Director/PDMR Shareholding
May 07 2008 - 1:37PM
UK Regulatory
RNS Number:9305T
Woolworths Group PLC
07 May 2008
Woolworths Group plc
Directors' Interests: Share Awards
The Share Awards listed below were made on 6 May 2008 under the Woolworths Group
Annual Incentive Plan and the Woolworths Group Performance Share Plan.
Annual Incentive Plan
The following awards of ordinary shares of 12.5p each nominal in the Company
have been made on 6 May 2008 under the Company's Annual Incentive Plan. These
conditional awards were made at a price of 11.25p per share and will vest,
subject to the rules of the Plan on 6 May 2011.
The basic Core Award is as follows:
Conditional
Share Award
Trevor Bish-Jones 638,179
Stephen East 380,513
Stephen Lewis 368,180
Tony Page 368,180
In accordance with the rules of the Plan additional Matching Shares may be
awarded for achievement of performance targets over the vesting period which
ends on 6 May 2011 and provided that the Director remains in employment with the
Company at that time. The following table sets out how any additional Matching
Share Award will vary in line with the increase in earnings per share ("EPS").
Increase in EPS Shares
Trevor Bish-Jones Less than 2% pa Nil
2% pa 191,454
3% pa 319,090
4% pa 478,634
5% pa 638,179
Stephen East Less than 2% pa Nil
2% pa 114,154
3% pa 190,257
4% pa 285,385
5% pa 380,513
Stephen Lewis Less than 2% pa Nil
2% pa 110,454
3% pa 184,090
4% pa 276,135
5% pa 368,180
Tony Page Less than 2% pa Nil
2% pa 110.454
3% pa 184,090
4% pa 276,135
5% pa 368,180
No new shares will be issued to satisfy these awards.
Performance Share Plan
The following awards of ordinary shares of 12.5p each nominal in the Company
have been made on 6 May 2008 under the Company's Performance Share Plan. These
conditional awards were made at a price of 11.25p per share and will vest,
subject to the rules of the Plan and the future performance of the Company, on 6
May 2011, provided also that the Director remains in employment with the Company
at that time.
The awards for on target performance are as follows:
Conditional
Share
Award*
Trevor Bish-Jones 947,556
Stephen East 564,978
Stephen Lewis 546,667
Tony Page 546,667
*Assumes on target EPS and TSR performance
In accordance with the rules of the Plan, 50% of the conditional aware depends
on the increase in the Company's fully diluted, adjusted earnings per share ("
EPS") over the next three years. The increase in EPS is in addition to the
increase in the Retail Prices Index. The following table sets out how this
element of the awards will vary in line with the increase in EPS.
EPS-Based Award
Less than 2% 2% pa 3% pa 4% pa 5% pa 6% pa
pa
Trevor Bish-Jones Nil 236,889 473,778 710,667 947,556 1,184,445
Stephen East Nil 141,245 282,489 423,734 564,978 706,222
Stephen Lewis Nil 136,667 273,334 410,001 546.668 683,334
Tony Page Nil 136,667 273,334 410,001 546,668 683,334
In addition, the remaining 50% of the conditional award depends on the Company's
Total Shareholder Return ("TSR") performance over the next three years. The
Comparator group for these purposes is the FTSE General Retailers Index. The
following table sets out how this element of the award will vary in line with
the increase in EPS.
TSR-Based Award
below median median - 61st - 70th 71st - 80th upper
60th percentile percentile quintile
percentile
Trevor Bish-Jones Nil 236,889 473,778 710,667 1,184,444
Stephen East Nil 141,244 282,489 423,733 706,222
Stephen Lewis Nil 136,666 273,333 409,999 683,333
Tony Page Nil 136,666 273,333 409,999 683,333
No new shares will be issued to satisfy any of these awards.
The interest of each of the directors in ordinary shares, share options and
conditional share awards following the grant of these awards is:
Conditional Share
Shares Share options Awards
Trevor Bish-Jones 756,502 2,274,434 6,437,620*
Stephen East 400,000 11,333 1,922,576*
Stephen Lewis 241,102 727,921 1,441,261*
Tony Page 30,000 Nil 2,140,632*
*This figure assumes on target performance is achieved.
The company was notified of the awards on 6 May 2008.
7 May 2008
Stephen East
Group Finance Director
For further information contact:
Stephen East, Group Finance Director, Woolworths Group plc 020 7479 5179
Celia Gordon-Chute, Tulchan Communications 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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