Costain Group PLC Director/PDMR Shareholding (7798D)
2014年4月2日 - 12:18AM
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RNS Number : 7798D
Costain Group PLC
01 April 2014
Costain Group PLC ("Costain" or the "Company")
Transactions in shares by Persons Discharging Managerial
Responsibilities ("PDMRs")
This announcement is made in accordance with DTR
3.1.4(1)(a).
On 12 April 2011 awards were granted under the Costain 2002 Long
Term Incentive Plan (the "2002 Plan") and on 09 May 2012 and 07 May
2013 awards were granted under the 2012 Costain Long Term Incentive
Plan (the "2012 Plan") to certain directors of Costain Group PLC
(the "Company").
The awards granted under the 2002 Plan and the 2012 Plan are
structured as options with a GBP1 exercise price over a number of
shares ("Awards").
Following the completion of the Capital Raising announced by the
Company on 27 February 2014 and, pursuant to the rules of the 2002
Plan and the 2012 Plan, the remuneration committee of the board of
directors of the Company has determined that certain adjustments
should automatically be made to the number of shares under the
Awards and also, where relevant, to the Earnings Per Share ("EPS")
performance targets. Details of the adjustments in respect of
Awards held by certain directors of the Company and to the EPS
performance targets are set out below.
Name Date of Number Number EPS performance conditions EPS performance conditions
of Director Grant of shares of shares prior to adjustment after adjustment
under Award under Award
before after
adjustment adjustment
--------------- ------------ ------------- ------------- --------------------------- ----------------------------
Aggregate Percentage Aggregate Percentage
EPS of vesting EPS of vesting
targets of that targets of that
over the portion over the portion
three of Awards three of Awards
financial made over financial made over
years Ordinary years Ordinary
commencing Shares commencing Shares worth
with the worth up with the up to and
year of to and year of including
grant including grant 50% of
50% of salary
salary (i)
(i)
Andrew 12 April
Wyllie 2011 169,294 181,952 n/a n/a
Below 81.66 pence
Below 90 pence 0% 0%
90 pence 15% 81.66 pence 15%
100 pence or more 90.73 pence or more
100% 100%
90 to 100 pence 15% 81.66 to 90.73 pence
to 100% 15% to 100%
09 May on a straight line On a straight line
2012 207,044 222,524 basis basis
Below 80.48 pence
Below 88.7 pence 0% 0%
88.7 pence 15% 80.48 pence 15%
100 pence or more 90.73 pence or more
100% 100%
88.7 to 100 pence 80.48 to 90.73 pence
15% to 100% 15% to 100%
07 May On a straight line On a straight line
2013 163,293 175,502 basis basis
Tony 12 April
Bickerstaff 2011 112,157 120,542 n/a n/a
Below 81.66 pence
Below 90 pence 0% 0%
90 pence 15% 81.66 pence 15%
100 pence or more 90.73 pence or more
100% 100%
90 to 100 pence 15% 81.66 to 90.73 pence
to 100% 15% to 100%
09 May on a straight line on a straight line
2012 137,167 147,422 basis basis
Below 80.48 pence
Below 88.7 pence 0% 0%
88.7 pence 15% 80.48 pence 15%
100 pence or more 90.73 pence or more
100% 100%
88.7 to 100 pence 80.48 to 90.73 pence
15% to 100% 15% to 100%
07 May on a straight line on a straight line
2013 108,691 116,817 basis basis
(i) 50% of the Awards (Tier 1) are subject to aggregate EPS as
shown in the table above. The remaining 50% of the Awards (Tier 2)
are based on operating profit (which has not been adjusted). In
addition no element of the Tier 2 Awards will vest unless an EPS
underpin has been achieved which requires Tier 1 performance
conditions to be met in full and for the EPS for the financial year
ending 31 December 2014 (for the 2012 LTIP Awards) to be at least
35.5p and for the financial year ending 31 December 2015 (for the
2013 LTIP Awards) to be at least 37.3p. These EPS underpins have
now been adjusted to 32.21p and 33.84p respectively.
01 April 2014
ENQUIRIES:
Costain Group PLC Tel: 01628 842 444
Tracey Wood
Company Secretary
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
Helen Tarbet
This information is provided by RNS
The company news service from the London Stock Exchange
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