19 Jun 2018 16:43
Change in Directors' interests in the shares of BTG plc ("BTG" or the "Company")
This notification is made in accordance with the Company's obligations under the Market Abuse Regulation.
The following transactions have taken place in relation to the executive directors under the Company's share plans.
2016 Performance Share Plan
On 18 June 2018, the following directors were granted conditional awards ("Awards") under the BTG Performance Share Plan 2016 (the "Plan"). Louise Makin was granted an Award over 284,038 Ordinary Shares and Duncan Kennedy was granted an Award over 155,215 ordinary shares of 10 pence each in the Company ("Ordinary Shares").
In each case the Awards were granted over Ordinary Shares equal to 225% of salary at the point of grant, calculated at 543.6p per share (being the average of the mid-market price over the five days immediately prior to the grant date). No consideration was paid for the grant of these Awards.
The Awards will normally vest on 18 June 2021, subject to the satisfaction of the applicable TSR and EPS based performance conditions being met over three financial years. The executive directors will then be required to hold any shares vesting (on an after-tax basis) for a further two years.
Deferred Share Bonus Plan
The Company has awarded bonuses to its executive directors. The bonus is paid as a mix of cash and shares, with the first 75% of salary of any bonus being paid in cash, with any bonus in excess of 75% of salary being awarded in shares under the Company's Deferred Share Bonus Plan. For 2018 this comprises 33,992 shares for Louise Makin and 4,759 shares for Duncan Kennedy. Under the terms of the Plan these shares will normally be released in full to the directors only after a further three years' service.
Notification and public disclosure of transactions by persons discharging managerial responsibilities.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
a)
| Name
|
Louise Makin | ||||||
2
| Reason for the notification
| |||||||
a)
| Position/status
| CEO, Director | ||||||
b)
| Initial notification /Amendment
| Initial Notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
a)
| Name
| BTG plc | ||||||
b)
| LEI
| 213800DCVRNVRVINH968 | ||||||
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
| |||||||
1
| Description of the financial instrument, type of instrument | Ordinary Shares of 10p | ||||||
Identification code | GB0001001592 | |||||||
| ||||||||
Nature of the transaction
| Grant of conditional awards under the Company's Performance Share Plan 2016 | |||||||
Price(s) and volume(s) |
|
|
|
| ||||
| Price(s) | Volume(s) | Total |
| ||||
| £0 | 284,038 | £0 |
| ||||
|
|
|
| |||||
Aggregated information | ||||||||
- Aggregated Volume | 284,038 | |||||||
- Price | £0 | |||||||
Date of the transaction
| 18 June 2018 | |||||||
Place of the transaction
| Outside a trading venue | |||||||
2.
| Description of the financial instrument, type of instrument | Ordinary Shares of 10p | ||||||
Identification code | GB0001001592 | |||||||
| ||||||||
Nature of the transaction
| Grant of awards under the Company's Deferred Share Bonus Plan | |||||||
Price(s) and volume(s) |
|
|
|
| ||||
| Price(s) | Volume(s) | Total |
| ||||
| £0 | 33,992 | £0 |
| ||||
|
|
|
| |||||
Aggregated information | ||||||||
- Aggregated volume | 33,992 | |||||||
- Price | £0 | |||||||
Date of the transaction
| 18 June 2018 | |||||||
Place of the transaction
| Outside a trading venue | |||||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
a)
| Name
|
Duncan Kennedy | ||||||
2
| Reason for the notification
| |||||||
a)
| Position/status
| CFO, Director | ||||||
b)
| Initial notification /Amendment
| Initial Notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
a)
| Name
| BTG plc | ||||||
b)
| LEI
| 213800DCVRNVRVINH968 | ||||||
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
| |||||||
1.
| Description of the financial instrument, type of instrument | Ordinary Shares of 10p | ||||||
Identification code | GB0001001592 | |||||||
| ||||||||
Nature of the transaction
| Grant of conditional awards under the Company's Performance Share Plan 2016 | |||||||
Price(s) and volume(s) |
|
|
|
| ||||
| Price(s) | Volume(s) | Total |
| ||||
| £0 | 155,215 | £0 |
| ||||
|
|
|
| |||||
Aggregated information | ||||||||
-Aggregated volume |
155,215 | |||||||
- Price | £0 | |||||||
Date of the transaction
| 18 June 2018 | |||||||
Place of the transaction
| Outside a trading venue | |||||||
2.
| Description of the financial instrument, type of instrument | Ordinary Shares of 10p | ||||||
Identification code | GB0001001592 | |||||||
| ||||||||
Nature of the transaction
| Grant of awards under the Company's Deferred Share Bonus Plan | |||||||
Price(s) and volume(s) |
|
|
|
| ||||
| Price(s) | Volume(s) | Total |
| ||||
| £0 | 4,759 | £0 |
| ||||
|
|
|
| |||||
Aggregated information | ||||||||
- Aggregated volume | 4,759 | |||||||
- Price | £0 | |||||||
Date of the transaction
| 18 June 2018 | |||||||
Place of the transaction
| Outside a trading venue | |||||||
Enquiries:
Andy Burrows, Vice President, Corporate and Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605