Ibstock PLC Director/PDMR Shareholding (6458T)
March 26 2021 - 5:00AM
UK Regulatory
TIDMIBST
RNS Number : 6458T
Ibstock PLC
26 March 2021
26 March 2021
Ibstock plc (the "Company")
Grant of Awards under the Ibstock plc Long Term Incentive
Plan
Notification of Transactions by Persons Discharging Managerial
Responsibility ("PDMRs")
The Company announces that it granted an award ("LTIP Award")
over Ibstock plc ordinary shares of 1 penny each ("Ordinary
Shares") on 25 March 2021 to PDMRs in accordance with the rules of
the Ibstock plc Long Term Incentive Plan.
Name Status Number of Ordinary Option
Shares under LTIP Price
Award
Joseph Hudson Chief Executive 317,888 GBPNil
Officer
---------------- ------------------- -------
Christopher Chief Financial 213,886 GBPNil
McLeish Officer
---------------- ------------------- -------
No consideration was paid for the grant of the LTIP Awards which
are structured as nil cost options. The number of Ordinary Shares
granted under each LTIP Award has been calculated using an Ordinary
Share price of 214.6 pence per share (the closing share price on 24
March 2021).
The normal vesting date of the LTIP Awards will be 25 March
2024, being the third anniversary of the award date.
Once vested, the LTIP Award will normally be exercisable until
the day before the tenth anniversary of the award date. A two-year
holding period will apply to these awards, which commences on
vesting.
The LTIP Awards will normally vest after 3 years based on the
satisfaction of the following performance conditions: -
i. 40% on relative TSR against the FTSE 250 construction
and building materials companies: Median performance
(threshold); upper quartile performance (maximum);
ii. 30% on absolute Adjusted EPS: 16p EPS (threshold); 19.6p
EPS (maximum);
iii. 20% on average annual Return On Capital Employed ("ROCE"):
15.77% p.a. (threshold); 17.43% p.a. (maximum); and
iv. 10% on the reduction of CO2 per tonne of finished production:
0.152 (threshold); 0.142 maximum.
25% of the LTIP Award will vest for threshold performance under
all measures, with straight line vesting in between to full vesting
for the achievement of maximum performance.
The information below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Joseph Hudson
--------------------------- ------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status 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 Ibstock plc
--------------------------- ------------------------------------------------------
b) LEI 2138003QHTNX34CN9V93
--------------------------- ------------------------------------------------------
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 1p each
financial instrument,
type of instrument
Identification code GB00BYXJC278
b) Nature of the transaction Grant of awards under the Ibstock plc Long
Term Incentive Plan
--------------------------- ------------------------------------------------------
c) Price(s) and volume(s) 317,888
Nil
d) Aggregated information
- Aggregated volume 317,888
- Price Nil
e) Date of the transaction 2021-03-25
--------------------------- ------------------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Christopher McLeish
------------------------------------------------------- ----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------
a) Position/status 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 Ibstock plc
------------------------------------------------------- ----------------------------------------------
b) LEI 2138003QHTNX34CN9V93
------------------------------------------------------- ----------------------------------------------
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 1p each
financial instrument,
type of instrument
Identification code GB00BYXJC278
b) Nature of the transaction Grant of awards under the Ibstock plc Long
Term Incentive Plan
------------------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s) 213,886
Nil
d) Aggregated information
- Aggregated volume 213,886
- Price Nil
e) Date of the transaction 2021-03-25
------------------------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------------------------- ----------------------------------------------
Nick Giles
Group Company Secretary
07796 132222
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