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Last checked at 
10 Jun 2020 12:45
Costain Group PLC ("Costain" or the "Company")
Transactions in shares by Persons Discharging Managerial Responsibilities ("PDMRs")
This announcement is made in relation to awards granted under the Costain Group PLC 2014 Long Term Incentive Plan ("the LTIP") and 2014 Share Deferral Plan ("the SDP"). These awards are structured as nil cost options over a certain number of shares ("Awards").
Following the completion of the Capital Raising announced by the Company on 7 May 2020 and pursuant to the rules of the LTIP and SDP, the Company's Remuneration Committee has determined that certain adjustments should be made to the number of shares under the Awards and, for the LTIP, to the Earnings Per Share ("EPS") performance targets. Details of the adjustments in respect of Awards held by directors of the Company, which have made on the same basis as to all participants with outstanding awards, are set out below.
LTIP
Name of Director | Date of Grant | Number of shares under Award before adjustment | Number of shares under Award after adjustment | EPS performance conditions prior to adjustment
| EPS performance conditions after adjustment
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| Aggregate EPS targets over the three financial years commencing with the year of grant
| Vesting of portion of Awards subject to the EPS measure
| Aggregate EPS targets over the three financial years commencing with the year of grant
| Vesting of that portion of Awards subject to EPS measure |
Alex Vaughan
|
04 April 2018
07 May 2019 |
20,130
130,769 |
21,388
138,942 |
117.2 pence 15% 128.9 pence or more 100% 117.2 to 128.9 pence 15% to 100% on a straight line basis
128.2 pence 15% 141.0 pence or more 100% 128.2 to 141.0 pence 15% to 100% on a straight line basis |
99.44 pence 15% 109.37 pence or more 100% 99.44 to 109.37 pence 15% to100% on a straight line basis
108.77 pence 15% 119.63 pence or more 100% 108.77 to 119.63 pence 15% to 100% on a straight line basis | ||
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Tony Bickerstaff
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09 March 2015
06 April 2016
04 April 2018
07 May 2019 |
51,098 (incl. known dividend shares)
43,956
69,370
100,368 |
54,291
46,703
73,705
106,641 |
N/A (Remaining 50% of original award vested 5 years from grant but unexercised)
N/A (Remaining 50% of original award to vest 5 years from grant)
117.2 pence 15% 128.9 pence or more 100% 117.2 to 128.9 pence 15% to 100% on a straight line basis
128.2 pence 15% 141.0 pence or more 100% 128.2 to 141.0 pence 15% to 100% on a straight line basis |
N/A (Remaining 50% of original award vested 5 years from grant but unexercised)
N/A (Remaining 50% of original award to vest 5 years from grant)
99.44 pence 15% 109.37 pence or more 100% 99.44 to109.37 pence 15% to100% on a straight line basis
108.77 pence 15% 119.63 pence or more 100% 108.77 to 119.63 pence 15% to 100% on a straight line basis | ||
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SDP
Name of Director | Date of Grant | Number of shares under Award before adjustment | Number of shares under Award after adjustment |
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Alex Vaughan
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04 April 2018
03 April 2019 |
21,963 (incl. known dividend shares)
16,076 |
23,335
17,080 |
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Tony Bickerstaff
|
04 April 2018
03 April 2019 |
49,717 (incl. known dividend shares)
29,225
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52,824
31,051
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10 June 2020
Enquiries: |
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Costain Group PLC | Tel: 01628 842 444 |
Tracey Wood, Company Secretary |
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MHP CommunicationsTim Rowntree, Peter Hewer | Tel: 020 3128 8100 costain@mhpc.com
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