Costain Group PLC Exercise of Nil Cost Options (7354U)
April 08 2021 - 03:00AM
UK Regulatory
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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