Balfour Beatty PLC Director/PDMR Shareholding (1038J)
March 27 2018 - 6:46AM
UK Regulatory
TIDMBBY
RNS Number : 1038J
Balfour Beatty PLC
27 March 2018
Notification of transactions by Persons Discharging Management
Responsibilities ("PDMRs") or Connected Persons
Balfour Beatty plc (the "Company") was informed on 27 March 2018
by the Trustee of the Balfour Beatty Employee Share Ownership Trust
(the "Trust") that on 27 March 2018 each of the following PDMRs
received an award over the number of Ordinary Shares of 50p each
("Ordinary Shares") in the Company as shown below pursuant to the
rules of the Company's Performance Share Plan:
Directors: (Name: Number of Ordinary Shares under award)
Leo Quinn 592,373
Philip Harrison 259,163
No consideration was paid for the grant of the awards and no
consideration is due on the maturity of the awards.
The awards will normally vest on the third anniversary of grant
subject to the grantee's continued service and to the extent
performance conditions are achieved.
The performance condition applying to one third of each award
(the "TSR Part") will measure the Company's total shareholder
return performance ("TSR") over a three year period relative to the
TSR performance over the same period of a comparator group of
companies comprising the constituents of the FTSE 51-200 (excluding
investment trusts) as at the start of the measurement period. The
measurement period for the awards shall comprise three consecutive
financial years of the Company, starting with the 2018 financial
year.
No portion of the TSR Part will vest unless the Company's TSR
performance ranks at least equal to median TSR performance of the
comparator group, at which point 25% of the TSR Part will vest,
rising on a straight-line basis to 100% vesting for the Company's
TSR performance ranking at upper quartile or better relative to the
TSR performance of the comparator group companies.
The performance condition applying to a separate one third of
each award (the "Cash Part") will measure improvement in the
Company's Operating Cash Flow ('OCF') from Continuing Operations
over a measurement period starting with the 2018 financial
year.
No portion of the Cash Part will vest unless the Company's OCF
for the 2020 financial year is greater than GBP141m. Were OCF for
2020 to be greater than GBP141m but not more than GBP176m, 25% to
50% of the Cash Part would vest on a straight-line basis. Were OCF
for 2020 to be GBP176m to GBP211m or more, between 50% of and 100%
of the Cash Part would vest on a straight-line basis.
The performance condition applying to a separate one third of
each award (the "EPS Part") will measure the Company's earnings per
share performance over a measurement period starting with the 2018
financial year.
No portion of the EPS Part will vest unless the Company's EPS
for the 2020 financial year is 22p, at which point 25% of the EPS
Part will vest, rising on a straight-line basis to 100% vesting for
the Company's EPS for 2020 being 31p or more.
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation.
Contact and telephone number for queries/
Duly authorised officer of issuer responsible for making
notification:
Mr D R Mercer, Company Secretary, 020 7216 6800
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
a) Name Leo Martin Quinn
=== ===================== ========================================
2 Reason for the notification
a) Position/status Chief Executive
=== ===================== ========================================
b) Initial notification Initial Notification
/Amendment
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
=== ===============================================================
a) Name Balfour Beatty plc
b) LEI CT4UIJ3TUKGYYHMENQ17
=== ===================== ========================================
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
a) Description Ordinary Shares of 50p each
of the financial
instrument, GB0000961622
type of instrument
Identification
code
=== ===================== ========================================
b) Nature of Conditional award pursuant to
the transaction the rules of the Company's Performance
Share Plan.
c) Price(s)
and volume(s) Price(s) Volume(s)
---------- ----------
GBPNil 592,373
---------- ----------
=== ===================== ========================================
d) Aggregated Single transaction as in 4 (d)
information above
- Aggregated
volume
- Price
e) Date of the 2018-03-27
transaction
=== ===================== ========================================
f) Place of Outside a trading venue
the transaction
=== ===================== ========================================
Contact and telephone number for queries/
Duly authorised officer of issuer responsible for making
notification:
Mr D R Mercer, Company Secretary, 020 7216 6800
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
a) Name Philip James Harrison
=== ===================== ========================================
2 Reason for the notification
a) Position/status Chief Financial Officer
=== ===================== ========================================
b) Initial notification Initial Notification
/Amendment
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
=== ===============================================================
a) Name Balfour Beatty plc
b) LEI CT4UIJ3TUKGYYHMENQ17
=== ===================== ========================================
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
a) Description Ordinary Shares of 50p each
of the financial
instrument, GB0000961622
type of instrument
Identification
code
=== ===================== ========================================
b) Nature of Conditional award pursuant to
the transaction the rules of the Company's Performance
Share Plan.
c) Price(s)
and volume(s) Price(s) Volume(s)
---------- ----------
GBPNil 259,163
---------- ----------
=== ===================== ========================================
d) Aggregated Single transaction as in 4 (d)
information above
- Aggregated
volume
- Price
e) Date of the 2018-03-27
transaction
=== ===================== ========================================
f) Place of Outside a trading venue
the transaction
=== ===================== ========================================
Contact and telephone number for queries/
Duly authorised officer of issuer responsible for making
notification:
Mr D R Mercer, Company Secretary, 020 7216 6800
This information is provided by RNS
The company news service from the London Stock Exchange
END
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