REG - Costain Group PLC - Director/PDMR Shareholding
09/04/2024 13:45
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RNS Number : 8951J Costain Group PLC 09 April 2024
Costain Group PLC (the Company)
9 April 2024
GRANT OF SHARE PLAN AWARDS
Costain announces the following grants of share awards to Alex Vaughan, chief
executive officer, and Helen Willis, chief financial officer.
A. SHARE DEFERRAL PLAN AWARDS
On 9 April 2024, awards have been made under The Costain 2023 Share Deferral
Plan (Share Deferral Plan) over ordinary shares of 50p each in the Company in
the form of options with a nil exercise price (SDP Awards). An SDP Award was
granted to Alex Vaughan over 235,611 shares and Helen Willis over 195,656
shares, each representing deferral into shares of one third of their 2023
Annual Incentive Plan earned. No consideration was paid for the grant of the
Awards.
The SDP Awards will normally become exercisable on the second anniversary of
the grant date subject to the rules of the Share Deferral Plan. To the extent
that all or any part of the SDP Awards become exercisable, they will remain
exercisable until the tenth anniversary of the date of grant provided the
individual remains an employee or officer of the Company.
B. LONG TERM INCENTIVE PLAN AWARDS
Also on 9 April 2024, awards have been made under The Costain 2023 Long Term
Incentive Plan (LTIP) over ordinary shares of 50p each in the Company in the
form of options with a nil exercise price (LTIP Awards). An LTIP Award was
granted to Alex Vaughan over 666,279* shares and to Helen Willis over 553,359*
shares, each representing 100% of salary. No consideration was paid for the
grant of the Awards.
The Awards will normally vest three years after grant, subject to the
satisfaction of performance conditions, but will not normally be released (so
that they can be exercised) until the fifth anniversary of the grant date
(with no further performance conditions required after vesting).
The vesting of the Awards is subject to the satisfaction of performance
conditions assessed over the three financial years ending 31 December 2026.
The Company's 2023 Directors' Remuneration Report included proposed
performance conditions which have now been finalised by the Remuneration
Committee of the Company and are unchanged.
The Remuneration Committee may reduce the extent to which the LTIP Awards vest
if the Committee considers that any of the value at vesting represents a
"windfall gain", taking into account such factors as the Committee determines.
The Notification of Dealing Forms for both the SDP and the LTIP, set out
further below, are provided in accordance with the requirements of the Market
Abuse Regulation.
* Each of Alex Vaughan and Helen Willis has also been granted a tax
qualifying option over 77,519 shares, at a per share exercise price of £0.774
as part of their LTIP Award. These tax qualifying options are linked to the
nil cost option such that, at the time of exercise, to the extent that there
is a gain in the tax qualifying option, the nil cost option will be forfeited
to the value of that gain.
Enquiries
Investors and analysts paul.sharma@costain.com
Paul Sharma, Costain +44 (0)7867 501188
Financial media - Headland costain@headlandconsultancy.com (mailto:costain@headlandconsultancy.com)
Andy Rivett-Carnac +44 (0)7968 997365
Charlie Twigg +44 (0)7946 494568 (tel:+44%20(0)79%204649%204568)
Notification of Dealing Forms
1. Details of the Person Discharging Managerial Responsibility ("PDMR") / person
closely associated with them ("PCA")
a) Name ALEXANDER JOHN VAUGHAN
2. Reason for the notification
a) Position /status CHIEF EXECUTIVE OFFICER/PDMR
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
ORDINARY SHARES OF 50 PENCE EACH
Identification code
ISIN: GB00B64NSP76
b) Nature of the transaction GRANT OF AN OPTION UNDER THE COSTAIN 2023 SHARE DEFERRAL PLAN (2024 SDP GRANT)
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 235,611
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction
9 APRIL 2024
f) Place of the transaction
OUTSIDE A TRADING VENUE
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
9 APRIL 2024
f)
Place of the transaction
OUTSIDE A TRADING VENUE
1. Details of the Person Discharging Managerial Responsibility ("PDMR") / person
closely associated with them ("PCA")
a) Name HELEN MARGARET WILLIS
2. Reason for the notification
a) Position /status CHIEF FINANCIAL OFFICER/PDMR
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
ORDINARY SHARES OF 50 PENCE EACH
Identification code
ISIN: GB00B64NSP76
b) Nature of the transaction GRANT OF AN OPTION UNDER THE COSTAIN 2023 SHARE DEFERRAL PLAN (2024 SDP GRANT)
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 195,656
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction
9 APRIL 2024
f) Place of the transaction
OUTSIDE A TRADING VENUE
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
9 APRIL 2024
f)
Place of the transaction
OUTSIDE A TRADING VENUE
1. Details of the Person Discharging Managerial Responsibility ("PDMR") / person
closely associated with them ("PCA")
a) Name ALEXANDER JOHN VAUGHAN
2. Reason for the notification
a) Position /status CHIEF EXECUTIVE OFFICER/ PDMR
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 GRANT OF OPTIONS UNDER THE COSTAIN 2023 LONG TERM INCENTIVE PLAN (2024 LTIP
GRANT)
c) Price(s) and volume(s) Nil cost option
Price(s) Volume(s)
Nil cost 666,279
Tax qualifying option
Price(s) Volume(s)
£0.774 (per Ordinary Share exercise price) 77,519
d) Aggregated information
- Aggregated volume
- Price Options granted over 743,798 shares in total
N/A
e) Date of the transaction
9 APRIL 2024
f) Place of the transaction
OUTSIDE A TRADING VENUE
1. Details of the Person Discharging Managerial Responsibility ("PDMR") / person
closely associated with them ("PCA")
a) Name HELEN MARGARET WILLIS
2. Reason for the notification
a) Position /status CHIEF FINANCIAL OFFICER/ PDMR
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 GRANT OF OPTIONS UNDER THE COSTAIN 2023 LONG TERM INCENTIVE PLAN (2024 LTIP
GRANT)
c) Price(s) and volume(s) Nil cost option
Price(s) Volume(s)
Nil cost 553,359
Tax qualifying option
Price(s) Volume(s)
£0.774 (per Ordinary Share exercise price) 77,519
d) Aggregated information
- Aggregated volume
- Price Options granted over 630,878 shares in total
N/A
e) Date of the transaction
9 APRIL 2024
f) Place of the transaction
OUTSIDE A TRADING VENUE
Tax qualifying option
Price(s) Volume(s)
£0.774 (per Ordinary Share exercise price) 77,519
d)
Aggregated information
- Aggregated volume
- Price
Options granted over 743,798 shares in total
N/A
e)
Date of the transaction
9 APRIL 2024
f)
Place of the transaction
OUTSIDE A TRADING VENUE
1.
Details of the Person Discharging Managerial Responsibility ("PDMR") / person
closely associated with them ("PCA")
a)
Name
HELEN MARGARET WILLIS
2.
Reason for the notification
a)
Position /status
CHIEF FINANCIAL OFFICER/ PDMR
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
GRANT OF OPTIONS UNDER THE COSTAIN 2023 LONG TERM INCENTIVE PLAN (2024 LTIP
GRANT)
c)
Price(s) and volume(s)
Nil cost option
Price(s) Volume(s)
Nil cost 553,359
Tax qualifying option
Price(s) Volume(s)
£0.774 (per Ordinary Share exercise price) 77,519
d)
Aggregated information
- Aggregated volume
- Price
Options granted over 630,878 shares in total
N/A
e)
Date of the transaction
9 APRIL 2024
f)
Place of the transaction
OUTSIDE A TRADING VENUE
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