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Transactions by persons discharging managerial responsibilities and their connected persons in accordance with DTR 3.1.4R(1)
GRANT OF CONDITIONAL SHARE AWARDS
Invensys plc ("the Company") wishes to notify the following changes in the interests of persons discharging managerial responsibility ("PDMRs") in ordinary shares ("Shares") arising out of the grant of conditional awards of Shares ("Awards") under the 2007 Long Term Incentive Plan.
On 24 June 2009 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 |
|
Ulf Henriksson |
750,366 |
|
Wayne Edmunds |
343,155 |
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 24 June 2012.
RELEASE OF SHARES PURSUANT TO THE 1998 SENIOR EXECUTIVE LONG TERM INCENTIVE PLAN
The Company further notifies that 125,372 ordinary shares of 10p each in the share capital of the Company ("Shares") have been released to Ulf C I Henriksson, a PDMR, on 25 June 2009, pursuant to a grant made on 24 June 2004 under the terms of the 1998 Senior Executive Long Term Incentive Plan. Mr Henriksson is not required to make any payment for these Shares.
Under the terms of the performance target (which primarily related to the Company's TSR compared against a comparator group of the constituents of the FSTE 250 Index as at date of grant over a three-year performance period), the award vested as to 37% of the Shares under award. Following the end of the performance period, the award was subject to a further two year retention period.
These Shares were allotted on 25 June 2009 to the trustee of the Invensys No. 2 Employee Benefit Trust ("the Trust").
On 25 June 2009, 51,403 Shares were sold at 223.94p per Share to meet Mr Henriksson's tax liabilities in respect of the Shares which vested under the Long Term Incentive Plan. Also, on 25 June 2009, Mr Henriksson sold 73,969 of the remaining Shares at 223.94p per share.
Following these transactions Mr Henriksson's total holding is 1,152,606 Shares (representing 0.14 % of the issued ordinary share capital of the Company)
Name of contact and telephone number for queries: Steve Devany, Head of Corporate Communications 020 7821 3758
Name of Company Official responsible for making notification: Kelly Newman, Secretarial Assistant
Date of notification: 25 June 2009