RNS Number : 7916D
Fiberweb Plc
21 May 2012
21 May 2012
Director / PDMR Holdings
Fiberweb plc (the "Company")
In accordance with its obligations under Disclosure Rule 3.1.4(R), the Company notifies that the following Nil-Cost Awards ("Awards") over the Company's ordinary shares of 5p each were made on 18 May 2012 to the Directors and PDMRs listed below under the Fiberweb Long-Term Incentive Plan (the "Plan").
As indicated below, an additional Award of 189,155 ordinary shares has been granted to Daniel Dayan, the Company's Chief Executive Officer. This additional Award is subject to the additional condition that the Company and Daniel Dayan agree and validly enter into a new employment contract on terms that are acceptable to and have been approved by the Remuneration Committee of the Board of Directors of the Company before 31 December 2012. Accordingly, the Award will not become a vested Award and it will lapse if this additional condition is not fulfilled by 31 December 2012. The Remuneration Committee intends to approve the terms of a new, updated employment contract which amongst other things excludes the right to payment for lost bonus opportunity on a termination of employment.
The Nil Cost Awards will vest on the third anniversary of the Award grant date or, if later, the date that the Remuneration Committee of the Company determines the extent to which the performance conditions attaching to such Awards have been satisfied.
Nil-Cost Awards will become exercisable by the Director/PDMR at nil-cost in accordance with the Plan Rules.
|
Name of Director/PDMR
|
No of Shares
|
Type of Award
|
|
Daniel Dayan
|
567,521
|
Nil Cost
|
|
Daniel Dayan
|
189,155
|
Nil Cost
|
|
Kate Miles
|
307,692
|
Nil Cost
|
|
Carsten Heldmann
|
163,893
|
Nil Cost
|
|
John Warner
|
160,000
|
Nil Cost
|
|
Alice Heezen
|
118,850
|
Nil Cost
|
No consideration is payable for the grant of Awards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSPGUAAAUPPGAG