• 10 December 2014

Grant of Share Awards

Waterman announces that, following a recommendation of the company’s Remuneration Committee (the “Remuneration Committee”), the company granted on 9th December 2014 share option awards (the “Awards”) to the Executive directors and other PDMR’s of the Company over 1,600,000 Ordinary shares of 10p each in the Company (the “Ordinary Shares”).

The Awards have been granted in accordance with the terms of the Waterman Long Term Incentive Plan as approved at the Annual General Meeting held on 5th December 2014 and as set out in the Chairman’s Letter to Shareholders dated 29th October 2014.

The Awards to the Executive directors are as follows:

Nicholas Taylor640,000 ordinary shares
Alex Steele320,000 ordinary shares
Craig Beresford320,000 ordinary shares

The Award to the PDMR is as follows:

Neil Humphrey320,000 ordinary shares

In accordance with the rules of the LTIP, the Awards have been granted in the form of a conditional allocation of Ordinary shares with a nil cost exercise price. Vesting is subject to the achievement of challenging and stretching performance conditions relating to the achievement of the share price threshold targets for the Ordinary shares shown below:

Performance Threshold (Ordinary share price, closing mid-market price, for 25 consecutive trading days) Percentage of Award vesting for Executive Directors and PDMR
£1.50 or above100%
£1.40 or above80%
£1.25 or above50%
£1.15 or above40%
£1.00 or above25%
Less than 1.00nil

Awards will vest in whole or in part between the third anniversary of the date of grant and the fifth anniversary of the date of grant based on the achievement of the share price thresholds set out above. Vested awards may not normally be exercised until the later of the third anniversary of the date of grant and twelve months following the date on which a particular share price target is met. Any vested but unexercised awards will lapse on the 10th anniversary of the date of grant.
This notification is issued in accordance with DTR 3.1.2 R.


For further information please contact:

  • Waterman Group Plc
    Nick Taylor, Chief Executive
    Alex Steele, Chief Finance Officer
    +44 20 7928 7888

  • Broker Profile
    Simon Courteney
    Harry Rippon
    Harriet Jackson
    +44 20 7448 3244

  • N+1 Singer
    Sandy Fraser
    +44 20 7496 3176