Costain Group PLC Long Term Incentive Plan Awards (8842U)
April 08 2021 - 10:05AM
UK Regulatory
TIDMCOST
RNS Number : 8842U
Costain Group PLC
08 April 2021
Costain Group PLC
(the "Company")
LONG TERM INCENTIVE PLAN AWARDS
Costain announces the following grants of share awards to Alex
Vaughan, chief executive officer, and Helen Willis, chief financial
officer.
On 8 April 2021, awards have been made under the Costain Group
PLC 2014 Long Term Incentive Plan (the "LTIP") over ordinary shares
of 50p each in the Company in the form of options with a nil
exercise price (the "Awards"). An Award was granted to Alex Vaughan
over 710,655 shares and to Helen Willis over 590,163 shares, each
representing 100% of salary. No consideration was paid for the
grant of the Awards.
The Awards will normally vest three years after grant, subject
to the satisfaction of performance conditions, but will not
normally be released (so that they can be exercised) until the
fifth anniversary of the date of grant (with no further performance
conditions required after vesting).
The vesting of the Awards is subject to the satisfaction of
performance conditions assessed over the three financial years
ending 31 December 2023. The Company's 2020 Directors' Remuneration
Report included proposed performance conditions which have now been
finalised by the Remuneration Committee of the Company and are
unchanged as follows:
(a) an EPS target (relating to two thirds of the Awards) of
27.9p (for 15% vesting) and 32.4p (for 100% vesting), with vesting
on a straight-line basis between the two; and
(b) a cash conversion target (relating to one third of the
Awards) of 80% (for 15% vesting) and 100% (for 100% vesting), with
vesting on a straight-line basis between the two.
The Remuneration Committee may reduce the extent to which the
Awards vest if the Committee considers that any of the value at
vesting represents a "windfall gain", taking into account such
factors as the Committee determines.
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of the Market Abuse
Regulation.
Notification of Dealing Forms
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 GRANT OF 710,655 OPTIONS UNDER THE COMPANY'S
transaction 2014 LONG TERM INCENTIVE PLAN (2021 LTIP GRANT)
------------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 710,655
----------
------------------------- -------------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
------------------------- -------------------------------------------------
e) Date of the
transaction 8 APRIL 2021
------------------------- -------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
------------------------- -------------------------------------------------
1. Details of the Person Discharging Managerial Responsibility
("PDMR") / person closely associated with them ("PCA")
a) Name HELEN MARGARET WILLIS
------------------------- -------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------
a) Position /status CHIEF FINANCIAL 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 GRANT OF 590,163 OPTIONS UNDER THE COMPANY'S
transaction 2014 LONG TERM INCENTIVE PLAN (2021 LTIP GRANT)
------------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 590,163
----------
------------------------- -------------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
------------------------- -------------------------------------------------
e) Date of the
transaction 8 APRIL 2021
------------------------- -------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
------------------------- -------------------------------------------------
8 APRIL 2021
Enquiries:
Costain Group PLC Tel: 01628 842 444
Sharon Harris, Company Secretary
MHP Communications Tel: 020 3128 8100
Tim Rowntree, Peter Hewer costain@mhpc.com
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END
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