GB Group PLC Notification of Director's Interest (9664D)
February 05 2018 - 10:02AM
UK Regulatory
TIDMGBG
RNS Number : 9664D
GB Group PLC
05 February 2018
5 February 2018
GB GROUP PLC
("GBG" or "the Company")
Notification of Director's Interest
The Board of GBG announces that the investment of the executive
directors in acquiring shares in the Company in 2017 was carried
out under the Bonus Deferral and Share Matching Plan of the
Company. Accordingly, subject to the conditions outlined below, the
investment of the executive directors has been matched, grossed up
for income taxes, to 2.0x the investment made.
The conditional matching awards to the executive directors are
set out in the table below. The figures reflect the maximum number
of matched shares over which the option might be exercised. The
actual number will depend upon the extent to which the established
performance conditions are satisfied over the performance
period.
Name Performance Maximum Matching Price Payable
Period Award on Exercise
--------------- -------------- ----------------- --------------
David Wilson, 1 April 2017 113,208 shares Nominal Value
Group Finance to (2.5p)
& Operations 31 March
Director 2020
--------------- -------------- ----------------- --------------
Nick Brown, 1 April 2017 119,917 shares Nominal Value
Managing to (2.5p)
Director 31 March
2020
--------------- -------------- ----------------- --------------
Following this announcement:
(i) Dave Wilson has:
-- a beneficial holding of 239,725 Ordinary Shares (which
represents 0.16% of the issued share capital of the Company);
and
-- options over a maximum of 777,636 Ordinary Shares.
(ii) Nick Brown has:
-- a beneficial holding of 970,807 Ordinary Shares (which
represents 0.64% of the issued share capital of the Company);
and
-- options over a maximum of 591,823 Ordinary Shares .
A summary of the rules of the Bonus Deferral and Share Matching
Plan is as follows:
The Company announced in November 2011 that following
consultation with its major shareholders, the Remuneration
Committee of the Board had approved the establishment of a salary
sacrifice, bonus deferral and share matching plan whereby the
executive directors and certain senior managers will have the
opportunity to elect to invest up to 20% of their annual salary and
up to 80% of their annual bonus in ordinary shares. Subject to
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, in the form of options
with a nominal value exercise price, which will, subject to these
conditions, vest after three years.
1. Details of the person discharging managerial
responsibilities / person closely associated
---- -----------------------------------------------------------------------
a. Name Dave Wilson
---- ------------------------------- --------------------------------------
2. Reason for the notification
---- -----------------------------------------------------------------------
a. Position/status Group Finance & Operations Director
---- ------------------------------- --------------------------------------
b. Initial Initial notification
notification
/Amendment
---- ------------------------------- --------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------------
a. Name GB Group plc
---- ------------------------------- --------------------------------------
b. LEI 213800RBAFZIBCV7XR29
---- ------------------------------- --------------------------------------
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 Ordinary shares of 2.5 pence
of the financial
instrument, GB0006870611
type of
instrument
Identification
code
---- ------------------------------- --------------------------------------
b. Nature of Grant of options under share matching
the transaction plan
---- ------------------------------- --------------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
2.5p 113,208
--------- ----------
---- ------------------------------- --------------------------------------
Aggregated
information
* Aggregated volume
113,208
d. * Price 2.5p
---- ------------------------------- --------------------------------------
e. Date of 05 February 2018
the transaction
---- ------------------------------- --------------------------------------
f. Place of London Stock Exchange (XLON);
the transaction AIM
---- ------------------------------- --------------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
---- -----------------------------------------------------------------------
a. Name Nick Brown
---- ------------------------------- --------------------------------------
2. Reason for the notification
---- -----------------------------------------------------------------------
a. Position/status Group Managing Director
---- ------------------------------- --------------------------------------
b. Initial Initial notification
notification
/Amendment
---- ------------------------------- --------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------------
a. Name GB Group plc
---- ------------------------------- --------------------------------------
b. LEI 213800RBAFZIBCV7XR29
---- ------------------------------- --------------------------------------
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 Ordinary shares of 2.5 pence
of the financial
instrument, GB0006870611
type of
instrument
Identification
code
---- ------------------------------- --------------------------------------
b. Nature of Grant of options under share matching
the transaction plan
---- ------------------------------- --------------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
2.5p 119,917
--------- ----------
---- ------------------------------- --------------------------------------
Aggregated
information
* Aggregated volume
119,917
d. * Price 2.5p
---- ------------------------------- --------------------------------------
e. Date of 05 February 2018
the transaction
---- ------------------------------- --------------------------------------
f. Place of London Stock Exchange (XLON);
the transaction AIM
---- ------------------------------- --------------------------------------
- Ends-
For further information, please contact:
GB Group plc 01244 657333
John Constantin, Company
Secretary
Peel Hunt LLP (Nominated
Adviser and Broker) 020 7418 8900
Edward Knight
Nick Prowting
Website www.gbgplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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