TIDMDRV
RNS Number : 1071N
Driver Group plc
28 January 2021
DRIVER GROUP PLC
("Driver" or "the Group")
Grant of share options under new Long Term Incentive Plan
Driver Group PLC (AIM: DRV), the global professional services
consultancy to construction and engineering industries, has,
pursuant to the rules of its newly introduced Long Term Incentive
Plan ("new LTIP"), granted options to certain of its Directors and
PDMRs to subscribe for up to 2,801,000 ordinary shares of 0.4p each
in the capital of the Company (the "Options") as follows:
Director / PDMR Number of Total Number % of issued share
new Options of Options capital represented
granted now held by Options now
held
Mark Wheeler, Group
CEO 1,500,000 1,953,336 3.6%
David Kilgour, Group
CFO 500,000 613,336 1.1%
Tom Comerford, UK MD 267,000 317,000 0.6%
Peter Banathy, Regional
Director 267,000 267,000 0.5%
Hugo-Frans Bol, MD
Europe 267,000 267,000 0.5%
It is anticipated that further Options to subscribe for up to
2,600,000 ordinary shares will be granted to other senior Group
employees during the next few weeks. The Options granted and to be
granted under the new LTIP have certain performance conditions
attaching to them, linked to PBET, and vesting will occur in equal
annual tranches, contingent upon the achievement of the relevant
conditions during each of the three financial years ending from 30
September 2021 to 30 September 2023. The core performance measures
which underpin the vesting of awards under the new LTIP are the
delivery of cumulative Group PBET over the three year performance
measurement cycle of at least GBP14.0 million and of Group PBET in
the financial year ending 30 September 2023 of at least GBP6.0
million.
The Options for Mark Wheeler and David Kilgour will vest in
three equal annual tranches upon the achievement of Group PBET
targets over the three year period to 30 September 2023. The
Options for the PDMRs and other qualifying employees will also vest
in three equal annual tranches and are split as follows: 1/3 on
continued employment over the period, 1/3 on achievement of
regional PBET targets and 1/3 on achievement of Group PBET targets.
To the extent that the performance conditions are met and Options
vest, those Options will then be exercisable at nil cost after the
end of the three year performance measurement cycle. To the extent
appropriate and permissible and subject to the availability of cash
resources surplus to the Group's operational requirements, the
Directors will seek to use the Company's annual share buy-back
authority to make market purchases of Ordinary Shares in order to
minimise the dilutive impact of the vesting of Options under the
new LTIP.
Enquiries:
Driver Group plc 020 7377 0005
Mark Wheeler (CEO)
David Kilgour (CFO)
N+1 Singer (Nomad & Broker) 020 7496 3000
Sandy Fraser
Jen Boorer
Acuitas Communications 020 3687 0868
Simon Nayyar simon.nayyar@acuitascomms.com
Catriona Foyle catriona.foyle@acuitascomms.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Wheeler
-------------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Group Chief Executive Officer
-------------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Driver Group PLC
-------------------------------- ----------------------------------------
b) LEI 213800FN83KF8AF4Y572
-------------------------------- ----------------------------------------
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 Ordinary Shares of 0.4 pence each
financial instrument,
type of instrument
Identification code GB00B0L9C092
b) Nature of the transaction Grant of options
-------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------------ -----------
Price(s) Volume(s)
------------------------ -----------
Exercise price
of Nil per Option 1,500,000
-------------------------------------------------------------- -----------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 25th January 2021
-------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- ----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Kilgour
-------------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Group 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 Driver Group PLC
-------------------------------- ----------------------------------------
b) LEI 213800FN83KF8AF4Y572
-------------------------------- ----------------------------------------
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 Ordinary Shares of 0.4 pence each
financial instrument,
type of instrument
Identification code GB00B0L9C092
b) Nature of the transaction Grant of options
-------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------------ -----------
Price(s) Volume(s)
------------------------ -----------
Exercise price
of Nil per Option 500,000
-------------------------------------------------------------- -----------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 25th January 2021
-------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- ----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tom Comerford
-------------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status UK Managing Director
-------------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Driver Group PLC
-------------------------------- ----------------------------------------
b) LEI 213800FN83KF8AF4Y572
-------------------------------- ----------------------------------------
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 Ordinary Shares of 0.4 pence each
financial instrument,
type of instrument
Identification code GB00B0L9C092
b) Nature of the transaction Grant of options
-------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------------ -----------
Price(s) Volume(s)
------------------------ -----------
Exercise price
of Nil per Option 267,000
-------------------------------------------------------------- -----------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 25th January 2021
-------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- ----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Peter Banathy
-------------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Regional Director
-------------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Driver Group PLC
-------------------------------- ----------------------------------------
b) LEI 213800FN83KF8AF4Y572
-------------------------------- ----------------------------------------
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 Ordinary Shares of 0.4 pence each
financial instrument,
type of instrument
Identification code GB00B0L9C092
b) Nature of the transaction Grant of options
-------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------------ -----------
Price(s) Volume(s)
------------------------ -----------
Exercise price
of Nil per Option 267,000
-------------------------------------------------------------- -----------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 25th January 2021
-------------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- ----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Hugo Frans Bol
-------------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Managing Director, Mainland Europe
-------------------------------- -----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Driver Group PLC
-------------------------------- -----------------------------------------
b) LEI 213800FN83KF8AF4Y572
-------------------------------- -----------------------------------------
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 Ordinary Shares of 0.4 pence each
financial instrument,
type of instrument
Identification code GB00B0L9C092
b) Nature of the transaction Grant of options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s)
------------------------- -----------
Price(s) Volume(s)
------------------------- -----------
Exercise price
of Nil per Option 267,000
--------------------------------------------------------------- -----------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 25th January 2021
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- -----------------------------------------
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END
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