Next PLC — Remuneration Information 2013

Apr 25, 2013

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RNS Number : 2865D

Next PLC

25 April 2013

Next plc

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

The following awards were granted to Directors on 25 April 2013 under the Next 2013 Share Matching Plan:

Maximum No. of Shares

Lord Wolfson	9,204
Christos Angelides	6,904
David Keens	6,904

The Directors, along with other senior executives, have invested part of their discretionary 2012/13 annual bonus in Next plc ordinary shares ("Investment Shares"), and the Company has granted awards up to a maximum of 200% of the post-tax amount used to buy these Investment Shares.

Awards normally vest 3 years after grant, provided the Investment Shares have been retained by the participant, they are still employed in the Next Group and the performance condition set by the Remuneration Committee has been satisfied. For these awards the performance condition will require the attainment of earnings per share ("EPS") targets for the year ending January 2016: 25% of awards will vest if EPS reaches 314.5p with 100% vesting if EPS reaches 365.0p. Between these EPS levels, straight line vesting will apply. For this purpose, EPS will be the Company's post-tax fully diluted EPS, although the Remuneration Committee may adjust this EPS measure for exceptional items. To the extent that the performance condition is not met, the award will lapse.

This notification is provided in accordance with DTR3.1.4R(1).

Mr A J R McKinlay

Company Secretary

Next plc

This information is provided by RNS

The company news service from the London Stock Exchange

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