Director/PDMR Shareholding
(Thomson Reuters ONE) -
Novae Group plc
Director / PDMR shareholding
The executive directors of Novae Group plc ("the Company" or "the Group")
increased their aggregate interests in £1.00 Ordinary shares in the Company
("Shares") on 9 March 2010. As a result, the executive directors' aggregate
interests are now 3,175,633 Shares representing 4.337% of the Company's issued
ordinary share capital.
2009 Bonus taken in Shares
The executive directors have each elected to receive their entire 2009 bonus in
Shares (the "2009 Bonus Shares"). Half of the Shares awarded are subject to an
obligation to return them to the Company in the event of a director leaving the
Group as a "bad leaver" at any point prior to 9 March 2013. The balance
returnable declines annually by one third over that period. The Shares received,
net of those disposed of to meet Tax and NIC obligations, are shown in the table
below.
Net increase in beneficial interests
The 2009 Bonus Shares are subject to income tax at the recipient's marginal rate
of 40% ("Tax") and employee's National Insurance contributions ("NIC") at 1% on
the value of the Shares. The Shares sold to cover Tax and NIC were sold on 9
March 2010 at £3.07 per Share.
+-----------+---------+------+-----------+-----------+---------+------+
|Name |Aggregate|% |2009 |2009 |Aggregate|% |
| |interest | |Bonus |Bonus | interest| |
| |b/fwd | |received in|received in| c/fwd| |
| | | |Shares |Shares | | |
| | | | |net of Tax | | |
| | | | |and NIC | | |
| | | | | | | |
+-----------+---------+------+-----------+-----------+---------+------+
| JR Adams| 581,874|0.795%| 35,134| 20,729| 602,603|0.823%|
+-----------+---------+------+-----------+-----------+---------+------+
|ORP Corbett| 387,350|0.529%| 37,162| 21,925| 409,275|0.559%|
+-----------+---------+------+-----------+-----------+---------+------+
| MK Fosh| 887,540|1.212%| 45,944| 27,106| 914,646|1.249%|
+-----------+---------+------+-----------+-----------+---------+------+
| PC Matson| 586,878|0.802%| 35,134| 20,729| 607,607|0.830%|
+-----------+---------+------+-----------+-----------+---------+------+
| AM Nichols| 623,006|0.851%| 31,350| 18,496| 641,502|0.876%|
+-----------+---------+------+-----------+-----------+---------+------+
Employee Benefit Trust holdings
On 9 March 2010 the Trustee notified the Company that there was a net reduction
of 305,525 Shares held in the trust following the payment in Shares of the 2009
Bonus Shares. Following these transactions, the Trustee holds a total of
256,576 Shares, representing 0.350% of the Company's issued Ordinary share
capital. The executive directors of the Company, together with other employees,
are potential beneficiaries under the trust and are therefore treated as having
an interest in such Shares.
For further enquiries:
MJ Turvey
Group Legal Counsel and Company Secretary
020 7903 7300
[HUG#1392618]
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Datum: 10.03.2010 - 10:48 Uhr
Sprache: Deutsch
News-ID 1011184
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"Director/PDMR Shareholding
"
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