Director/PDMR Shareholding
DS Smith Plc (the "Company")
In pursuance of the Company's obligations under Disclosure Rule 3.1.4R (i)(a), the Company hereby notifies that the following Directors share transactions occurred on 16 July 2010.
1) On 16 July 2010, Miles Roberts received the following conditional rights to acquire ordinary shares of 10p each in the Company ("Shares") under an agreement made as part of his recruitment as Group Chief Executive of the Company.The agreement was made under Listing Rule 9.4.2(2).The awards are intended to compensate Miles Roberts for the loss of share incentives he was entitled to under his previous employment with McBride plc and to incentivise him in the future.
|
Award |
No. of Shares under award |
Vesting Date |
||
|
Replacement deferred shares award |
106,685 |
1 September 2012 |
||
|
Substitute share bonus award |
80,014 |
1 September 2013 |
||
|
Replacement 2007 LTIP award |
224,039 |
10 October 2010 |
||
|
Replacement 2008 LTIP award |
432,432 |
17 October 2011 |
||
|
Recruitment award |
570,768 |
19 October 2012 |
||
The replacement deferred shares award and the substitute bonus award are subject to substantially the same terms as the Company's Deferred Share Bonus Plan. The replacement 2007 LTIP award and the replacement 2008 LTIP award are subject to substantially the same terms as the McBride plc 2005 Long-Term Incentive Plan with the replacement 2008 LTIP award being subject to a three year performance condition. The recruitment award is subject to substantially the same terms as the awards made under Company's 2008 Performance Share Plan in 2009, including the performance conditions.
No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.
Miles Roberts notified the Company of the awards described above on 16 July 2010.
2) Steve Dryden notified the Company on 16 July 2010 that, as a result of being granted an award under the DS Smith Deferred Share Bonus Plan (the "Bonus Plan"), he has acquired a conditional right to receive the number of Shares set out below.
The award under the Bonus Plan referred to above will normally vest on the third anniversary of the date of grant, being 16 July 2013.
|
Date of Grant |
No. of Shares |
Market Price at Date of Award |
|
16 July 2010 |
58,710 |
1.4052 pence |
No consideration was paid for the grant of the award. No price is payable on the vesting of the award.
3) The Directors listed below notified the Company on 16 July 2010 that, as a result of being granted an award under the DS Smith Performance Share Plan (the "Performance Share Plan"), they have each acquired a conditional right to receive the number of Shares listed below.
The awards were granted by reference to the closing middle market quotation of a Share on 15 July 2010 of 140.6 pence, and operate subject to the conditions set out in the rules of the Performance Share Plan.They will normally vest, subject to the satisfaction of performance conditions, on the third anniversary of the date of grant, being 16 July 2013.
|
Director |
Date of Grant |
No. of Shares |
|
Miles Roberts |
16 July 2010 |
570,768 |
|
Steve Dryden |
16 July 2010 |
352,062 |
No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.
For and on behalf of DS Smith Plc
Company Official Responsible for making this notification:
Carolyn Cattermole, Company Secretary
Date of this notification: 16 July 2010