Last checked at 5 Jul 2019 12:44
ASHTEAD GROUP PLC - Director/PDMR ShareholdingASHTEAD GROUP PLC - Director/PDMR Shareholding
PR Newswire
London, July 5
Ashtead Group plc
5th July 2019
ASHTEAD GROUP PLC
Director / PDMR Shareholding
Ashtead Group plc (the “Company”) announces that on 4 July 2019 it made the annual awards for 2019 to 212 senior executives under its Performance Share Plan (“PSP”).
Awards under the PSP comprise the conditional right to receive ordinary shares of 10p each, which for the directors ordinarily vest on the fifth anniversary of grant for awards made in and after 2017. Vesting of awards is subject to continued employment and the achievement of challenging performance targets set by the Remuneration Committee. The Company intends to utilise shares held by the Group’s Employee Share Ownership Trust to fulfil any obligations to award shares to employees, which may arise.
The following awards were made to the executive directors:
| Director | Number of ordinary 10p shares covered by the award |
| Brendan Horgan | 70,600 |
| Michael Pratt | 30,550 |
The exercise price for the above awards is GBP1 for all ordinary shares to which the award relates. No consideration was paid for the grant of any of these awards.
The Company further announces that the awards made to its executive directors in July 2016 vested on 4 July 2019.
As a result of the vesting of the 2016 award the directors received the following number of ordinary 10p shares:
| Director | Number of ordinary 10p shares received |
| Brendan Horgan | 93,584 |
| Michael Pratt | 34,995 |
Brendan Horgan and Michael Pratt sold 46,792 and 16,448 ordinary 10p shares respectively on 4 July 2019 at 2320p per share to fund the tax payable on the exercise and retained the balance of the shares.
The directors’ total shareholdings are:
| Director | Number of ordinary 10p shares | Percentage of issued Share capital* |
| Brendan Horgan | 400,884 | 0.09 |
| Michael Pratt | 271,086 | 0.06 |
*Excluding treasury shares.
Contact:
Eric Watkins
Tel: 020 7726 9740