SIG PLC — Remuneration Information 2017

Apr 25, 2017

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RNS Number : 3178D

SIG PLC

25 April 2017

SIG plc

DIRECTOR/PDMR Shareholding

Notification and public disclosure of LTIP Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons

SIG plc confirms that an allocation was granted under the terms of the SIG plc 2014 Long Term Incentive Plan ("LTIP") to Executive Directors as set out below.  The awards were granted on 24 April 2017 and the ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the LTIP, and are then subject to a further two-year holding period.  The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.

Name                             Status                          No. of shares subject to allocation

Meinie Oldersma             Director                        954,003

Group Chief Executive

Nick Maddock                 Director                        459,965

Chief Financial Officer

Following this award, total holding and interests in ordinary shares in SIG plc are:

Name	Total holdings of ordinary shares	Percentage of current issued share capital	Total interest in ordinary shares
Meinie Oldersma	Nil	Nil	954,003
Nick Maddock	Nil	Nil	459,965

This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.           

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Meinie Oldersma
2	Reason for the notification
a)	Position/status	PDMR (Chief Executive Officer)
b)	Initial notification/Amendment	This is an initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SIG plc
b)	LEI	213800VDC1BKJEZ8PV53
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10p ISIN:  GB0008025412
b)	Nature of the transaction	Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares.  Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		GBP Nil	954,003
d)	Aggregated information -     Aggregated volume -     Price	Aggregated volume:  954,003 GBP Nil
e)	Date of the transaction	2017-04-24
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nick Maddock
2	Reason for the notification
a)	Position/status	PDMR (Chief Financial Officer)
b)	Initial notification/Amendment	This is an initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SIG plc
b)	LEI	213800VDC1BKJEZ8PV53
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10p ISIN:  GB0008025412
b)	Nature of the transaction	Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares.  Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		GBP Nil	459,965
d)	Aggregated information -     Aggregated volume -     Price	Aggregated volume:  459,965 GBP Nil
e)	Date of the transaction	2017-04-24
f)	Place of the transaction	XLON

Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 24 April 2020.

The performance conditions subject to which the options have been granted are as follows:

An Award shall be subject to two performance targets in accordance with this Schedule.

1.            Two-thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche").  The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.

Average Return on Capital Employed (ROCE) for FY2017-2019	% of  ROCE Tranche vesting
10% or less	Nil
Above 10% but less than 13.5%	Between 0% and 100% on a straight-line basis
13.5% and above	100%

2.            One-third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche").  The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.

Cumulative Underlying EPS for FY2017-2019	% of  EPS Tranche vesting
Less than 31 pence	Nil
31 pence to 38 pence	Between 0% and 100% on a straight-line basis
Above 38 pence	100%

R C Monro

Company Secretary                   0114 285 6355

This information is provided by RNS

The company news service from the London Stock Exchange

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