Costain Group PLC Director/PDMR Shareholding (7924B)
April 06 2017 - 3:40AM
UK Regulatory
TIDMCOST
RNS Number : 7924B
Costain Group PLC
06 April 2017
Costain Group PLC
(the "Company")
GRANT OF NIL COST OPTIONS
Costain announces the following grant of share awards to certain
Directors of the Company under the Costain Share Deferral Plan and
the Long Term Incentive Plan as detailed in sections (A) and (B)
below.
(A) Costain Group PLC 2014 Share Deferral Plan
On 05 April 2017, awards over ordinary shares of 50p each in the
Company were made under the Costain Group PLC 2014 Share Deferral
Plan (the "Share Deferral Plan").
The awards granted under the Share Deferral Plan are structured
as options over a number of shares with a nil exercise price (the
"Awards"). No consideration was paid for the grant of the
Awards.
Awards were made to the following Executive Directors:
Name of Director Number of Shares Under the Awards
--------------------- ----------------------------------
Andrew Wyllie 38,064
--------------------- ----------------------------------
Anthony Bickerstaff 25,221
--------------------- ----------------------------------
The Awards will become exercisable on or around the second
anniversary of the date of grant subject to the Rules of the Share
Deferral Plan. To the extent that all or any part of the Awards
become exercisable, they will remain exercisable until the day
before the tenth anniversary of the date of grant provided the
individual remains an employee or officer of the Company.
(B) Costain Group PLC 2014 Long Term Incentive Plan
On 05 April 2017, awards under the Costain Group PLC 2014 Long
Term Incentive Plan (the "LTIP") were made over ordinary shares of
50p each in the Company in the form of options with a nil exercise
price (the "Awards"). No consideration was paid for the grant of
the Awards.
The vesting of the Awards is subject to the satisfaction of
certain performance conditions. The Annual Report 2016 included
proposed performance conditions. The performance conditions have
now been finalised by the Remuneration Committee of the Company and
are as follows:
(a) an EPS target (relating to 75% of the Awards) of 101.4p (for
15% vesting) and 113.6p (for 100% vesting), with vesting on a
straight-line basis between the two; and
(b) a cash conversion target (relating to 25% of the Awards) of
80% (for 15% vesting) and 100% (for 100% vesting), with vesting on
a straight-line basis between the two.
50% of the Awards will normally vest three years after grant,
subject to the satisfaction of performance conditions over the
three-year financial period ending 31 December 2019, whilst the
remaining 50% of the Awards will normally vest on the fifth
anniversary of the date of grant (with no further performance
conditions required). The Awards will remain exercisable from the
date of vesting of each half of the Awards until the day before the
tenth anniversary of the date of grant provided the individual
remains an employee or officer of the Company.
Awards were made to the following Executive Directors:
Name of Director Number of Shares subject
to the Award
----------------------------- -------------------------
Andrew Wyllie 103,491
----------------------------- -------------------------
Anthony Bickerstaff 68,573
----------------------------- -------------------------
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of the EU Market Abuse
Regulation.
Notification of Dealing Form
1. Details of the Person Discharging Managerial
Responsibility ("PDMR") / person closely associated
with them ("PCA")
--- ---------------------------------------------------------------------
a) Name ANDREW WYLLIE
--- ----------------------------- --------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------
a) Position CHIEF EXECUTIVE
/status
--- ------------------------------- ------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
--- ------------------------------- ------------------------------------
3. Details of the Issuer
--- ---------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
--- ------------------------------- ------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
--- ------------------------------- ------------------------------------
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
of the financial ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
--- ----------------------------- --------------------------------------
b) Nature of GRANT OF 38,064 OPTIONS UNDER THE
the transaction COMPANY'S 2014 SHARE DEFERRAL PLAN
--- ----------------------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil cost 38,064
---------- ----------
--- ----------------------------- --------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
--- ----------------------------- --------------------------------------
e) Date of the
transaction 05 APRIL 2017
--- ----------------------------- --------------------------------------
f) Place of
the transaction OUTSIDE A TRADING VENUE
--- ----------------------------- --------------------------------------
Notification of Dealing Form
1. Details of the Person Discharging Managerial
Responsibility ("PDMR") / person closely associated
with them ("PCA")
--- --------------------------------------------------------------------
a) Name ANTHONY OLIVER BICKERSTAFF
--- ---------------------------- --------------------------------------
2. Reason for the notification
--- --------------------------------------------------------------------
a) Position GROUP FINANCE DIRECTOR
/status
--- ------------------------------ ------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
--- ------------------------------ ------------------------------------
3. Details of the Issuer
--- --------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
--- ------------------------------ ------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
--- ------------------------------ ------------------------------------
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
of the financial ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
--- ---------------------------- --------------------------------------
b) Nature of GRANT OF 25,221 OPTIONS UNDER THE
the transaction COMPANY'S 2014 SHARE DEFERRAL PLAN
--- ---------------------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil cost 25,221
---------- ----------
--- ---------------------------- --------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
--- ---------------------------- --------------------------------------
e) Date of the
transaction 05 APRIL 2017
--- ---------------------------- --------------------------------------
f) Place of
the transaction OUTSIDE A TRADING VENUE
--- ---------------------------- --------------------------------------
Notification of Dealing Form
1. Details of the Person Discharging Managerial
Responsibility ("PDMR") / person closely associated
with them ("PCA")
--- ---------------------------------------------------------------------
a) Name ANDREW WYLLIE
--- ----------------------------- --------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------
a) Position CHIEF EXECUTIVE
/status
--- ------------------------------- ------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
--- ------------------------------- ------------------------------------
3. Details of the Issuer
--- ---------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
--- ------------------------------- ------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
--- ------------------------------- ------------------------------------
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
of the financial ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
--- ----------------------------- --------------------------------------
b) Nature of GRANT OF 103,491 OPTIONS UNDER THE
the transaction COMPANY'S 2014 LONG TERM INCENTIVE
PLAN
--- ----------------------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil cost 103,491
---------- ----------
--- ----------------------------- --------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
--- ----------------------------- --------------------------------------
e) Date of the
transaction 05 APRIL 2017
--- ----------------------------- --------------------------------------
f) Place of
the transaction OUTSIDE A TRADING VENUE
--- ----------------------------- --------------------------------------
Notification of Dealing Form
1. Details of the Person Discharging Managerial
Responsibility ("PDMR") / person closely associated
with them ("PCA")
--- --------------------------------------------------------------------
a) Name ANTHONY OLIVER BICKERSTAFF
--- ---------------------------- --------------------------------------
2. Reason for the notification
--- --------------------------------------------------------------------
a) Position GROUP FINANCE DIRECTOR
/status
--- ------------------------------ ------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
--- ------------------------------ ------------------------------------
3. Details of the Issuer
--- --------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
--- ------------------------------ ------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
--- ------------------------------ ------------------------------------
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
of the financial ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
--- ---------------------------- --------------------------------------
b) Nature of GRANT OF 68,573 OPTIONS UNDER THE
the transaction COMPANY'S 2014 LONG TERM INCENTIVE
PLAN
--- ---------------------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil cost 68,573
---------- ----------
--- ---------------------------- --------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
--- ---------------------------- --------------------------------------
e) Date of the
transaction 05 APRIL 2017
--- ---------------------------- --------------------------------------
f) Place of
the transaction OUTSIDE A TRADING VENUE
--- ---------------------------- --------------------------------------
06 APRIL 2017
Enquiries:
Costain Group PLC Tel: 01628 842444
Tracey Wood
Company Secretary
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
Helen Tarbet
This information is provided by RNS
The company news service from the London Stock Exchange
END
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