DELTA PLC
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Delta plc announces the following transactions by PDMRs in the Company's ordinary shares of 25p each ("Shares").
On 10 March 2010 vested options (structured as market value options) and vested awards (structured as nil cost options) were exercised under the terms of, and pursuant to, the rules of certain Delta share-based compensation schemes. Details of the exercised options and awards are set out below.
Following exercise and in lieu of the issue or transfer of Shares to satisfy the options and awards, cash payments were made calculated using a value of 185p per Share, the price offered by Valmont Industries Inc.
Delta Deferred Bonus Plan 2007
Director
No. of Shares
Cash Settlement
Todd Atkinson 117,086 £216,610
1999 Executive Share Option Scheme ("ESOS")
Director
No. of Shares
Option Price
Cash Settlement
Todd Atkinson 80,000 150p £28,000
The vesting of Todd Atkinson’s ESOS option was subject to the satisfaction of a performance conditions based on earnings per share growth targets over a three year performance period and the achievement of absolute earnings per share of at least 20p, which were satisfied.
Delta Performance Share Plan (“PSP”)
Director
No. of Shares
Cash Settlement
Jon Kempster
140,280 £259,518
The vesting of Jon Kempster’s PSP award was subject to the satisfaction of a condition based upon the Company's total shareholder return relative to the total shareholder return of the constituents of the FTSE SmallCap Index (excluding investment trusts), which was satisfied. Under the rules of the PSP, Jon Kempster was also paid a dividend equivalent of £28,697 (structured as a cash-based dividend equivalent) which is a cash amount equivalent to the dividends that were paid in respect of the Shares comprised in the PSP award over the vesting period.
The notification of these transactions is intended to satisfy the Company’s obligations under Disclosure and Transparency Rule 3.1.4.
Enquiries:
Neil Swan, Director of Corporate Services
Tel: +44 (0) 207 842 6050