Fuller, Smith & Turner PLC: Director/PDMR Shareholding
Fuller, Smith & Turner PLC (FSTA)
Fuller, Smith & Turner P.L.C.
Share Scheme Awards and Adjustments
At its meeting on 15 January 2020, the Remuneration Committee made awards under the Company's Long-Term Incentive Plan ("LTIP") which included the notifiable awards set out below.
All awards are over a combination of both 40p 'A' ordinary and 4p 'B' ordinary shares.
The calculation of the awards was based on the closing price as at 14 January 2020, being £9.61 for 'A' shares and £0.961 (notionally) for 'B' shares.
At the same meeting, the Remuneration Committee granted options under the Company's Executive Share Option Scheme ("ESOS") which included the notifiable awards set out below.
The options granted are over 40p 'A' ordinary shares and the option price was based on the closing price as at 14 January 2020, being £9.61.
An award amounts to a contractual right to acquire an interest in shares, provided the director remains an employee at the third anniversary of the grant (the normal vesting date), and only to the extent that the performance condition attached to the scheme is met. These criteria are based on a sliding scale which may result in less than the full award vesting.
As explained in the circular dated 6 September 2019 issued to shareholders in connection with the Return of Capital following the Disposal of the Fuller's Beer Business, the Remuneration Committee also adjusted awards subsisting under the LTIP on 1st October 2019 (being the record date for the for participating in the Return of Capital) to reflect the value the participants would otherwise have received. The price used to determine the additional number of shares was the closing 'A' share price on 1 October 2019 (being £11.975) less the per share value of the Return of capital (being £1.25). This amounted to £10.725 for A ordinary shares under award and £1.0725 for B ordinary shares under award. The adjustments included the notifiable awards set out below.
Finally, the Remuneration Committee also adjusted the award made in August 2019 under the Company's Deferred Bonus Plan on the same basis as for the LTIP above. The adjustment included the notifiable award set out below.
Enquiries: Severine Bequin 020 8996 2073 Company Secretary
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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ISIN: | GB00B1YPC344 |
Category Code: | DSH |
TIDM: | FSTA |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 41093 |
EQS News ID: | 955433 |
End of Announcement | EQS News Service |
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