STT Straight

 

TIDMSTT 
 
RNS Number : 1580S 
Straight PLC 
06 September 2010 
 

Date:                           6 September 2010 
On behalf of:               Straight plc ("Straight" or "the Group") 
For release at 0800hrs 
 
Straight plc 
 
Directors/PDMRs' Conditional Share Awards 
 
Straight plc the recycling and products and services group announces that on 6 
September 2010, in accordance with the rules of the Company's Unapproved Share 
Scheme (the "Scheme"), the Company made contingent share awards of ordinary 
shares in the Company ("Ordinary Shares"). 
 
 The awards comprise a maximum conditional award of Ordinary Shares subject 
to the rules of the Scheme and the applicable performance target.  Awards were 
made as follows: 
 
 
James Mellor   Finance Director and Company Secretary 
 200,000 
 
 
Mark Halford    Operations Director 
200,000 
 
 The contingent share awards are only capable of vesting if the 
performance targets the Remuneration Committee have attached to the awards are 
satisfied.  The awards shall not be aggregated with existing shareholdings of 
the above-mentioned PDMRs unless and until the awards vest which at the earliest 
will be 6 September 2013. 
 
The Company also announces that application has been made for 400,000 Ordinary 
Shares to be admitted to trading on the AIM market of the London Stock Exchange 
("Admission"). The new Ordinary Shares are being issued in connection with the 
above contingent share awards made under the Scheme. 
 
The new Ordinary Shares rank pari passu with the Company's existing Ordinary 
Shares and Admission is expected to become effective on 7 September 2010. 
 
Following Admission, the Company will have 11,899,294 Ordinary Shares in issue 
with each share carrying the right to one vote. The total number of voting 
rights in the Company will therefore be 11,899,294. 
 
There are no shares held in Treasury. 
 
                                     -ends- 
 
For further information, please contact 
 
+----------------------------------------+----------------------+ 
| Straight plc                           |                      | 
+----------------------------------------+----------------------+ 
| Jonathan Straight, Chief Executive     | 0113 245 2244        | 
+----------------------------------------+----------------------+ 
|                                        |                      | 
+----------------------------------------+----------------------+ 
| Cenkos Securities plc                  |                      | 
+----------------------------------------+----------------------+ 
| Ivonne Cantu/Christian Hobart          | 0207 397 8980        | 
|                                        |                      | 
+----------------------------------------+----------------------+ 
| Redleaf Communications                 |                      | 
+----------------------------------------+----------------------+ 
| Rebecca Sanders-Hewett/Lucy Salaman    | 0207 566 6720        | 
+----------------------------------------+----------------------+ 
 
 
Notes to Editors 
 
* Straight plc is the UK's leading supplier of specialist kerbside recycling 
containers as well as being a key supplier of a broad range of waste and 
recycling container solutions. Founded in 1993 by the current Chief Executive, 
Jonathan Straight, the business has since supplied more than 20 million kerbside 
boxes, baskets and caddies to local authorities across the UK, securing its 
position as the industry leader. 
* The business operates through two divisions. The core Trade Business supplying 
products in bulk to local authorities, utilities, the waste industry, retailers 
and other businesses and the Retail Business supplying a range of proprietary 
environmentally friendly consumer products directly to the public, often in 
partnership with a local authority or a utility. 
* In 2010 two acquisitions changed the business model, which previously relied 
on outsourced manufacture. In March 2010 Straight acquired the business and 
assets of the UK business of Helesi plc giving it a proprietary position in the 
wheeled bin market. This was followed in August 2010 by the acquisition of 
Powell Plastics, a key supplier of injection moulded products to the group. 
* In February 2009, Straight added to its portfolio with the acquisition of 
Harcostar Garden Products, a long established premium brand consisting of water 
butts, compost bins, watering cans and accessories. This gained new distribution 
channels for the business in the UK and in Europe. 
* In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of 
home composters and water butts. Through the Blackwall brand, Straight has 
delivered more than 3.5 million compost bins and water butts. 
* Almost 2/3 of the products supplied are produced in Straight's own factory and 
there are plans to expand this facility in the near future. 
* Straight plc has established diverse overseas sales channels for its products, 
some of which are manufactured locally to their markets in North America and in 
Australia. Other markets are serviced from UK production. 
* Further information about the company and its products can be found at: 
www.straight.co.uk 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSSSFFIDFSSESU 
 

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