Myers	217,760	217,760	Performance share plan 2015
	154,117	154,117	Performance share plan 2014
	199,848	199,848	Performance share plan 2013
	221,795	332,692	Performance share plan 2012
	64,961	64,961	Performance share plan 2008**
	858,481	969,378	Total

Stewart Power	179,659	179,659	Performance share plan 2015
	192,463	192,463	Performance share plan 2014
	372,122	372,122	Total

Martin Sawkins	195,794	195,794	Performance share plan 2015
	210,777	210,777	Performance share plan 2014
	265,625	398,437	Performance share plan 2013
	296,752	445,128	Performance share plan 2012
	968,948	1,250,136	Total

Phill Wood	238,284	238,284	Performance share plan 2015
	255,267	255,267	Performance share plan 2014
	165,980	165,980	Performance share plan 2013
	186,049	279,073	Performance share plan 2012
	845,580	938,604	Total

** Vested and unexercised.

Awards granted in 2011 lapsed on 1 August 2014.

23. Any additional information

Not applicable

24. Name of contact and telephone number for queries

Alexandra Laan, Assistant Company Secretary - +44 (0)1276 607444

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

Daragh Fagan, Company Secretary - 01 April 2015

This information is provided by RNS

The company news service from the London Stock Exchange

END

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