GB Group PLC Director/PDMR Shareholding (1273E)
July 13 2016 - 11:42AM
UK Regulatory
TIDMGBG
RNS Number : 1273E
GB Group PLC
13 July 2016
13 July 2016
GB GROUP PLC
("GBG" or the "Company")
Notification of Directors' Interests
Richard Law
The Company announces that Richard Law (GBG's departing Chief
Executive Officer) has today notified the Company that between
8(th) and 13(th) July 2016 he sold 250,000 ordinary shares of 2.5p
each in the Company ("Ordinary Shares") at an average price of
275.1 pence per share as part of a plan to diversify his
shareholding ahead of his approaching retirement.
Following this notification, Mr. Law has:
-- a beneficial holding of 2,066,045 Ordinary Shares (which
represents 1.55% of the issued share capital of the Company);
and
-- options over a maximum of 900,978 Ordinary Shares.
Dave Wilson
The Company also announces that Dave Wilson (GBG's Group Finance
& Operations Director), has today notified the Company that he
has exercised options over a total of 135,867 Ordinary Shares
awarded in 2013 under GBG's Share Matching Scheme*. He sold 120,812
of the Ordinary Shares exercised (at an average price of 275.14
pence per share) to cover the exercise costs incurred and tax
liabilities arising in respect of the exercise of these options. Mr
Wilson also purchased 39,603 Ordinary Shares in the Company whilst
his wife (Mrs Cath Wilson) sold 110,030 Ordinary Shares in the
Company at the same time.
Following this notification, Mr. Wilson has:
-- a beneficial holding of 414,779 Ordinary Shares (which
represents 0.31% of the issued share capital of the Company);
and
-- options over a maximum of 784,098 Ordinary Shares.
* Note:
Share Matching Scheme
The exercise of these options is in accordance with the rules of
GBG's Share Matching Scheme (the "Scheme"). Under the Scheme, the
executive directors and certain senior managers have the annual
opportunity to elect to invest up to 20% of their annual salary and
up to 80% of their annual bonus in ordinary shares at market price.
Subject to their continued employment, the retention of these
shares and the meeting of a demanding financial performance target,
the investment will be matched on a gross basis by matching shares
issued at an exercise price of 2.5 pence per share.
The principle qualification for vesting of the options detailed
above was a growth in adjusted earnings per share ("EPS") of at
least 25% per annum compounded over 3 financial years. The actual
compound growth in EPS over the period was 31% per annum. The
Scheme requires that the options are exercised within 1 year of
vesting. The options vested on 8 June 2016 when the Group's annual
results for the year ended 31 March 2016 were announced.
- Ends-
For further information, please contact:
GB Group plc
John Constantin, Company Secretary 01244 657333
Peel Hunt LLP (Nominated Adviser
and Broker)
Richard Kauffer
Euan Brown 020 7418 8900
Website www.gbgplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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