Director Shareholding
March 12 2003 - 5:08AM
UK Regulatory
RNS Number:6175I
RAC PLC
12 March 2003
RAC plc - Director Shareholdings
Executive Share Option Scheme (2001)
Grants of options under the Company's Executive Share Option Scheme, at an
Option Price of #3.71 per Ordinary 25p share, were made on 11 March 2003 to the
following Executive Directors:
Total Options
Name of Options Granted now held over
Director on 11 March 2003 Ordinary Shares
Andrew Harrison 355,794 1,026,157
Peter Harris 194,070 443,060
Debbie Howard 149,595 324,438
Jon Walden 198,111 440,705
The Options, which were granted for nil consideration, are normally exercisable
in the period from 11 March 2006 to 10 March 2010, subject to the specific
performance targets attached to each grant being achieved.
Long Term Incentive Plan
On 11 March 2003, the trustees of the Long Term Incentive Plan, Lex Employee
Benefit Trustees Limited, sold 121,822 Ordinary 25p shares at a price of #3.64
per share to meet the income tax liability of participants whose awards had
vested under the Plan. The trustees then transferred a total of 195,551 Ordinary
25p shares to participants, representing the net number of vested shares after
the deduction of income tax.
The trustees' shareholding following the aforementioned sale and transfer now
stands at 124,685 Ordinary 25p shares representing 0.11% of the Company's issued
share capital. The Executive Directors of RAC plc are each deemed to be
technically interested in these transactions as potential beneficiaries under
the Plan.
The direct beneficial interests of the Executive Directors in the transactions
were as follows:
Shares Total Total as a
Name of Shares Awarded Shares % of share
Director Sold (Net) now held capital
Andrew Harrison 17,921 26,881 88,336 0.08%
Peter Harris 11,304 16,956 76,956 0.07%
Paul Hewitt 11,029 16,542 67,320 0.06%
Debbie Howard 6,342 9,511 20,746 0.02%
Jon Walden 5,514 8,271 22,998 0.02%
Acquisition of shares
On 11 March 2003, the Company was notified by Peter Smith, non-executive Deputy
Chairman of RAC plc, that he had acquired 12,000 Ordinary 25p shares at a price
of #3.64 per share, which represents his total beneficial interests (0.01%) in
the issued share capital.
Disposal of shares
On 11 March 2003, the Company was notified by Jon Walden, an Executive Director
of RAC plc, that he had sold 17,998 Ordinary 25p shares at a price of #3.64 per
share. His beneficial interests following this disposal have decreased to a
total shareholding of 5,000 Ordinary 25p shares (0.00% of the issued share
capital).
12 March 2003
website: www.racplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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