Mothercare Plc : Mothercare Plc : Director/PDMR Shareholding
To The London Stock Exchange
14 March 2013
Long term incentive plan 2012
Mothercare plc announces that the first awards under the Mothercare 2012 Long
Term Incentive Plan (which was approved by shareholders at a general meeting
on 20 December 2012) were made to the following directors/persons discharging
managerial responsibilities on 11 March 2013 in the form of nil cost options:
Director/PDMR Number of shares
Simon Calver 778,816
Tim Ashby 147,975
Jude Bridge 121,149
Jerry Cull 179,128
Philippe Dayraud 134,129
Louise Palmer 156,845
Matthew Stringer 129,803
The awards will vest in whole or part subject to the achievement of stretching
corporate performance conditions supporting the execution of the
Transformation and Growth Plan, as set out in the Notice of General Meeting.
The performance conditions relate to Group Profit Before Tax and share price
performance. In addition, the UK business must break even in the financial
year ending 2015 or 2016 and vesting is condition upon the director/PDMR
having built up a minimum shareholding requirement within 3 years.
The performance period is from 1 April 2012 to 31 March 2015 and the
performance conditions will be tested in relation to the FY2015 results to
determine what percentage of the shares vest. If the UK business breaks even
in FY15, up to 50% of the shares will vest immediately following the
announcement of the FY15 results. The remainder will vest 12 months later. If
the UK business does not break even in FY15, no shares will vest at that time.
However, if the UK business breaks even in FY16, then all the shares that have
earned will vest immediately following the announcement of the FY16 results.
If the UK business has not broken even by FY16, all awards will lapse.
No consideration is payable for the grant of these awards.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Mothercare Plc via Thomson Reuters ONE
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