This notification is made in accordance with DTR 3.1.4R (1)(a).
1. PSP vesting
Awards made on 9th June 2006 under the SSL International plc Performance Share Plan 2005, having exceeded the performance targets, vested in full on 9th June 2009.
In satisfaction of these awards, the executive directors and other persons discharging managerial responsibility (together “PDMRs”) acquired ordinary shares of 10 pence in the Company (“Shares”), for nil consideration. On 12th June 2009, certain PDMRs sold some of those Shares. Details of the Shares acquired and sold are set out in the tables below:
Executive Directors:
|
Name |
Number of Shares acquired |
Number of Shares sold |
|
Garry Watts |
110,653* |
64,653# |
|
Mark Moran |
51,673* |
- |
|
Ian Adamson |
51,673* |
- |
Other PDMRs:
|
Name |
Number of Shares acquired |
Number of Shares sold |
|
Sheena MacKay |
25,836* |
25,836# |
|
Antony Mannion |
32,882* |
32,882# |
|
Peter Whitehurst |
23,487* |
23,487# |
|
Jon Gray |
50,514 |
50,514# |
|
Shaun Davis |
24,662* |
24,662# |
|
Roberto Veneziani |
29,245 |
9,245# |
|
Leigh Taylor |
13,750* |
13,750# |
*The number of Shares acquired was net of the liability for income tax and National Insurance that arose in connection with the vesting of the awards.
# The Shares were sold on the London Stock Exchange at a price of 501.11 pence per Share.
2. Exercise of Executive Options
On 9th June 2009 the following PDMRs exercised options over Shares. The exercises were in respect of the SSL 1996 Executive Share Option Scheme. On 12th June 2009, the Shares acquired were sold.
Details of these exercises and the subsequent sales of Shares are set out in the tables below:
Executive Directors:
|
Name |
Number of Shares exercised |
Exercise price per share |
Number of Shares sold |
|
Garry Watts |
98,305 |
295 pence |
98,305 |
|
Mark Moran |
145,630 |
309 pence |
145,630 |
|
Ian Adamson |
54,915 |
295 pence |
54,915 |
Other PDMRs:
|
Name |
Number of Shares exercised |
Exercise price per share |
Number of Shares sold |
|
Antony Mannion |
71,047 |
281.5 pence |
71,047 |
|
Jon Gray |
13,000 |
295 pence |
13,000 |
|
Leigh Taylor |
8,000 |
295 pence |
8,000 |
|
Leigh Taylor |
10,000 |
298.5 pence |
10,000 |
The Shares were sold on the London Stock Exchange at a price of 501.11 pence per Share.
3. Further Sale of Shares
On 12th June 2009, Sheena MacKay, a PDMR, but not a Director of the Company sold 22,777 Shares. The Shares were sold on the London Stock Exchange at a price of 501.11 pence per Share.
4. PDMR shareholdings
The Shareholdings of the PDMRS following the above transactions are set out below:
Executive Directors:
|
Name |
Number of Shares held prior to the transactions above |
Number of Shares now held |
|
Garry Watts |
104,613 |
150,613 |
|
Mark Moran |
48,489 |
100,162 |
|
Ian Adamson |
74,666 |
126,339 |
Other PDMRs:
|
Name |
Number of Shares held prior to the transactions above |
Number of Shares now held |
|
Sheena MacKay |
24,031 |
1,254 |
|
Antony Mannion |
0 |
0 |
|
Peter Whitehurst |
0 |
0 |
|
Jon Gray |
9,384 |
9,384 |
|
Shaun Davis |
1,587 |
1,587 |
|
Roberto Veneziani |
23,756 |
43,756 |
|
Leigh Taylor |
17,265 |
17,265 |
The Company was informed of the above transactions on 12th June 2009.
For and on behalf of SSL International plc
Maria Buxton-Smith
Company Secretary
Tel: 020 7367 5760
12th June 2009