Tawa PLC Treasury shares and LTIP Vesting (5003D)

TIDMTAW

RNS Number : 5003D

Tawa PLC

28 March 2014

Treasury shares and LTIP Vesting

Treasury shares

Tawa plc ("Tawa" or the "Company") has today transferred 198,541 shares out of treasury to meet the accelerated vesting, linked to the occurrence of the Demerger, of a certain proportion of awards under the Tawa 2007 Performance Share ("PSP"). Following the transfer Tawa has 119,316 shares in treasury. The total number of shares in issue less the total number of treasury shares is 113,065,166.

LTIP Vesting

Gilles Erulin was granted an award over 405,797 shares under the PSP conditional on satisfaction of certain performance targets. Since only one of the four performance conditions applicable to the PSP awards has been satisfied, the PSP award has vested as to approximately 14% of the shares in respect of which it was awarded. This has resulted in Gilles Erulin being awarded 56,812 shares. Following the award of the shares he has a beneficial interest in 997,157 shares.

Enquiries:

 
 Gilles Erulin, Chief Executive, Tawa     020 7068 
  plc                                      8000 
                                          020 7623 
 Michael Gaughan, FWD                      2368 
 Guy Wiehahn / Harry Florry, Peel Hunt    020 7418 
  (Nominated Adviser and Broker)           8900

Further information can be found on the Company's website: www.tawaplc.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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