RM plc announces that, on 29 February 2012, a conditional award of 250,000 shares in respect of ordinary 2p shares in the Company was made for nil consideration under the RM Performance Share Plan 2010 to Paul Fletcher, Person Discharging Managerial Responsibility.
The vesting of the award and the receipt of shares is subject to the satisfaction of the following performance conditions:
1. 50% of the shares awarded will vest if the closing mid-market share price exceeds 100 pence per share in 20 consecutive trading days at any point between the date of grant and 30 November 2015;
2. A further 50% of the shares awarded will vest if the share price achieves 125 pence per share or better in 20 consecutive trading days at any point between the date of grant and 30 November 2016; and
3. No award can vest before 2 December 2014.
Notes: the RM Performance Share Plan 2010 was approved by shareholders at the Company's AGM held on 18 January 2010.