Manx Telecom PLC Director/PDMR Shareholding (4847K)
07 July 2017 - 11:29PM
UK Regulatory
TIDMMANX
RNS Number : 4847K
Manx Telecom PLC
07 July 2017
7 July 2017
Manx Telecom PLC
Grant of options under the Manx Telecom PLC 2017 Long-Term
Incentive Plan (LTIP)
Further to disclosure in the 2016 Annual Report, Manx Telecom
plc (the "Company") announces that LTIP awards have been made to
Gary Lamb and Danny Bakhshi over shares worth 100% of base salary
and will be subject to Total Shareholder Return and Free Cash Flow
(FCF) metrics, measured over the three financial years to 2019,
with a
weighting of 50:50 respectively. A sliding scale range has been set for each metric as follows:
For the 50% of the award subject to cumulative FCF in the 2017,
2018 and 2019 financial years:
Percentage of the half
of the Award subject
to the FCF Condition
Aggregate FCF that Vests
----------------------- ---------------------------
Below GBP54.89m 0%
----------------------- ---------------------------
GBP54.89m 25%
----------------------- ---------------------------
GBP54.89m- GBP59.72m Vesting on a straight-line
basis between 25% and
100%
----------------------- ---------------------------
Between GBP59.72m and
GBP59.72m 100%
----------------------- ---------------------------
For the 50% of the award subject to total shareholder return
(TSR):
Relative TSR- Manx
Telecom PLC ranking
versus constituents
of the FTSE All Share Level of vesting for
Index (excluding Investment the half of the award
Trusts) subject to TSR
------------------------------ ---------------------------
Below median 0%
------------------------------ ---------------------------
Median 25%
------------------------------ ---------------------------
Between median and Vesting on a straight-line
upper quartile basis between 25% and
100%
------------------------------ ---------------------------
Upper Quartile or better 100%
------------------------------ ---------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
The below notification, made in accordance with the requirements
of the EU Market Abuse Regulation, gives further details of the
transactions on 7 July 2017.
1. Details of PDMR / person closely associated
with them ('PCA')
==== ========================================================================
a) Name Gary Edward Lamb
==== ============================= =========================================
b) Position / Chief Executive Officer
status
==== ============================= =========================================
c) Initial notification Initial Notification
/ amendment
==== ============================= =========================================
2. Details of the issuer
==== ========================================================================
a) Name Manx Telecom plc
==== ============================= =========================================
b) LEI 213800X95NVTAAWYB404
==== ============================= =========================================
3. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
==== ========================================================================
a) Description Share Options over Ordinary Shares
of the financial of 0.2p
instrument
==== ============================= =========================================
b) Nature of Grant of options under the Manx
the transaction Telecom PLC 2017 Long-Term Incentive
Plan
==== ============================= =========================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================= ==================== ===================
Nil 153,710
======================================================= ===================
d) Aggregated 153,710 Share Options over Ordinary
information Shares of 0.2p
Aggregated
volume Price
Nil consideration
==== ============================= =========================================
e) Date of the 7(th) July 2017
transaction
==== ============================= =========================================
f) Place of the Outside a trading venue
transaction
==== ============================= =========================================
1. Details of PDMR / person closely associated
with them ('PCA')
==== ========================================================================
a) Name Danny Bakhshi
==== ============================= =========================================
b) Position / Chief Financial Officer
status
==== ============================= =========================================
c) Initial notification Initial Notification
/ amendment
==== ============================= =========================================
2. Details of the issuer
==== ========================================================================
a) Name Manx Telecom plc
==== ============================= =========================================
b) LEI 213800X95NVTAAWYB404
==== ============================= =========================================
3. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
==== ========================================================================
a) Description Share Options over Ordinary Shares
of the financial of 0.2p
instrument
==== ============================= =========================================
b) Nature of Grant of options under the Manx
the transaction Telecom PLC 2017 Long-Term Incentive
Plan
==== ============================= =========================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================= ==================== ===================
Nil 111,307
======================================================= ===================
d) Aggregated 111,307 Share Options over Ordinary
information Shares of 0.2p
Aggregated
volume Price
Nil consideration
==== ============================= =========================================
e) Date of the 7(th) July 2017
transaction
==== ============================= =========================================
f) Place of the Outside a trading venue
transaction
==== ============================= =========================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
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