REG - Costain Group PLC - Director/PDMR Shareholding

CostainAnnouncement

15/06/2020 18:01

RNS Number : 0088Q
  
Costain Group PLC
  
15 June 2020
  
 

Costain Group PLC
("Costain" or "the Company")
 
Transactions in shares by Persons Discharging Managerial Responsibilities ("PDMRs")
 
EXERCISE OF NIL COST OPTIONS
 
(a)   Total Beneficial Holding of Shares
 
Costain announces that, following the exercise of share awards granted under the Company's 2014 Long Term Incentive Plan as detailed in section (b) below, and under the Company's 2014 Share Deferral Plan as detailed in section (c) below, the following Executive Directors held 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


Shares held prior to the transactions detailed below


Shares held following the transactions detailed below


Total beneficial interest in Shares following the transactions detailed below in accordance with the Company's Share Ownership Guidelines




Alex Vaughan 


202,509


214,876


214,876




Tony Bickerstaff


384,183


440,953


465,706 #



 
# The 23,297 Shares (after estimated reduction for tax and national insurance) relating to the awards made in 2016 under the Company's Long Term Incentive Plan which are no longer subject to performance criteria and are exercisable from 2021 have been adjusted to reflect the capital raising completed on 29 May 2020 to 24,753 Shares (after estimated reduction for tax and national insurance).
 
 
(b)   Long Term Incentive Plan 
 
On 9 March 2015, awards were granted under the Costain Group PLC 2014 Long Term Incentive Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the "LTIP Awards"). No consideration was paid for the grant of the LTIP Awards. For Tony Bickerstaff, 50% of the LTIP Award vested after three years and the remaining 50% of the LTIP Award became exercisable on 09 March 2020 on the fifth anniversary of the date of grant for a period of ten years from the date of grant.
 
On 15 June 2020, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:
On 12 June 2020, the following Director exercised an LTIP Award to acquire the number of Shares as set out in the table below. As detailed below, the Director concerned sold sufficient Shares to satisfy his income tax and national insurance liability arising on exercise, and retained the remaining Shares.
 



Name of Director
 


Total number of Shares acquired on exercise of LTIP Award


Exercise Price


Number of Shares sold to satisfy Tax and National Insurance Liabilities, such Shares sold at a price per Share of 75.0 pence


Number of Shares retained




Tony Bickerstaff


54,291


Nil


25,517


28,774



 
 
 
(c)        Share Deferral Plan
 
On 4 April 2018, awards were granted under the Costain Group PLC 2014 Share Deferral Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the "SDP Awards"). No consideration was paid for the grant of the SDP Awards. The SDP Awards became exercisable on 4 April 2020 for a period of ten years from the date of grant.
On 15 June 2020, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:
On 12 June 2020, the following Directors exercised SDP Awards to acquire the number of Shares as set out in the table below. As detailed below, the Directors concerned sold sufficient Shares to satisfy their income tax and national insurance liability arising on exercise and retained the remaining Shares.



Name of Director
 


Total number of Shares acquired on exercise of Awards


Exercise Price


Number of Shares sold to satisfy Tax and National Insurance Liabilities, such Shares sold at a price per Share of 75.0 pence


Number of Shares retained




Alex Vaughan


23,335


Nil


10,968


12,367




Tony Bickerstaff


52,824


Nil


24,828


27,996



 
 
 
The following notifications are made under article 19 of the Market Abuse Regulation ("MAR") relating to certain transactions by PDMRs:




 
 
Notification of Dealing Form



1.


Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")




a)


Name


ANTHONY BICKERSTAFF




2.


Reason for the notification




a)


Position /status


PDMR - FINANCE DIRECTOR




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


COSTAIN GROUP PLC




b)


LEI code


213800PKIJBZ2EDTKC88




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 financial instrument, type of instrument
Identification code


 
ORDINARY SHARES OF 50 PENCE EACH
 
ISIN:  GB00B64NSP76




b)


Nature of the transaction


EXERCISE OF 54,291 NIL COST OPTIONS UNDER THE 2015 GRANT OF THE COMPANY'S 2014 LONG TERM INCENTIVE PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




NIL


54,291



 
 
 




d)


Aggregated information
-  Aggregated volume
-  Price


 
N/A
 
 




e) 


Date of the transaction


 
12 JUNE 2020




f)


Place of the transaction 


 
OUTSIDE A TRADING VENUE









 
 
 
 
 
 
 
Notification of Dealing Form
 



1.


Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")




a)


Name


ALEX VAUGHAN 




2.


Reason for the notification




a)


Position /status


PDMR - CEO




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


COSTAIN GROUP PLC




b)


LEI code


213800PKIJBZ2EDTKC88




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 financial instrument, type of instrument
Identification code


 
ORDINARY SHARES OF 50 PENCE EACH
 
ISIN:  GB00B64NSP76




b)


Nature of the transaction


EXERCISE OF 23,335 NIL COST OPTIONS UNDER THE 2018 GRANT OF THE COMPANY'S 2014 SHARE DEFERRAL PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




0.00


23,335



 
 
 




d)


Aggregated information
-  Aggregated volume
-  Price


 
N/A
 
 




e) 


Date of the transaction


 
12 JUNE 2020




f)


Place of the transaction 


 
OUTSIDE A TRADING VENUE









 
 
 
 
 
Notification of Dealing Form



1.


Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")




a)


Name


ANTHONY BICKERSTAFF




2.


Reason for the notification




a)


Position /status


PDMR - FINANCE DIRECTOR




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


COSTAIN GROUP PLC




b)


LEI code


213800PKIJBZ2EDTKC88




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 financial instrument, type of instrument
Identification code


 
ORDINARY SHARES OF 50 PENCE EACH
 
ISIN:  GB00B64NSP76




b)


Nature of the transaction


EXERCISE OF 52,824 NIL COST OPTIONS UNDER THE 2018 GRANT OF THE COMPANY'S 2014 SHARE DEFERRAL PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




NIL


52,824



 
 
 




d)


Aggregated information
-  Aggregated volume
-  Price


 
N/A
 
 




e) 


Date of the transaction


 
12 JUNE 2020




f)


Place of the transaction 


 
OUTSIDE A TRADING VENUE









 
 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
DSHSFLFIIESSESM