CABLE & WIRELESS COM 
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Cable & Wireless Communications Plc
Notification of transactions of Directors, Persons Discharging Managerial Responsibility (PDMR) or Connected Persons
This disclosure relates to transactions notified to Cable & Wireless Communications Plc ("the Company") in accordance with DTR 3.1.2R on 16 January 2013 and is given in accordance with DTR 3.1.4R(1)(a).
The Company was today notified that Computershare Trustees (Jersey) Limited, trustee of The Cable & Wireless Communications Share Ownership Trust (formerly the Cable and Wireless Employee Share Ownership Trust) ("the Trust") has undertaken transactions in the ordinary shares of the Company ("Shares") as set out below.
Performance Share Award
On 14 January 2013, a Performance Share Award over the number of Shares set out below was granted to each of the following Directors and PDMR under the Cable & Wireless Communications 2011 Performance Share Plan ("the Plan"):
Participant | Director/PDMR | Number of Shares |
Tony Rice | Director | 4,511,762 |
Tim Pennington | Director | 3,222,687 |
Nick Cooper | Director | 1,812,761 |
Clare Underwood | PDMR | 290,041 |
Vesting of the shares awarded will be subject to a combination of relative total shareholder return ("TSR") against a comparator group of predominately European telecommunications companies and earnings per share ("EPS") compound annual growth. Up to 50% of the award will vest subject to relative TSR performance against the comparator group. The performance period will be measured from 1st April 2012 and will use a one month averaging period prior to the beginning and the end of the 3 year period to measure TSR. The remaining 50% of the award will be subject to EPS compound annual growth with a range of 5% to 10% compound annual growth over 3 years. The share price for each award is £0.3103, being the average share price of the Company for the five business days commencing on 24 May 2012. ThePerformance Share Awards were granted in the form of option awards. Until such option is exercised, the shares awarded will continue to be held by the Trust. A Dividend Award Supplement will apply in accordance with the rules of the Plan. The consideration for the Performance Share Awards is £nil. |
Deferred Bonus Plan
On 14 January 2013, the number of Shares set out below were awarded to the following Directors in accordance with the rules of The Cable & Wireless 2011 Deferred Bonus Plan ("the Plan") and accordingly each Director's holding in the Company has increased by the specified number of Shares:
Participant | Director/PDMR | Number of Shares |
Tony Rice | Director | 1,259,333 |
Tim Pennington | Director | 878,412 |
Nick Cooper | Director | 642,666 |
Legal title to the Shares awarded will be held by the Trust and will not be transferred to each Director until the first anniversary of the date of award, subject to the rules of the Plan. The share price for each award is £0.3150, being the closing share price of the Company on 25 May 2012. The consideration for the awards disclosed above is £nil. |
Name of person making notification:Nicola Challen
Contact number:020 7315 4000
Date of notification:16 January 2013
This information is provided by RNS
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