Director Shareholding
July 21 2003 - 12:51PM
UK Regulatory
RNS Number:7919N
South Staffordshire Water PLC
21 July 2003
South Staffordshire Water PLC
a. Vesting of Awards under the Long Term Incentive Plan
It is announced that Brian Whitty has today acquired 18,602 ordinary shares
of 10p each (0.03% of the class), that David Penna has acquired 15,907
ordinary shares of 10p each (0.03% of the class) and that Adrian Page has
acquired 10,311 ordinary shares of 10p each (0.02% of the class) under the
Long Term Incentive Plan.
The shares were provisionally awarded on 20 July 2000 with an award period
of 3 years. The vesting of the provisional awards depended on the
fulfillment of challenging performance criteria relating to EPS growth and
share price performance against a comparator group of companies. Performance
against the criteria was such that the Trustee of the Scheme has allowed
871/2% of the shares provisionally awarded to vest.
The shares were acquired for no consideration but are subject to income tax
and NI. Mr Whitty and Mr Penna have retained all of the shares acquired. Mr
Page has sold 4,133 shares at a price of #4.90 which was sufficient to cover
the tax liability.
Mr Whitty now holds 73,627 ordinary shares of 10p each (0.12% of the class).
Mr Penna now holds 54,334 ordinary shares of 10p each (0.09% of the class).
Mr Page now holds 25,128 ordinary shares of 10p each (0.04% of the class).
b. Transactions by the Employee Trust
The South Staffordshire Water Employee Trust has today disposed of 44,820
ordinary shares of 10p each (0.07% of the class) and now holds 4,143
ordinary shares (0.007% of the class).
This information is provided by RNS
The company news service from the London Stock Exchange
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