Directors Interests
10 Marzo 2003 - 8:30AM
UK Regulatory
RNS Number:4894I
UK Coal PLC
10 March 2003
UK COAL PLC
NOTIFICATION OF DIRECTORS' INTERESTS
UK COAL wishes to notify the following changes in directors' interests arising
out of the operation of its Bonus Share Matching Plan.
1. Bonus Share Matching Plan
Under the Bonus Share Matching Plan, executive directors are required to
purchase ordinary shares in the Company (Shares) with part of their annual
bonus. These Shares are held in trust. Participants are entitled to receive,
after tax thereon, one additional Share free of charge in return for every three
Shares left in trust for three years. Entitlement to the additional Shares is
normally lost if the participant leaves the Company's employment.
On 7 March 2003 the following Shares were purchased, at a price of #0.65 per
Share, with 50% of each executive director's bonus for 2002. These are held by
Mourant & Co Trustees Limited (The Trustee of UK COAL Employee Share Trust) (the
Trustee) as nominee for the director concerned.
DIRECTOR SHARES PURCHASED
G A McPhie 51,831
M Garness 29,338
P S O'Brien 29,738
In addition, the Trustee purchased a further 37446 Shares to satisfy potential
entitlements of executive directors to further Shares under this plan in three
years' time. The above executive directors are deemed for Companies Act
purposes to be interested in all the Shares held by UK COAL Employee Share
Trust.
2. Resultant Interest in Shares
As a result of the transactions referred to above, the executive directors are
interested in the following Shares (excluding Shares to which they may become
entitled, subject to satisfaction of any relevant conditions, under the rules of
the Long Term Incentive Plan and Bonus Share Matching Plan):
DIRECTOR TOTAL SHARE INTEREST
G A McPhie 182,089
M Garness 128,346
P S O'Brien 158,179
The UK COAL Employee Share Trust holds a total of 96110 Shares, representing
0.07% of the Company's issued share capital (excluding the shares held as
nominees for executive directors under the Bonus Share Matching Plan). The
executive directors are deemed for Companies Act purposes to be interested in
all the Shares held by UK COAL Employee Share Trust.
This information is provided by RNS
The company news service from the London Stock Exchange
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