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Transactions by persons discharging managerial responsibilities and their connected persons in accordance with DTR 3.1.4R(1)
RELEASE OF SHARES PURSUANT TO THE 1998 SENIOR EXECUTIVE LONG TERM INCENTIVE PLAN
The Company notifies that 776,734 ordinary shares of 10p each in the share capital of the Company ("Shares") have been released to Ulf C I Henriksson, a PDMR, on 22 July 2009, following vesting of an award granted under the 1998 Senior Executive Long Term Incentive Plan on 22 July 2005. Mr Henriksson is not required to make any payment for these Shares.
The original award was granted over a maximum of 1,643,534 Shares and, under the terms of the performance target (which primarily related to the Company's TSR relative to a basket of 12 global comparators over a three-year performance period), vested as to 94.52% of the Shares under award. Consequently 50% of the Shares vesting were released on 28 July 2008 with the balance now eligible for release following a one year retention period.
These Shares were allotted on 22 July 2009 to the trustee of the Invensys No. 2 Employee Benefit Trust ("the Trust").
On 22 July 2009, 319,417 Shares were sold at 248.69p per Share to meet Mr Henriksson's tax liabilities on the Shares which were released. Also, on 22 July 2009, Mr Henriksson sold 457,317 of the remaining Shares at 248.69p 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: 23 July 2009
This information is provided by RNSThe company news service from the London Stock ExchangeENDRDSPUUPWMUPBGPW