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Ann: RELINT: DOW: Change in Director's Intere

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    • Release Date: 20/03/13 10:30
    • Summary: RELINT: DOW: Change in Director's Interest Notice
    • Price Sensitive: No
    • Download Document  7.17KB
    					
    
    DOW
    20/03/2013 08:30
    RELINT
    
    REL: 0830 HRS Downer EDI Limited
    
    RELINT: DOW: Change in Director's Interest Notice
    
    Appendix 3Y
    
    Change of Director's Interest Notice
    
    Information or documents not available now must be given to ASX as soon as
    available.  Information and documents given to ASX become ASX's property and
    may be made public.
    Introduced 30/09/01  Amended 01/01/11
    
    Name of entity Downer EDI Limited
    ABN  97 003 872 848
    
    We (the entity) give ASX the following information under listing rule 3.19A.2
    and as agent for the director for the purposes of section 205G of the
    Corporations Act.
    
    Name of Director Grant Anthony Fenn
    Date of last notice 29 June 2012
    
    Part 1 - Change of director's relevant interests in securities
    In the case of a trust, this includes interests in the trust made available
    by the responsible entity of the trust
    
    Note: In the case of a company, interests which come within paragraph (i) of
    the definition of "notifiable interest of a director" should be disclosed in
    this part.
    
    Direct or indirect interest Indirect
    Nature of indirect interest
    (including registered holder)
    Note: Provide details of the circumstances giving rise to the relevant
    interest.
     1,291,262 held by CPU Share Plans Pty Ltd (Trustee of the Downer EDI Limited
    Deferred Employee Share Plan)
    Date of change 12 March 2013
    No. of securities held prior to change 265,102 ordinary shares.
    
    In addition, the following share grants have been made to Mr Fenn under the
    long term incentive plan. These shares were acquired by the company under the
    plan. None of the shares below have met either the performance or service
    hurdle outlined below (other than tranche 1 of the 2009 plan comprising
    80,959 shares).
    
    Mr Fenn has a relevant interest through being able to direct the trustee to
    vote the shares until they are transferred from the trust following vesting
    or are forfeited.
    
    No. of securities held prior to change (continued) 1,186,336 ordinary shares
    comprising of:
    
    1. 2009 LTI Plan
    145,725 ordinary shares.
    The grant comprises three tranches of 80,959, 64,767 and 64,766 shares with a
    performance condition of meeting a relative TSR hurdle for the period that is
    ten trading days after the announcement of the 2008 half year results to ten
    trading days after announcements of the half year results for the periods
    ended 31 December 2009, 31 December 2010 and 31 December 2011 respectively. A
    single re-test is available for each tranche.
    A continued employment condition applies to each tranche and requires Mr Fenn
    to remain employed at 31 December 2010, 31 December 2011 and 31 December 2012
    respectively. The first tranche met both the performance and service
    conditions and the Board approved vesting of the 64,767 shares on 25 February
    2011. The second tranche failed to meet the performance condition over either
    the initial or extended performance period and was forfeited. The third
    tranche failed to meet the initial performance condition and is subject to a
    single re-test over an extended performance period to the period ten trading
    days after announcement of the half year results for the period ended 31
    December 2012.
    2. 2010 LTI Plan
    95,410 ordinary shares, comprising two tranches of 47,705 shares each. One
    tranche has a relative TSR performance hurdle for the three years to 31
    December 2012. The other tranche has a compound annual EPS growth rate
    performance hurdle for the three years to 31 December 2012. A continued
    employment condition to 31 December 2013 applies to both tranches.
    3. 2011 LTI Plan
    480,205 ordinary shares, comprising two tranches of 240,102.5 shares each.
    One tranche has a relative TSR performance hurdle for the three years to 31
    December 2013. The other tranche has a compound annual EPS growth rate
    performance hurdle for the three years to 31 December 2013. A continued
    employment condition to 31 December 2014 applies to both tranches.
    No. of securities held prior to change (continued) 4. 2012 LTI Plan
    464,996 ordinary shares, comprising two tranches of 232,498 shares each. One
    tranche has a relative TSR performance hurdle for the three years to 31
    December 2014. The other tranche has a compound annual EPS growth rate
    performance hurdle for the three years to 31 December 2014. A continued
    employment condition to 31 December 2015 applies to both tranches.
    
    Class Ordinary
    Number acquired Nil
    Number disposed 160,176 shares granted to Mr Fenn under the LTI Plan (2009
    tranche 3 - 64,766 and 2010 - 95,410) have not met the relevant performance
    hurdles and the shares have been forfeited.
    Value/Consideration
    Note: If consideration is non-cash, provide details and estimated valuation
     Not applicable
    No. of securities held after change 346,061 ordinary shares.
    
    In addition, the following share grants have been made to Mr Fenn under the
    long term incentive plan. These shares were acquired by the company under the
    plan. None of the shares below have met either the performance or service
    hurdle outlined below.
    
    Mr Fenn has a relevant interest through being able to direct the trustee to
    vote the shares until they are transferred from the trust following vesting
    or are forfeited.
    
    945,201 ordinary shares comprising of:
    
    1. 2011 LTI Plan
    480,205 ordinary shares, comprising two tranches of 240,102.5 shares each.
    One tranche has a relative TSR performance hurdle for the three years to 31
    December 2013. The other tranche has a compound annual EPS growth rate
    performance hurdle for the three years to 31 December 2013. A continued
    employment condition to 31 December 2014 applies to both tranches.
    
    2. 2012 LTI Plan
    464,996 ordinary shares, comprising two tranches of 232,498 shares each. One
    tranche has a relative TSR performance hurdle for the three years to 31
    December 2014. The other tranche has a compound annual EPS growth rate
    performance hurdle for the three years to 31 December 2014. A continued
    employment condition to 31 December 2015 applies to both tranches.
    
    Nature of change
    Example: on-market trade, off-market trade, exercise of options, issue of
    securities under dividend reinvestment plan, participation in buy-back
    160,176 shares granted to Mr Fenn under the LTI Plan (2009 tranche 3 - 64,766
    and 2010 - 95,410) have not met the relevant performance hurdles and the
    shares have been forfeited.
    
    Part 2 - Change of director's interests in contracts
    
    Note: In the case of a company, interests which come within paragraph (ii) of
    the definition of "notifiable interest of a director" should be disclosed in
    this part.
    
    Detail of contract
    Nature of interest
    
    Name of registered holder
    (if issued securities)
    
    Date of change
    No. and class of securities to which interest related prior to change
    Note: Details are only required for a contract in relation to which the
    interest has changed
    
    Interest acquired
    Interest disposed
    Value/Consideration
    Note: If consideration is non-cash, provide details and an estimated
    valuation
    
    Interest after change
    
    Part 3 - +Closed period
    
    Were the interests in the securities or contracts detailed above traded
    during a +closed period where prior written clearance was required? No
    If so, was prior written clearance provided to allow the trade to proceed
    during this period?
    If prior written clearance was provided, on what date was this provided?
    End CA:00234316 For:DOW    Type:RELINT     Time:2013-03-20 08:30:13
    				
 
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