REG - Costain Group PLC - Exercise of Nil Cost Options

CostainAnnouncement

08/04/2021 09:00

RNS Number : 7354U
  
Costain Group PLC
  
08 April 2021
  
 

 
Costain Group PLC
(the "Company") 



 
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 Share Deferral Plan (SDP) as detailed in section (b) below, Alex Vaughan, Chief Executive Officer, 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


Total beneficial holding of Shares held prior to the transactions detailed in section (b) below


Total beneficial holding of Shares held following the transactions detailed in section (b) below




 
Alex Vaughan
 


 
228,461


 
239,612




 
(b)        Vesting of Share Deferral Plan (SDP)
 
On 3 April 2019, 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 "Awards"). No consideration was paid for the grant of the Awards. The Awards vested on 3 April 2021 and became exercisable for a period of ten years from the date of grant. 
 
On 7 April 2021, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:
 
On 6 April 2021, Alex Vaughan exercised his Award to acquire the number of Shares as set out in the table below. Also as detailed below, the Director sold a number of Shares sufficient 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 Awards (including Dividend Shares accrued at vesting)
 


Exercise Price


Number of Shares sold to satisfy Tax and National Insurance Liabilities, such Shares sold at a price per Share of 61.5 pence
 


Number of Shares retained




 
Alex Vaughan
 
 


 
21,041


 
Nil


 
9,890


 
11,151




 
 
 
The Notification of Dealing Form set out below is provided in accordance with the requirements of the Market Abuse Regulation.
Notification of Dealing Form
 




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


(1)   EXERCISE OF 21,041 NIL COST OPTIONS UNDER THE COMPANY'S 2014 SHARE DEFERRAL PLAN (2019 SDP GRANT)
(2)   SALE OF 9,890 SHARES TO SATISFY TAX AND NI LIABILITIES




c) 


Price(s) and volume(s)






Price(s)


Volume(s)




(1)   Nil Cost


21,041




(2)   £0.615


9,890




 
 
 




d)


Aggregated information 
-  Aggregated volume 
-  Price 


 
N/A
 
 




e) 


Date of the transaction


 
6 APRIL 2021




f)


Place of the transaction 


 
(1)   and (2) OUTSIDE A TRADING VENUE



 
 
 
 



 
 
Enquiries:




 
Costain


 
  Tel: 01628 842 444




Sharon Harris, General Counsel and Company Secretary


 




 


 




 


 




MHP Communications


Tel: 020 3128 8771




Tim Rowntree
Peter Hewer


costain@mhpc.com
 
 




 


 




8 APRIL 2021
 

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