REG - Galliford Try Hldgs - Director/PDMR Shareholding

Galliford Try HoldingsAnnouncement

13/03/2020 16:00

RNS Number : 1527G
  
Galliford Try Holdings PLC
  
13 March 2020
  
 

 
Galliford Try Holdings plc
("Galliford Try" or the "Company")
 
Performance conditions for awards under Galliford Try's Long Term Incentive Plan (the "Plan")
 
Following the decision of the Remuneration Committee to defer the granting of any conditional share awards under the existing Long Term Incentive Plan until the completion of the disposal of the housing and partnerships divisions by Galliford Try plc, which was announced on 3 January 2020, the Company now intends to make awards under the Plan.
 
The Company confirms that the performance conditions for such awards will be structured as were previous grants, and are based on underlying earnings per share ("EPS") in respect of a performance period comprising three consecutive financial years of the Company starting with the current year ending 30 June 2020.
 
The vesting of up to 100% of each base award will be based on underlying EPS performance for the last financial year of the performance period. 25% of the base award will vest if an underlying EPS of 13.0 pence is achieved increasing on a straight-line basis to 100% if an underlying EPS of 16.5 pence is achieved.
 
In accordance with the existing Remuneration Policy, the maximum grant level of up to 150% of each base award may vest subject to the terms and conditions of the Plan.
 
 
Conditional awards granted to persons discharging managerial responsibilities ("PDMR") under the Galliford Try Holdings plc Long Term Incentive Plan 
 
On 13 March 2020, the following conditional awards over ordinary shares of 50 pence each in the Company were granted under the Plan to the following PDMRs, totalling 2,248,829 shares:
 



PDMR


No. of shares under the Award


Vesting date




B Hocking


584,213


13 March 2023




A Duxbury


474,705


13 March 2023




K Corbett


333,066


23 September 2022




I Jubb


363,510


23 September 2022




M Baxter


259,650


23 September 2022




V Skene


233,685


23 September 2022



 
The vesting of any shares subject to the awards and to the performance conditions being met shall be three years from award in the case of Bill Hocking and Andrew Duxbury, and on 23 September 2022 in the case of all other participants.
 
Details of the full notifications received by the Company are set out below.
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Bill Hocking




2


Reason for Notification




a)


Position/status


Chief Executive / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on the third anniversary of grant subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


584,213








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Andrew Duxbury




2


Reason for Notification




a)


Position/status


Finance Director / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on the third anniversary of grant subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


474,705








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Kevin Corbett




2


Reason for Notification




a)


Position/status


General Counsel & Company Secretary / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


333,066








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Ian Jubb




2


Reason for Notification




a)


Position/status


Divisional Managing Director, Building / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


363,510








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Mark Baxter




2


Reason for Notification




a)


Position/status


Divisional Managing Director, Specialist Services / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


259,650








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Vikki Skene




2


Reason for Notification




a)


Position/status


HR Director / PDMR    




b)


Initial notification/Amendment


Initial Announcement




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Galliford Try Holdings plc




b)


LEI


213800MR6DRHCJIV8113




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 in Galliford Try Holdings plc
GB00BKY40Q38




b)


Nature of the transaction


Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met. 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


233,685








d)


Aggregated information
-       Aggregated volume
-       Price


Not applicable - single transaction




e)


Date of the transaction


13 March 2020




f)


Place of the transaction


Outside a trading venue



 
 
 
 
For further enquiries:
 



Galliford Try Holdings plc


Kevin Corbett, General Counsel & Company Secretary 


01895 855001








Clara Melia, Investor Relations


 07748 171 236


















Tulchan Communications 


James Macey White


0207 353 4200








Martin Pengelley












Elizabeth Snow 







 
 
 
Note to Editors
Galliford Try Holdings plc is a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK. 
 


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