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RNS Number : 3474O

Spirent Communications PLC

01 October 2019

SPIRENT COMMUNICATIONS PLC (the "Company")

1 October 2019

DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of Performance Share Awards under Spirent Long-Term Incentive Plan

The Company confirms that on 30 September 2019 the performance conditions attached to 292,683 Performance Shares awarded to Paula Bell on 30 September 2016 were tested, with the following results:

   50% of awards subject to EPS performance condition         78.625% vest 
   50% of awards subject to TSR performance condition         100% vest

As a result, 261,402 shares vested and became exercisable by Ms Bell. Performance Shares forming part of this award which did not vest have now lapsed.

Awards of Performance Shares under the Spirent Long-Term Incentive Plan are not tax approved and income tax and social security deductions become payable by the individual on vesting.

As a result of the vesting of these awards, the following transactions have taken place:

 
 1.   Details of PDMR / person closely associated 
      Name                            Paula Bell 
     ------------------------------  --------------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position / status               CFO 
     ------------------------------  --------------------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
     ------------------------------  --------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------- 
 a)   Full name of the entity         Spirent Communications plc 
     ------------------------------  --------------------------------------------- 
 b)   Legal Entity Identifier         213800HKCUNWP1916L38 
       Code 
     ------------------------------  --------------------------------------------- 
 4.   Details of the transaction(s) 
     ----------------------------------------------------------------------------- 
 a)   Description of the financial    Ordinary shares of 3&1/3 pence each 
       instrument 
 
       Identification code             GB0004726096 
     ------------------------------  --------------------------------------------- 
 b)   Nature of the transaction            (i) Exercise of shares arising from 
                                            Spirent Long-Term Incentive Plan at 
                                            nil-cost 
                                            (ii) Sale of shares in market to cover 
                                            tax and national insurance liabilities 
     ------------------------------  --------------------------------------------- 
 c)   Price(s) and volume(s)                   Price(s)       Volume(s) 
                                        (i)     GBP0.0000      261,402 
                                               -------------  ---------- 
                                        (ii)    GBP1.977400    123,182 
                                               -------------  ---------- 
     ------------------------------  --------------------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     n/a 
 
                                        n/a 
 
             *    price 
     ------------------------------  --------------------------------------------- 
 e)   Date of the transaction         30 September 2019 
     ------------------------------  --------------------------------------------- 
 f)   Place of the transaction        (i) Outside a trading venue 
                                       (ii) London 
     ------------------------------  ---------------------------------------------

Following this notification, the individuals listed above hold options over the following total number of shares:

 
 Director / PDMR    Total beneficial     Total number of shares 
                         interest in    over which options held 
                              shares 
 Paula Bell                  365,316                    858,339 
                   -----------------  -------------------------

Enquiries

Michelle Balch Spirent Communications plc +44 (0)1293 767676

Deputy Company Secretary

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END

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October 01, 2019 06:27 ET (10:27 GMT)

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