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26 Sep 2016 18:00
26 September 2016 |
GB GROUP PLC
("GBG" or the "Company")
Notification of Directors' Interests
Richard Law
The Company announces that Richard Law (GBG's retiring Chief Executive Officer) has today notified the Company that he has exercised options over a total of 243,458 Ordinary Shares awarded in 2013 under GBG's Share Matching Scheme*.
Following this and the transaction detail below, Mr Law has increased his beneficial holding to 1,429,237 Ordinary Shares (which represents 1.07% of the issued share capital of the Company) and continues to have options over a maximum of 653,536 Ordinary Shares.
In line with the usual practice, he sold 134,250 of the Ordinary Shares exercised at an average price of 348.112 pence per share to cover the exercise costs incurred and tax liabilities arising in respect of the exercise of these options.
Dave Wilson
The Company also announces that Cath Wilson, the wife of Dave Wilson (GBG's Group Finance & Operations Director) has sold 50,000 Ordinary Shares at an average price of 346.642 pence per share.
Following this notification, Mr. Wilson has a beneficial holding of 245,592 Ordinary Shares (which represents 0.18% of the issued share capital of the Company) and continues to have options over a maximum of 914,862 Ordinary Shares.
* Note:
Share Matching Scheme
The exercise of these options is in accordance with the rules of GBG's Share Matching Scheme (the "Scheme"). Under the Scheme, the executive directors and certain senior managers have the annual opportunity to elect to invest up to 20% of their annual salary and up to 80% of their annual bonus in ordinary shares at market price. Subject to their continued employment, the retention of these shares and the meeting of a demanding financial performance target, the investment will be matched on a gross basis by matching shares issued at an exercise price of 2.5 pence per share.
The principle qualification for vesting of the options detailed above was a growth in adjusted earnings per share ("EPS") of at least 25% per annum compounded over 3 financial years. The actual compound growth in EPS over the period was 31% per annum. The Scheme requires that the options are exercised within 1 year of vesting. The options vested on 8 June 2016 when the Group's annual results for the year ended 31 March 2016 were announced.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a. | Name | Cath Wilson | ||||||||
2. | Reason for the notification | |||||||||
a. | Position/status | PCA of PDMR (Dave Wilson) | ||||||||
b. | Initial notification /Amendment | Initial notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a. | Name | GB Group plc | ||||||||
b. | LEI | N/A | ||||||||
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 | |||||||||
a. | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5 pence
GB0006870611 | ||||||||
b. | Nature of the transaction | Sale of shares
| ||||||||
c. | Price(s) and volume(s) |
| ||||||||
d. | Aggregated information · Aggregated volume · Price
|
50,000 346.642p | ||||||||
e. | Date of the transaction | 2016-09-26; 11:31 UTC | ||||||||
f. | Place of the transaction | London Stock Exchange | ||||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a. | Name | Richard Law | ||||||||||
2. | Reason for the notification | |||||||||||
a. | Position/status | Chief Executive Officer | ||||||||||
b. | Initial notification /Amendment | Initial notification | ||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a. | Name | GB Group plc | ||||||||||
b. | LEI | N/A | ||||||||||
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 | |||||||||||
a. | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5 pence
GB0006870611 | ||||||||||
b. | Nature of the transaction | Acquisition of shares following the exercise of options awarded in 2013 under GBG's Share Matching Scheme. | ||||||||||
c. | Price(s) and volume(s) |
| ||||||||||
d. | Aggregated information · Aggregated volume · Price
|
243,458 N/A | ||||||||||
e. | Date of the transaction | 2016-09-26 | ||||||||||
f. | Place of the transaction | London Stock Exchange | ||||||||||
5. | 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 | |||||||||||
a. | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5 pence
GB0006870611 | ||||||||||
b. | Nature of the transaction | Sale of Shares to cover the exercise costs incurred and tax liabilities arising in respect of the exercise options. | ||||||||||
c. | Price(s) and volume(s) |
| ||||||||||
d. | Aggregated information · Aggregated volume · Price
|
134,250 348.1117p | ||||||||||
e. | Date of the transaction | 2016-09-26; 11:31 UTC | ||||||||||
f. | Place of the transaction | London Stock Exchange | ||||||||||
- Ends-
For further information, please contact:
GB Group plc John Constantin, Company Secretary
| 01244 657333 |
Peel Hunt LLP (Nominated Adviser and Broker) Richard Kauffer Euan Brown
| 020 7418 8900 |
Website | www.gbgplc.com |
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