Tate & Lyle PLC
Tate & Lyle PLC (the “Company”) announces that in accordance with the incentive arrangements relating to the recruitment of Jim Stutelberg, President, Bulk Ingredients (who joined the Company on 1 December 2014) a grant of conditional awards over the Company’s ordinary shares of 25 pence each in the capital of the Company (“Shares”) was made to him today as follows:
|Award name||No. of Shares||Vesting Date|
|Restricted Share Award||42,121||31 December 2016|
|Performance Share Plan Award (“PSP”)||108,817||After 31 March 2017|
The PSP Award is subject to the performance conditions that apply to awards made under the Performance Share Plan 2012 during the year ending 31 March 2015 and accordingly will only vest to the extent that these performance conditions are satisfied by the Company over a three-year performance period which runs from 1 April 2014 to 31 March 2017.
This notification is made in accordance with DTR 3.1.4R(1)(a) of the FCA’s Disclosure and Transparency Rules.
5 December 2014