Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Management Responsibilities
("PDMRs")
The Company announces the following transactions by a PDMR in the Company's ordinary 5p shares ("Shares").
Award Exercise and Associated Sale of Shares
An award granted in 2010 under the Company's 2004 Performance Share Plan ("PSP"), which vested on 24 June 2013, was exercised on 4 July 2013. The award was a right to acquire Shares for nil consideration, subject to the rules of the PSP and to performance targets (relative total shareholder return and a financial underpin). Details of the award exercised by David Graham, a Person Discharging Managerial Responsibilities ("PDMR"), are set out below.
The exercise of the award was satisfied by the transfer of the relevant number of Shares from the Company's Employee Benefits Trust.
Individuals who exercise awards under the PSP are required to discharge the corresponding tax liabilities. David Graham has sold sufficient Shares to cover the tax liabilities, along with selling a number of additional Shares for cash. Of the remainder, 60,000 Shares have been kept by him and 40,000 transferred to his spouse. Details of these dealings are as follows;
|
PDMR |
Date of Exercise |
Aggregate Number of Shares Acquired on Exercise of PSP Award |
Date of Sale |
Number of Shares Sold |
Average Sale Price |
|
David Graham |
4 July 2013 |
285,468 |
4 July 2013 |
185,468 |
£0.617500 |
The above notification is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4.
Enquiries:
James Blair
Group Company Secretary
Speedy Hire Plc
Telephone: 01942 720000