16 Apr 2010 09:46
THE UNITE GROUP PLC
16 April 2010
("THE COMPANY")
DEALINGS BY DIRECTORS
On 14 April 2010, conditional share awards pursuant to the Company's Long Term Incentive Plan (the "LTIP"), were made to Mr Mark Allan, Chief Executive of the Company, in respect of 158,436 ordinary shares of 25p each in the capital of the Company; to Mr John Tonkiss , Chief Operating Officer of the Company, in respect of 98,765 ordinary shares of 25p each in the capital of the Company; and to Mr Joe Lister, Chief Financial Officer of the Company, in respect of 90,534 ordinary shares of 25p each in the capital of the Company (the "2010 LTIP Awards").
The number of shares that will unconditionally vest in Messrs Allan, Tonkiss and Lister pursuant to the 2010 LTIP Awards will be determined following expiry of the three year measurement period attaching to those awards, by reference to the net asset value and total shareholder return performance of the Company over that period.
In respect of the LTIP awards made to Messrs Allan, Tonkiss and Lister in 2007 ("the 2007 LTIP Awards"), the three year measurement period expired on 11 April 2010. None of the shares the subject of those awards will vest unconditionally, as a result of which the 2007 LTIP Awards have lapsed. Therefore, on 11 April 2009, Mr Allan ceased to be interested in the 55,096 shares the subject of his 2007 LTIP award; Mr Tonkiss ceased to be interested in the 33,058 shares the subject of his 2007 LTIP Award; and Mr Lister ceased to be interested in the 12,842 shares the subject of his 2007 LTIP award.
Following the 2010 LTIP Awards and the lapsing of the 2007 LTIP Awards, Mr Allan is now interested in 1,102,277 shares in the Company, representing 0.688% of its issued share capital; Mr Tonkiss is now interested in 520,349 shares in the Company, representing 0.325% of its issued share capital; and Mr Lister is now interested in 538,976 shares in the Company, representing 0.336% of its issued share capital.
Included in the interests of Mr Allan are, in addition to the shares the subject of his 2010 LTIP Award, a further 539,388 shares the subject of LTIP awards made to Mr Allan in April 2008 and 2009.
Included in the interests of Mr Tonkiss are, in addition to the shares the subject of his 2010 LTIP Award, a further 294,211 shares the subject of LTIP awards made to Mr Tonkiss in April 2008 and 2009.
Included in the interests of Mr Lister are, in addition to the shares the subject of his 2010 LTIP Award, a further 280,201 shares the subject of LTIP awards made to Mr Lister in April 2008 and 2009.
The number of shares that will unconditionally vest in Messrs Allan, Tonkiss and Lister pursuant to their 2008 and 2009 LTIP awards will also be determined following the end of the three year measurement periods attaching to those awards by reference to the net asset value and total shareholder return performance of the Company over the relevant period.
END
Unite (UTG)