Kingfisher PLC
04 February 2008
KINGFISHER PLC
DIRECTORS' INTERESTS
Kingfisher plc ("the Company") today announces that its new Group Chief
Executive, Ian Cheshire, purchased 268,924 ordinary shares at a price of 148p
each on Friday 1 February 2008. This purchase was made in line with the
conditions of his recruitment award detailed below.
Following this purchase the Company made a conditional recruitment award of
ordinary shares on 1 February 2008 in the following amounts under the
Performance Share Plan ("the PSP"). These have been granted as nil cost
options, and are made pursuant to Listing Rule 9.4.2.
The awards are as follows:
Beneficiary Shares Performance Vesting
Conditions Period
Ian Cheshire 1,114,206 Note 1 3 years
Ian Cheshire 1,114,206 Note 2 4 years
Note 1
TSR Performance Condition:
TSR at the end of the Percentage of the Award that
Performance Period Vests
Less than median plus 1 percentage
point Nil
Median plus 1 percentage point 15.625%
Between median plus 1 percentage
point and upper quintile plus 1 Straight-line vesting between
percentage point 15.625% and 100%
Upper quintile plus 1 percentage
point 100%
TSR performance will be measured relative to the FTSE 100 and averaged
over the one month immediately prior to the award. In order for any of
an award of shares subject to the TSR performance condition to vest, the
Company's TSR must be at least 1 percentage point above the median over the
relevant three year period (at which level of performance 15.625% of this
award will vest) and in order for all of this award to vest it must
increase by at least 1 percentage point above the upper quintile.
The end TSR will be calculated using the closing return indices over the
final one month of the performance period.
In addition, awards will only vest to the extent that the Committee is
satisfied that the Company's TSR over the period is reflective of
the underlying financial performance of the Company.
Note 2
Adjusted basic EPS Performance Condition *:
Adjusted basic EPS* at the end of the Percentage of the Award that Vests
Performance Period
Less than 15.9p Nil
15.9p 15.625%
Between 15.9p and 17.0p Straight-line vesting between 15.625% - 50%
17.0p 50%
Between 17.0p and 19.6p Straight-line vesting between 50% - 100%
19.6p 100%
The awards will be subject to the same rules as awards under the Performance
Share Plan.
* Before exceptional items, financing fair value re-measurements and acquisition
intangibles amortisation.
4 February 2008
Nick Folland,
Company Secretary
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