LAM Lamprell Plc

TIDMLAM

RNS Number : 1758M

Lamprell plc

11 October 2016

11 October 2016

LAMPRELL PLC

("Lamprell" or "Company" and with its subsidiaries the "Group")

Notification of interests of Persons Discharging Managerial Responsibility (PDMRs) and connected persons

This announcement is made in accordance with the requirements of DTR 3.1.4R(1)(a).

On Appointment awards

The Company has made the following awards to Christopher McDonald following his appointment as Chief Executive Officer of Lamprell and a Director of the Company as from 1 October 2016. In line with an agreement between the Company and Mr McDonald, the Company has agreed to compensate him for unvested share awards that he forfeited as a consequence of joining Lamprell. Subject to fulfilment of applicable conditions, the incentives will vest on the dates detailed below:

 
 Company Plan            Shares awarded   Grant date        Vesting date 
                                                            01 October 
 Retention share plan    281,761          10 October 2016    2017 
                                                            01 October 
 Retention share plan    94,452           10 October 2016    2018 
                                                            01 October 
 Retention share plan    46,811           10 October 2016    2019 
 
 Performance share                                          01 October 
  plan                   55,219           10 October 2016    2017 
 Performance share                                          01 October 
  plan                   102,019          10 October 2016    2018 
 Performance share                                          01 October 
  plan                   147,331          10 October 2016    2019 
 Total                   727,593 
 
 

This replacement award has been made on a like-for-like basis, with the incentives exercisable broadly in accordance with the original vesting timeframe which applied to the forfeited awards. This arrangement has been put in place in accordance with LR9.4.2, which allows an individual scheme to be put in place to assist with the recruitment of an executive director, and is consistent with the Directors' Remuneration Policy.

- Ends -

Enquiries:

 
  Lamprell plc 
   Alex Ridout, Company Secretary    +971 (0) 4 803 9308 
 
 
  Tulchan Communications, London    +44 (0) 207 353 4200 
   Martin Pengelley 
   Martin Robinson 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 11, 2016 02:02 ET (06:02 GMT)

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