TIDMTHT

RNS Number : 4206B

Thorntons PLC

17 February 2011

THORNTONS PLC

Notification of Director/PDMR Shareholding

Thorntons plc (the "Company") announces that Jonathan Hart, Chief Executive of the Company, has been granted market value options over ordinary shares in the capital of the Company as follows:

Grant Date: 16 February 2011

Period in which the option can be exercised: 16 February 2014 - 16 February 2021

Amount paid for grant of option: nil

Description of shares involved: Option over a maximum of 696,969 Ordinary shares of 10p

Exercise price: 99p per share

Total number of options following notification: 696,969

The award of the options is made pursuant to Listing Rule 9.4.2(2) to facilitate the recruitment of Jonathan Hart and will be satisfied by the transfer of existing shares. The options will normally vest on the third anniversary of the date of grant and are subject to the following performance conditions:

Provided that the Remuneration Committee is satisfied that the underlying financial performance of the Company is satisfactory, the Remuneration Committee will calculate the compound annual increase in absolute Total Shareholder Return (TSR) for the Company over the Performance Period before determining, in accordance with the table below, whether all or part of this Option has Vested:

 
 Compound Annual increase   Percentage of Option 
      in absolute TSR          that will Vest 
-------------------------  --------------------- 
           15%                      100% 
-------------------------  --------------------- 
           11%                      75% 
-------------------------  --------------------- 
            8%                      50% 
-------------------------  --------------------- 
       Less than 8%                  0% 
-------------------------  ---------------------

For TSR performance between these points, vesting will be calculated on a straight line interpolation rounded to the nearest whole share. For the avoidance of doubt none of the Performance Option shall vest if the Annualised TSR for the Company is less than 8%.

Contact: Mark R. Henson - Company Secretary Tel: 01773 542384

17 February 2011

This information is provided by RNS

The company news service from the London Stock Exchange

END

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