NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Hays plc (the "Company")
In accordance with DTR 3.1.4(R)(1)(a) the Company hereby
notifies you of the following changes in the interests of directors
and persons discharging managerial responsibility ("PDMRs") arising
out of the grant of conditional awards of Ordinary shares in the
Company ("Shares") under the 2012 Performance Share Plan.
2012 PERFORMANCE SHARE PLAN ("PSP")
Today, 8 November 2012, the
following conditional awards of Shares were granted for nil
consideration to PDMRs under the rules of the PSP. The number of
Shares under the award was calculated by reference to the price of
81.55 pence per Share, being the
closing middle market price on 7 November
2012. The number of Shares stated below is the maximum
number of Shares available to each PDMR on satisfaction in full of
the applicable performance conditions (excluding dividend
equivalent shares).
DIRECTOR NUMBER OF SHARES
NAME OR PDMR UNDER PSP AWARD
Alistair Cox Director & PDMR 1,427,302
Paul Venables Director & PDMR 1,029,082
Tim Cook PDMR 427,218
Nick Cox PDMR 492,419
James Cullens PDMR 372,846
Sholto Douglas-Home PDMR 310,705
Nigel Heap PDMR 769,985
Stephen Weston PDMR 427,218
TOTAL SHARES 5,256,775
The vesting of one-half of the Shares under award will depend on
the Company's total shareholder return performance relative to a
sector peer group, measured over the three-year period to
30 June 2015. Vesting of this tranche
will also be dependent on the Remuneration Committee being
satisfied with the financial performance of the Company over the
three-year period. The vesting of the remaining one-half of the
Shares under award will depend on achievement of a target based on
the Group's cumulative Earnings per Share ("EPS") performance over
the three financial years from 1 July
2012 to 30 June 2015. The
lower and upper EPS growth range for the first year of the cycle,
from 1 July 2012 to 30 June 2013, will be based on external consensus
forecasts for that year (being a range of +/- 4% around the
consensus forecast EPS of 4.86p per share). The EPS growth for the
remaining two years of the cycle from 1 July
2013 to 30 June 2015 will
require additional growth of between RPI+4% and RPI+12% per annum
to achieve threshold and maximum vesting respectively. This
approach was adopted following discussion with major shareholders
in 2010. Further information is set out in the Company's 2012
Remuneration Report published in September
2012.
For further information in respect of this announcement please
contact Neil Tsappis, Deputy Company Secretary, Hays plc on +44 (0)
20 7383 2266.