Director/PDMR shareholding

Tagged in: RNS Announcements
STV Group plc (the “Company”) announces the release of Deferred Bonus Shares and Bonus Shares to its Executive Directors. The shares awards are made pursuant to the STV Group plc Discretionary Performance Related Bonus Plan and the performance criteria were based on a combination of attainment of financial performance targets (75%) and individual performance targets (25%). The financial performance measures were Group PBT; Operating Profit and EPS.

Bonus payments were triggered in 2010 as a result of strong financial performance delivered against the financial performance targets relating to the bonus plan, all of which were met in full. As a result, bonus payments at 75% of bonus potential maximum were earned and under the rules of the plan, payments were to be made in three tranches, this being the second.  This is being released as the performance conditions in the bonus plan related to 2011 performance have been met.

Bonus payments were triggered in 2011 in respect of the individual performance targets only.  As a result, bonus payments at 12.5% of bonus potential maximum (15% of base salary) have been earned.

Accordingly, on 2 April 2012 the undernoted became the legal and beneficial owners of the following ordinary shares of 50p each in the Company: the 2010 Deferred Bonus Award shares at a price of 124p   per share and the 2011 Bonus Award shares at a price of 83.5p per share.

The Sale Shares were sold at a price of 117p per ordinary share of 50p each, being the mid-market price at the time of the disposal. The Sale Shares were disposed of by Directors to cover tax, national insurance and associated costs of the Bonus Awards. 
  2010 Deferred Bonus Award 2011 Bonus Award Total Shares issued Shares        Sold Shares retained
Rob Woodward  114,919 71,107 186,026 89,903 96,123
George Watt 67,778 40,018 104,796 50,653 54,143
  Total holding of Ordinary Shares %
Rob Woodward 298,802 0.77%
George Watt 199,592 0.51%

Jane E A Tames
Company Secretary
STV Group plc
0141 300 3074