TIDMCOST

RNS Number : 7354U

Costain Group PLC

08 April 2021

Costain Group PLC

(the "Company")

EXERCISE OF NIL COST OPTIONS

   (a)   Total Beneficial Holding of Shares 

Costain announces that, following the exercise of share awards granted under the Company's 2014 Share Deferral Plan (SDP) as detailed in section (b) below, Alex Vaughan, Chief Executive Officer, held the number of ordinary shares of 50 pence each in the share capital of the Company (the "Shares") as set out in the table below:

 
 Name of Director    Total beneficial holding     Total beneficial holding of 
                      of Shares held prior to      Shares held following the 
                      the transactions detailed    transactions detailed in section 
                      in section (b) below         (b) below 
 
   Alex Vaughan                228,461                          239,612 
                    ---------------------------  ---------------------------------- 
 
   (b)        Vesting of Share Deferral Plan (SDP) 

On 3 April 2019, awards were granted under the Costain Group PLC 2014 Share Deferral Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the "Awards"). No consideration was paid for the grant of the Awards. The Awards vested on 3 April 2021 and became exercisable for a period of ten years from the date of grant.

On 7 April 2021, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:

On 6 April 2021, Alex Vaughan exercised his Award to acquire the number of Shares as set out in the table below. Also as detailed below, the Director sold a number of Shares sufficient to satisfy his income tax and national insurance liability arising on exercise and retained the remaining Shares.

 
     Name of           Total number        Exercise    Number of Shares sold    Number of Shares 
     Director        of Shares acquired      Price       to satisfy Tax and         retained 
                        on exercise                      National Insurance 
                    of Awards (including                 Liabilities, such 
                      Dividend Shares                  Shares sold at a price 
                         accrued at                      per Share of 61.5 
                          vesting)                             pence 
 
   Alex Vaughan            21,041             Nil               9,890                 11,151 
                  ----------------------  ---------  ------------------------  ----------------- 
 

The Notification of Dealing Form set out below is provided in accordance with the requirements of the Market Abuse Regulation.

Notification of Dealing Form

 
 1.   Details of the Person Discharging Managerial Responsibility 
       ("PDMR") / person closely associated with them ("PCA") 
 a)   Name                           ALEXANDER JOHN VAUGHAN 
     -----------------------------  ------------------------------------------------------- 
 2.   Reason for the notification 
     -------------------------------------------------------------------------------------- 
 a)   Position /status                 CHIEF EXECUTIVE OFFICER/ PDMR 
     -------------------------------  ----------------------------------------------------- 
 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 the                       (1) EXERCISE OF 21,041 NIL COST OPTIONS UNDER 
       transaction                         THE COMPANY'S 2014 SHARE DEFERRAL PLAN (2019 
                                           SDP GRANT) 
                                           (2) SALE OF 9,890 SHARES TO SATISFY TAX AND NI 
                                           LIABILITIES 
     -----------------------------  ------------------------------------------------------- 
 c)   Price(s) and                    Price(s)             Volume(s) 
       volume(s)                            (1) Nil Cost    21,041 
                                                           ---------- 
                                            (2) GBP0.615    9,890 
                                                           ---------- 
     -----------------------------  ------------------------------------------------------- 
 d)   Aggregated information 
        *    Aggregated volume         N/A 
 
 
        *    Price 
     -----------------------------  ------------------------------------------------------- 
 e)   Date of the 
       transaction                     6 APRIL 2021 
     -----------------------------  ------------------------------------------------------- 
 f)   Place of the 
       transaction                     (1) and (2) OUTSIDE A TRADING VENUE 
     -----------------------------  ------------------------------------------------------- 
 
 

Enquiries:

 
 
     Costain                                      Tel: 01628 842 444 
   Sharon Harris, General Counsel and Company 
    Secretary 
 
 
   MHP Communications                             Tel: 020 3128 8771 
   Tim Rowntree                                   costain@mhpc.com 
    Peter Hewer 
 
 

8 APRIL 2021

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END

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