Last checked at 7 Jul 2010 16:30
7 JULY 2010
WORKSPACE GROUP PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRs
Workspace Group PLC ('the Company') announces that on 6 July 2010 the following awards over the Company's ordinary shares of 10 pence each ('Shares') were granted to the following Executive Directors and Persons Discharging Managerial Responsibility (PDMRs) of the Company. The awards were made under the Workspace Long Term Incentive Plan.
1. Performance Share Awards
Performance Share Awards were granted for nil consideration to the following Executive Directors and PDMRs (the 'Participants'):
| Director/PDMR | Number of Shares subject to the Performance Share Award |
| Harry Platt, Chief Executive* | 1,446,429 |
| Graham Clemett Finance Director* | 950,292 |
| Angus Boag, Development Director* | 932,362 |
| Chris Pieroni, Operations Director | 932,362 |
| Total | 4,261,445 |
The Performance Share Awards were granted for nil consideration and were based on a share price of 20.58 pence per Share, being the average middle market closing price of such Shares over the three dealing days immediately prior to the date the participants were offered the award.
Vesting of Performance Share Awards is subject to continued employment and satisfaction of performance conditions measured over a three year period. Those individuals noted with an asterisk (*) elected to take 50% of the award in the form of a forfeitable co-ownership interest in shares combined with a linked option in respect of the relevant shares.
Invested Share Awards and Matching Share Awards
The following individuals were invited to invest up to 45% of their net annual basic salary ('the Invested Amount') in shares in the Company ('the Invested Shares'). An additional award over free shares was then granted to these individuals ('the Matching Share Award'). The number of shares comprised in a Matching Share Award is calculated as the number of shares as may be purchased in the market on the date of the invitation for an award using a sum calculated by reference to the Invested Amount. The sum is calculated by grossing up the Invested Amount (to take account of tax and national insurance borne by the participant) and then multiplying this grossed up sum by two.
Matching Share Awards were granted to the following Executive Directors and PDMRs for nil consideration:
| Director/PDMR | Invested Share Award | Matching Share Award |
| Harry Platt, Chief Executive* | 354,375 | 1,446,429 |
| Graham Clemett, Finance Director* | 232,821 | 950,292 |
| Angus Boag, Development Director* | 228,429 | 932,362 |
| Chris Pieroni, Operations Director | 128,476 | 524,392 |
| Total | 944,101 | 3,853,475 |
Vesting of Matching Share Awards is subject to continued employment, satisfaction of performance conditions measured over a three year period and retention of the Invested Shares. Those individuals noted with an asterisk (*) elected to take 50% of the Matching Share Award in the form of a forfeitable co-ownership interest in shares combined with a linked option in respect of the relevant shares.