Last checked at 26 Jun 2014 12:45
WORKSPACE GROUP PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRs
Workspace Group PLC ('the Company') announces that on 26 June 2014 awards over the Company's ordinary shares of £1.00 each ('Shares') were granted to the following Executive Directors and Persons Discharging Managerial Responsibility (PDMRs) of the Company. Awards were granted under the Company's Long Term Equity Incentive Plan (the 'Plan') that was approved by the Company's shareholders on 23 April 2008.
1. Performance Share Awards
Performance Share Awards were granted for nil consideration to the following Executive Directors and PDMRs:
Director/PDMR | Performance Share Award |
Jamie Hopkins, Chief Executive Officer | 73,469 |
Graham Clemett, Chief Financial Officer | 45,918 |
Angus Boag, Development Director (PDMR) | 41,335 |
Chris Pieroni, Operations Director (PDMR) | 41,335 |
The Performance Share Awards were granted for nil consideration and were based on a share price of £5.7033per Share, being the average middle market closing price of such Shares over the three dealing days on 17th,18th and 19th June 2014.
The vesting of Performance Share Awards is conditional on continued employment, (subject to good leaver exceptions) and the satisfaction of performance conditions over a three year performance period.
2. Invested Shares and Matching Share Awards
The following individuals were invited to commit shares worth up to 50% of their net annual salary (excluding bonuses and benefits in kind) ('the Invested Amount') as invested shares. An additional award of 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 grant of the Matching Share Award using a sum calculated by reference to the Invested Amount. The sum is calculated by grossing up the Invested Amount (in effect treating the Invested Amount as the amount net of income tax and employees' national insurance) and then multiplying this grossed up sum by two.
Matching Share Awards have been granted to the following individuals on 26 June 2014 for nil consideration, as follows:
Director/PDMR | Matching Share Award |
Jamie Hopkins, Chief Executive Officer | 60,378 |
Graham Clemett, Chief Financial Officer | 45,918 |
Angus Boag, Development Director (PDMR) | 41,335 |
Chris Pieroni, Operations Director (PDMR) | 41,335 |
The Matching Share Awards will vest on the third anniversary of the date of grant. The vesting of Matching Share Awards is conditional on continued employment, (subject to good leaver exceptions) and the satisfaction of performance conditions over a three year performance period.
For enquiries please contact:
Carmelina Carfora, Company Secretary 0207 138 3300