Director Shareholding
2003年5月19日 - 8:14PM
RNSを含む英国規制内ニュース (英語)
RNS Number:2545L
UK Coal PLC
19 May 2003
19 May 2003
UK COAL PLC
NOTIFICATION OF DIRECTORS' INTERESTS
UK COAL plc (the Company) wishes to notify the following changes in Directors'
interests arising out of the maturity of awards under its Long Term Incentive
Plan (LTIP).
The performance period for these awards was the three financial years 2000-2002.
On 19 May 2003, the following ordinary shares in the Company (Shares) were
transferred to the Directors named below who have exercised their right under
the LTIP rules to receive Shares awarded in May 2000. The total shareholder
return over the performance period was 141% resulting in the vesting of 91% of
the Shares under awards. In connection with the vesting of the awards, the
Trustee of the UK Coal Employee Share Trust (the Trust) has in accordance with
the rules adjusted the number of Shares under awards to take account of
reinvestment of dividends paid over the period 2000 - 2002 inclusive. The result
of this adjustment has been to increase the number of Shares under each award by
60.7%. The adjusted number of Shares available to participants is as set out
below:
Name of Director No of Shares
G A McPhie 454,044
P S O'Brien 377,876
M Garness 377,876
The rules require that sufficient shares are sold to discharge the PAYE tax
liability on the Shares released. In consequence, the Shares set out in the
second column below were sold on 16 May 2003 at a price of 84p per Share,
leaving the after-tax number of Shares set out the final column below:
Name of Director No of Shares Sold No of Shares Retained
G A McPhie 186,158 267,886
P S O'Brien 154,929 222,947
M Garness 154,929 222,947
As a result of the transactions referred to above, the Executive Directors are
interested in the following Shares (excluding Shares to which they may become
entitled, subject to satisfaction of any relevant conditions, under the rules of
the LTIP and Bonus Share Matching Plan):
Name of Director No of Shares
G A McPhie 449,985
P S O'Brien 381,126
M Garness 351,293
The Trust holds a total of 96,110 Shares, representing 0.07% of the Company's
issued share capital (excluding the Shares held as nominee for Executive
Directors under the Bonus Share Matching Plan). The Executive Directors are
deemed for Companies Act purposes to be interested in all these Shares held by
the Trust.
M Garness
Director & Company Secretary
This information is provided by RNS
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