Morgan Advanced Materials PLC

Remuneration Information • May 24, 2016

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 1528Z

Morgan Advanced Materials PLC

24 May 2016

MORGAN ADVANCED MATERIALS PLC (the Company)

24 May 2016

Notification of interests of directors/PDMRs and connected persons pursuant to DTR 3.1.4R(1)(a)

The Company announces that on 23 May 2016 awards over ordinary 25p shares in the Company were made to the Directors and PDMRs listed below under the Company's Long-Term Incentive Plan 2004 (LTIP), including the HMRC approved Schedule. 

The awards under the LTIP comprise up to three elements, (i) and (iii) relate to certain UK participants: (i) an HM Revenue & Customs approved option over shares up to the value of £30,000 with an exercise price of 241.42 pence per share; (ii) an LTIP award in the form of a conditional award of free shares to the value of the remainder of the award; and (iii) a funding award, also in the form of a conditional award of free shares, over such number of shares whose value at exercise of the approved option equals the value of the approved option on award.

Subject to satisfaction of performance targets, awards under the LTIP will vest in three years' time.

In addition to the satisfaction of the performance targets, the approved option will only vest in the event that the market value of a share at vesting is greater than 241.42 pence per share.  The funding award is used to fund the exercise price of the approved option and will be satisfied by shares from the Company's employee benefit trust.

Name	Capacity	Number of shares subject to award (LTIP award and approved option, where applicable)	Maximum number of shares subject to funding award (not retained by participant)
Pete Raby	Director	292,022	0
Peter Turner	Director	226,783 LTIP 12,426  Approved Option	12,426
Peter Blausten	PDMR	41,421	0
Paul Boulton	PDMR	28,995  LTIP 12,426 Approved Option	12,426
Simon Halliday	PDMR	28,995 LTIP 12,426  Approved Option	12,426
Alain Kirchmeyer	PDMR	134,620	0
Mike Murray	PDMR	43,493 LTIP 12,426  Approved Option	12,426
Ian Robb	PDMR	134,620	0

Following the grant of awards detailed above, the total number of shares in respect of which conditional awards are held by those individuals pursuant to the Company's LTIP are detailed below:

Name	Total number of shares held pursuant to LTIP awards
Pete Raby	428,261
Peter Turner	239,209
Peter Blausten	101,362
Paul Boulton	101,362
Simon Halliday	101,362
Alain Kirchmeyer	212,704
Mike Murray	116,026
Ian Robb	209,547

Enquiries:  Stephanie Mackie, Morgan Advanced Materials plc

Tel:  01753 837000

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHLLFVLEIISFIR