Rentokil Initial PLC

Director's Dealing • Jul 2, 2013

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RNS Number : 4525I

Rentokil Initial PLC

02 July 2013

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)      Alan Brown                   (Director)

ii)     Xuemei Bennink-Bai   (PDMR)

iii)    Chris Broe                    (PDMR)

iv)    Mike Brown                   (PDMR)

v)     John McAdam              (Director)

vi)    Andy Ransom              (Director)

vii)   Martin Sawkins            (PDMR)

viii)  Peter Slator                   (PDMR)

ix)    Jeremy Townsend      (Director)

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

a) Awards under the Performance Share Plan - 2010 award - Lapsed

b) Awards under the 2008 Share Incentive Plan - Final testing of share price performance targets in 2013 - No additional shares vested and remaining unvested shares lapsed.

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

a)    Performance Share Plan Award - 14 May 2010

b)    2008 Share Incentive Plan - 14 May 2008

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

a)    Performance Share Plan - 2010 award lapsed

b)    2008 Share Incentive Plan - Unvested shares lapsed

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

Nil

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

a)    Ordinary shares of 1 pence each - Performance share plan - lapse of 2010 award as follows:

	Target award	Maximum award
Alan Brown	744,000	1,240,000
Xuemei Bennink-Bai	280,000	560,000
Chris Broe	77,887	116,831
Mike Brown	291,262	582,524
Andy Ransom	360,000	720,000
Martin Sawkins	188,000	376,000
Peter Slator	240,000	480,000
Jeremy Townsend	412,621	825,242

b)    2008 Share Incentive Plan - Lapse of unvested shares as follows:

	Vested shares*	Lapsed shares
Alan Brown	2,667,318*	8,582,682
John McAdam	2,667,318*	8,582,682
Andy Ransom	2,667,318*	8,582,682

*The vested shares at 14 June 2013 include dividends accrued on those shares since the first vesting date on 19 May 2011.

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
Alan Brown	968,750	1,614,583*	Performance share plan 2013
	1,118,460	1,864,101*	Performance share plan 2012
	1,013,072	1,688,453*	Performance share plan 2011
	3,100,282	5,167,137
	n/a	2,667,318**	Share Incentive plan 2008**

Xuemei Bennink-Bai	312,500	468,750*	Performance share plan 2013
	360,793	541,189*	Performance share plan 2012
	180,694	271,041*	Performance share plan 2011
	853,987	1,280,980

Chris Broe	265,625	398,437*	Performance share plan 2013
	300,661	450,991*	Performance share plan 2012
	185,745	278,618*	Performance share plan 2011
	77,887	116,831*	Performance share plan 2011
	829,918	1,244,877

Mike Brown	325,125	487,687*	Performance share plan 2013
	368,009	552,013*	Performance share plan 2012
	326,798	490,197*	Performance share plan 2011
	n/a	234,542	Compensatory contractual award 2010
	1,019,932	1,764,439
John McAdam	n/a	2,667,318**	Share Incentive plan 2008**

Andy Ransom	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
	1,500,137	3,000,274
	n/a	2,667,318**	Share Incentive plan 2008**
Martin Sawkins	265,625	398,437*	Performance share plan 2013
	296,752	445,128*	Performance share plan 2012
	345,589	518,384*	Performance share plan 2011
	907,966	1,361,949

Peter Slator	375,000	562,500*	Performance share plan 2013
	414,912	622,368*	Performance share plan 2012
	441,177	661,766*	Performance share plan 2011
	1,231,089	1,846,634

Jeremy Townsend	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
	1,444,902	2,889,804

*The maximum performance share plan vesting is only applicable in the event of upper quartile TSR performance and maximum annual bonus outperformance for participants for the three year performance measurement period.

**The 2,667,318 shares vested under the Share Incentive Plan 2008 are no longer subject to performance conditions and other shares awarded under this Plan have lapsed.

23. Any additional information

Not applicable

24. Name of contact and telephone number for queries

Paul Griffiths, Company Secretary - +44 (0)1293 858000

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

Paul Griffiths - 02 July 2013

This information is provided by RNS

The company news service from the London Stock Exchange

END

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