Last checked at 28 May 2015 15:36
Tate & Lyle PLC
Director/PDMR Shareholding
Tate & Lyle PLC (the ‘Company’) was informed yesterday that, following the Remuneration Committee’s determination that conditional awards of ordinary shares in the capital of the Company (‘Shares’) granted on 11 July 2012 (the ‘Award’) to Persons Discharging Managerial Responsibility under the Performance Share Plan (‘PSP’) will vest at 14.7%, Javed Ahmed elected on 27 May 2015 to waive his award in full for no consideration. This amounts to 45,653 Shares based on this vesting percentage. Accordingly, no PSP Shares will be released to Mr Ahmed in respect of the Award.
This took place in London.
The number of Shares released to participants in respect of the Award is subject to the satisfaction of the following performance conditions over the period from 1 April 2012 to 31 March 2015:
| Performance condition | Weighting | Range | Performance outcome | Vesting outcome for this element | |||||
| EPS growth | 50% | 6%-15% | Not achieved | Nil | |||||
| ROCE | 50% | 13.4%-16.4% | Achieved (13.9%) | 14.7% of grant |
This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure and Transparency Rules.
Lucie GilbertCompany Secretary
28 May 2015
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006013/en/
Copyright Business Wire 2015