4 Jul 2013 16:00
Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Management Responsibilities ("PDMRs")
The Company announces the following transactions by PDMRs in the Company's ordinary 5p shares ("Shares").
Award Exercises and Associated Sale of Shares
Awards granted in 2010 under the Company's 2004 Performance Share Plan ("PSP"), which vested on 24 June 2013, were exercised on 1 and 2 July 2013. The awards were rights to acquire Shares for nil consideration, subject to the rules of the PSP and to performance targets (relative total shareholder return and a financial underpin). Details of the awards exercised by Executive Directors and Persons Discharging Managerial Responsibilities ("PDMR") are in the table below.
The exercise of the awards was satisfied by the transfer of the relevant number of Shares from the Company's Employee Benefits Trust.
Individuals who exercise awards are required to discharge the corresponding tax liabilities. The Executive Directors and PDMR listed in the table below have sold Shares, in the case of Steve Corcoran and Mike McGrath, to cover the tax liabilities (Ian Scapens has sold all of the Shares acquired on exercise of his award). Steve Corcoran has transferred the balance of his Shares to his spouse.
Director/PDMR | Date of Exercise | Aggregate Number of Shares Acquired on Exercise of PSP Award | Date of Sale | Number of Shares Sold | Average Sale Price |
Steve Corcoran | 1 July 2013 | 647,064 | 3 July 2013 | 302,585 | £0.596054 |
Mike McGrath | 2 July 2013 | 418,688 | 3 July 2013 | 26,399 | £0.594572 |
Ian Scapens | 1 July 2013 | 176,990 | 3 July 2013 | 176,990 | £0.605824
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The above notification is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4.
Enquiries:
James Blair
Group Company Secretary
Speedy Hire Plc
Telephone: 01942 720000
Speedy Hire (SDY)