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INVENSYS PLC
("the Company")
Transactions by persons discharging managerial responsibilities and their connected persons in accordance with DTR 3.1.4R(1)(a)
RELEASE OF SHARE AWARDS
Invensys plc ("the Company") notifies that 78,247 and 25,795 ordinary shares of 10p each ("Shares") were released (respectively) to Victoria Hull and David Thomas, both Directors of the Company, on 27 June 2012 following the exercise on 25 June 2012 of options granted under the Invensys 2007 Long Term Incentive Plan (LTIP) on 24 June 2009 that vested on 24 June 2012 ("the Awards"). The release comprises 74,944 and 24,707 Shares, together with 3,303 and 1,088 further Shares respectively, representing notional dividend reinvestment.
70% of the Shares under the Awards were subject to performance conditions relating to EPS growth and TSR performance. These performance conditions were measured over the three year performance period ended 31 March 2012. It has been determined that these performance conditions were not met and this element of Ms Hull's and Mr Thomas's Awards lapsed.
Ms Hull and Mr Thomas were granted the Awards prior to their appointment as directors of the Company and the performance conditions did not apply to the remaining 30% of the Shares under Award. The aggregate vesting of Shares under this Award was therefore 30%.
On 27 July 2012 Ms Hull and Mr Thomas sold 40,699 and 13,424 Shares respectively at £2.1381 to meet their tax liabilities.
Following these transactions Ms Hull's total holding is 341,942 Shares (representing 0.04% of the issued share capital. Mr Thomas' total holding is 376,030 Shares (representing 0.05% of the issued share capital).
GRANT OF CONDITIONAL SHARE AWARDS
The Company wishes to notify the following changes in the interests of persons discharging managerial responsibility ("PDMRs") in Shares arising out of the grant of conditional awards of Shares ("Awards") under the LTIP.
On 26 June 2012 Awards were granted to the following PDMRs, as set out below. The numbers of Shares stated are the maximum available to each PDMR on satisfaction in full of the performance targets applicable to the Award:
Name of PDMR
Shares under Award
Wayne Edmunds
585,995
Victoria Hull
306,520
David Thomas
324,551
Vesting of the Awards is conditional upon performance conditions (relating, inter alia, to the Company's Total Shareholder Return and the Compound Annual Growth Rate in the Company's Earnings Per Share) to be applied over a three year performance period. Subject to the performance conditions any Shares which vest will be released as soon as possible following 26 June 2015.
Name of contact and telephone number for queries: Steve Devany, Vice President - Communications 020 3155 1301
Name of Company Official responsible for making notification: Timothy Maw, Interim Company Secretarial Professional.
Date of notification: 28 June 2012
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