VEDANTA RESOURCES PLC
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons- Grant of Forfeitable Shares Awards
This notification is made in accordance with DTR 3.1.4(1)(a).
On , Mr Anil Agarwal and Mr have been granted forfeitable shares awards over ordinary shares of each in (the 'Company') under the Vedanta Resources Deferred Share Bonus Plan 2015, as follows:
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Name of PDMR
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Number of Shares granted under Forfeitable Shares Awards
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Anil Agarwal
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68,661
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|
Navin Agarwal
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60,362
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No consideration has been paid for the grant of the awards of forfeitable shares.
The awards were granted in respect of annual bonuses earned for the Financial Year ended .
Subject to the executive continuing to be a director or employee in the group of companies, the shares held under the forfeitable shares awards shall normally cease to be subject to restrictions and at risk of forfeiture ('vest') on the dates and over the proportions of shares set out below.
(a) Awards to Mr Anil Agarwal shall normally vest over the proportions of shares and on the dates set out below:
1. 40% of the total number of shares held shall vest on ;
2. 30% of the total number of shares held shall vest on ; and
3. 30% of the total number of shares held shall vest on ; and
(b) Awards to Mr shall normally vest over the proportions of shares and on the dates set out below:
1. 40% of the total number of shares held shall vest on ;
2. 30% of the total number of shares held shall vest on ; and
3. 30% of the total number of shares held shall vest on .
The forfeitable shares will be held by and on behalf of the executive by , acting as the executive's nominee (the 'Nominee'). On vesting, the Nominee will transfer legal ownership of the shares to the executive.
The number of shares over which awards were granted was calculated by reference to, in the case of Mr Anil Agarwal, the average middle market quotation of a share over the five dealing days immediately following the date of announcement of the Company's results for the 2014/2015 financial year on and, in the case of the shares awarded to Mr , the average middle market quotation of a share over the five dealing days immediately before the date of payment of his cash bonus on .
The Company was informed of the above transactions on .
For any queries in respect of the above, please contact:
Tel: 020 7459 5900
, Company Secretary