ACH Achp

 

TIDMTAW 
 
RNS Number : 0285K 
Tawa PLC 
12 April 2010 
 

 
 
 
Tawa plc 
12 April 2010 
 
 
                           Director/PDMR Shareholding 
 
Tawa plc ('the Company') announces that on 12 April 2010 it made its annual 
grant of awards over the Company's Ordinary Shares of 10p each ('the Shares') 
under the Tawa 2007 Performance Share Plan ('the Plan') to those of its 
executive directors detailed in the table below. 
 
Name                Role                                             Number of 
shares        Total number of 
 
subject to awards        awards now held 
Gilles Erulin       Chief Executive Officer                   289,655 
          1,694,271 
David Vaughan   Chief Operating Officer                   273,103 
      1,518,255 
 
Awards granted under the Plan will vest on 11 April 2013 provided that certain 
performance criteria (as set out below), are satisfied by the Company over a 
three year period. No consideration is payable for the grant of the awards. The 
receipt of the Shares is conditional upon meeting the performance criteria and 
the recipient being either an employee or director within the Company's group on 
11 April 2013. 
 
Performance conditions 
1)   One half of the award will be dependent on the compound growth in the 
Company's Net Asset Value per Share, expressed in the currency of the listing, 
before dividends over a period commencing 1 January 2010 to 31 December 2012 on 
the following criteria: 
 
            NAV per Share growth during the                         Percentage 
of one-half of the total 
            performance period (average compound)              number of Shares 
subject to the 
 
   award that will vest 
            Less than 7.5%                                                 Nil 
            Equal to 7.5%                                                   25% 
            Equal to or greater than 15%                              100% 
            Between 7.5% and 15%                                     Pro-rata 
between 25% and 100% 
2)   One half of the award will be dependent on the Company's relative Total 
Shareholder Return performance against a group of companies comprising the 
constituents of the FTSE Small Cap (excluding investment trusts) over a single 
period of three years: 
 
            Rank of the Company's TSR 
            against comparator companies                Percentage of one-half 
of the total number of 
            at the end of the performance period        Shares subject to the 
award that will vest 
            Below median                                        Nil 
            Median                                                  25% 
            Upper quartile                                        100% 
            Between median and upper quartile         Pro-rata between 25% and 
100% 
 
The notification of these awards is made pursuant to AIM Rule 17 and Schedule 5 
to the AIM Rules for Companies. 
 
Enquiries: 
+-----------------------------------+-------------------------+ 
| Christopher Jones, Company        | 020 7068 8071           | 
| Secretary                         |                         | 
| Tawa plc                          |                         | 
+-----------------------------------+-------------------------+ 
| James Britton or Guy Wiehahn      | 020 7418 8900           | 
| KBC Peel Hunt (nominated adviser  |                         | 
| and broker)                       |                         | 
+-----------------------------------+-------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSLLFIISEIFLII 
 

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