Last checked at 26 Apr 2017 16:00
26 April 2017
Forterra plc
Grant under Performance Share Plan
Forterra plc (the "Company") announces that on 25 April awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain Directors and persons discharging managerial responsibility ("PDMRs") under the Forterra plc Performance Share Plan ("PSP") as follows:
Name of Director / PDMR | Number of Shares over which the Award is granted |
Stephen Harrison | 241,534 |
Shatish Dasani | 144,921 |
Benjamin Guyatt | 42,269 |
Matthew Clay | 33,500 |
George Stewart | 33,500 |
Adam Smith | 33,500 |
Edward Haslam | 33,500 |
Other management | 97,400 |
Total | 660,124 |
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 211.15 pence being an average mid-market quotation as derived from the London Stock Exchange Daily Official List for the last 5 days of trading.
The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company. The awards will normally vest on 25 April 2020, subject to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time. Further information regarding the PSP is 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) |
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Benjamin Guyatt (Company Secretary) |
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FTI Consulting (public relations adviser to Forterra): | +44 (0) 20 3727 1340 |
Richard Mountain |
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Nick Hasell |
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Forterra plc
Further information relating to the Company and its group can be found at www.forterraplc.co.uk