Deffered Share Awards

Date: 28/02/14
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Molins PLC announces that a deferred share award of ordinary shares in the Company was made on 27 February 2014 by its Remuneration Committee, as a nil cost option under the rules of the Company's annual management incentive bonus scheme, to the following directors:

 

Director

Number of Ordinary

                

Shares of 25p each 

 

Mr D J Cowen                       

 

42,000

 

Mr R C Hunter

 

47,600

 

In order for the award to be realised the director must remain in employment for three years from the award date. The rights in the shares are deferred, such that any dividends and other distributions attaching to the shares between the date of the award and the realisation date do not form part of the award. In exceptional circumstances and at the Company's discretion, the Company may make a cash payment of a sum equivalent to the value of the shares that would otherwise vest.