Source - RNS
RNS Number : 5969H
Luceco PLC
08 June 2017
 

LUCECO PLC (THE "COMPANY")

 

REPLACEMENT ANNOUNCEMENT

 

Amendments have been made to the 'Grant of awards under performance share plan' announcement released on 30 May 2017 at 11.53am under RNS number 5729G due to an incorrect exercise price having been used to calculate the number of shares awarded.

 

The full amended text is shown below.

 

8 June 2017

 

GRANT OF AWARDS UNDER PERFORMANCE SHARE PLAN

 

The Company announces that awards have been granted to the following Persons Discharging Managerial Responsibility ("PDMRs") under the Luceco 2017 Performance Share Plan ("PSP"), which was approved by shareholders at the Company's AGM held on 25 May 2017.

 

Each of the following PDMRs have been granted awards in the form of nil-cost options over the number of ordinary shares of 0.05 pence in the Company under the terms of the PSP as set out below:

 

PDMR

Role

Number of shares awarded

John Hornby

Chief Executive Officer

145,331

David Main

Chief Financial Officer

72,665

Wayne Hill

Group Commercial Director

36,333

Ian Pritchard

Company Secretary

24,378

John Williams

Group Specification Director

26,160

 

In addition each PDMR has been awarded a linked tax qualifying option over 12,457 shares at an exercise price of £2.408. On exercise the number of shares under the nil-cost option will be reduced proportionally to take account of any gain on the exercise of the tax qualifying option such that the PDMR will not receive a greater number of shares than is subject to the nil-cost option.

 

The awards will vest subject to the satisfaction of performance conditions measuring the Company's earnings per share and total shareholder return performance. The extent to which awards will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 January 2017 to 31 December 2019. No consideration was paid for any of the awards

 

This notification is made in accordance with the Market Abuse Regulation ("MAR"). Template notifications required by the MAR are attached to this announcement. 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

1.   John Hornby

 

2.   David Main

 

3.   Wayne Hill

 

4.   Ian Pritchard

 

5.   John Williams

2

Reason for the notification

a)

Position/status

1.   PDMR

 

2.   PDMR

 

3.   PDMR

 

4.   PDMR

 

5.   PDMR

b)

Initial notification/Amendment

Amendment

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

  ISIN: GB00BZC0LP49

b)

Nature of transaction

1,2,3,4 and 5- An award of Ordinary Shares made under the Luceco PLC Performance Share Plan ("PSP") on 25 May 2017.

c)

Price(s) and volume(s)

Price(s)

Volume(s)



1.   £2.408

2.   £2.408

3.   £2.408

4.   £2.408

5.   £2.408

1.   145,331

2.   72,665

3.   36,333

4.   24,378

5.   26,160

d)

Aggregated information

-      Aggregated volume

-      Price

 

 N/A (Single transaction)

e)

Date of the transaction

25 May 2017

f)

Place of the transaction

Outside a trading venue (XOFF)

 

 

ENDS

 

For further information, contact David Main, Chief Financial Officer 01952 238100

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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