Last checked at 28 Mar 2018 12:28
28 March 2018
Forterra plc
Grant under Deferred Annual Bonus Plan
Forterra plc (the "Company") announces that, on 28 March 2018, share option awards over ordinary shares of £0.01 each in the capital of the Company were granted to Executive Directors under the Forterra plc Deferred Annual Bonus Plan ("DABP") as follows:
Name of Director | Number of shares over which the award is granted |
Stephen Harrison | 42,167 |
Shatish Dasani | 34,823 |
Total | 76,990 |
These awards represent the deferral into ordinary shares of part of the Executive Directors' 2017 bonus entitlements under the rules of the Scheme.
No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of £3.014 being an average of the closing mid-market share price for the five days commencing on 14 March 2018 being the date of announcing the Company's 2017 results.
The awards will normally vest on 14 March 2021, subject to the participant being an employee of the Company at that time. Once vested, the award shall normally remain exercisable until the day before the tenth anniversary of the date of grant. Further terms and conditions of the DABP are set out in the Annual Report and Accounts.
The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries
Forterra plc: | +44 (0) 1604 707 600 |
Shatish Dasani (CFO) | |
Ben Guyatt (Company Secretary) |