COST Costain Group Plc

TIDMCOST

RNS Number : 6301J

Costain Group PLC

08 April 2015

Costain Group PLC

("Costain" or "the Company")

Transactions in shares by Persons Discharging Managerial Responsibilities ("PDMRs")

This notification is made in accordance with DTR 3.1.4(1).

(a) Total Beneficial Holding of Shares

Costain Group PLC announces that, following the exercise of share awards granted under the Company's Deferred Share Bonus Plan as detailed in section (b) below, the following Directors hold the number of ordinary shares of 50 pence each in the share capital of the Company (the 'shares') as set out in the table below:

 
 Name of Director       Total beneficial holding   Total beneficial holding 
                         of shares held prior       of shares held following 
                         to the transaction         the transaction detailed 
                         detailed in the section    in section below 
                         below 
---------------------  -------------------------  -------------------------- 
 Andrew Wyllie                  340,000                     350,000 
---------------------  -------------------------  -------------------------- 
 Anthony Bickerstaff            186,691                     192,826 
---------------------  -------------------------  -------------------------- 
 

(b) Deferred Share Bonus Plan

On 03 April 2013, awards were granted under the Costain Group PLC Deferred Share Bonus Plan ("the Plan") to certain Directors of the Company. The awards were granted under the Plan in the form of options with a nil exercise price over a fixed number of shares (the "Deferred Award") and options over a fixed value of shares (the "Combined Deferred Award") granted in combination with an HMRC approved market value option over a fixed number of shares (the "Option"), (together "the Awards"). No consideration was paid for the grant of the Awards.

The Awards became exercisable on 03 April 2015 for a period up until the tenth anniversary of grant.

On 03 April 2015 the following Directors exercised their options to acquire the number of ordinary shares of 50 pence each in the share capital of the Company as set out in the table below. As detailed below, these individuals sold a proportion of the resulting ordinary shares, including sufficient to satisfy the exercise price of GBP2.59 (in respect of the Option only) and their income tax and national insurance liability arising on the exercise, and retained the remaining shares. In addition, in accordance with the Rules of the Plan, dividend shares were awarded representing the value of dividends that would have been due on the vested Deferred Award shares during the period between 03 October 2013 and 03 April 2015.

 
 Name of           Total number of       Exercise        Number of       Number of      Number of        Price at 
 Director          shares acquired on    Price           shares sold      shares Sold   shares           which shares 
                   exercise of the       relating to     to satisfy       (after tax)   Retained         were sold 
                   Awards* (including    the Option      Tax and                        (after tax) 
                   dividend shares)      only            National 
                                                         Insurance 
                                                         Liabilities 
----------------  --------------------  --------------  --------------  -------------  ---------------  -------------- 
 Andrew 
  Wyllie                 52,062             GBP2.59         24,470          17,592          10,000          GBP3.15 
----------------  --------------------  --------------  --------------  -------------  ---------------  -------------- 
 Anthony 
  Bickerstaff            34,258             GBP2.59         16,102          12,021          6,135           GBP3.15 
----------------  --------------------  --------------  --------------  -------------  ---------------  -------------- 
 

* as adjusted following the Capital Raising in March 2014

The Company was informed of the above exercise of options on 03 April 2015 and the number of shares sold/retained following exercise on 08 April 2015.

08 April 2015

Enquiries:

Costain Group PLC Tel: 01628 842444

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

END

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