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12 Dec 2017 16:28
Grainger plc
("Grainger" or the "Company")
GRAINGER PLC DEFERRED BONUS SHARE PLAN AND GRANT OF OPTIONS TO DIRECTORS/PDMRs
The Company announces that it has adopted a new Deferred Bonus Share Plan ("DBSP") in accordance with its Remuneration Policy approved by shareholders at the 2017 Annual General Meeting. The DBSP introduces the compulsory deferral of 25% of any bonus payable to participants into shares for a period of three years. Initial grants of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the DBSP were made on 11 December 2017.
Grant of Options
On 11 December 2017, Grainger granted Options of a total of 63,751 Shares to its Directors and Persons Discharging Managerial Responsibilities ("PDMRs") for the Company (as specified in the table below).
Director | Position | No. of shares under 2017 DBSP |
Helen Gordon | Chief Executive Officer | 34,051 |
Vanessa Simms | Chief Financial Officer | 20,974 |
John Kenny | Chief Operating Officer | 8,726 |
Vesting of the Options is not subject to any performance conditions and the only condition is the three-year holding period applied under the rules of the DBSP.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
| Details of the person discharging managerial responsibilities / person closely associated | ||
a)
| Names | Helen Gordon | |
2
| Reason for the notification | ||
a)
| Position/status
| Chief Executive Officer, Director | |
b)
| Initial notification | Initial Notification
| |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a)
| Name
| Grainger plc | |
b) | LEI | 2138007CEIRKZMNI2979
| |
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
| Ordinary Shares of 5p each in Grainger plc | |
b) | Identification code
| GB00B04V1276 | |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc Deferred Bonus Share Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date. | |
d)
| Price and volumes | Price - Nil Volume: 34,051 Ordinary Shares | |
d)
| Aggregated information - Aggregated volume - Price |
N/A
| |
e)
| Date of the transaction | 11 December 2017 | |
f) | Place of the transaction | Outside a trading venue | |
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Vanessa Simms
|
2
| Reason for the notification | |
a)
| Position/status
| Chief Financial Officer, Director |
b)
| Initial notification
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Grainger plc |
b)
| LEI | 2138007CEIRKZMNI2979 |
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 | Ordinary Shares of 5p each in Grainger plc |
b) | Identification code
| GB00B04V1276 |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc Deferred Bonus Share Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date.
|
d)
| Price and volumes | Price - Nil Volumes: 20,974 Ordinary Shares
|
d)
| Aggregated information - Aggregated volume - Price |
N/A
|
e)
| Date of the transaction | 11 December 2017 |
f) | Place of the transaction | Outside a trading venue |
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | John Kenny |
2
| Reason for the notification | |
a)
| Position/status
| Chief Operating Officer, PDMR |
b)
| Initial notification
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Grainger plc |
b)
| LEI | 2138007CEIRKZMNI2979 |
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
| Ordinary Shares of 5p each in Grainger plc |
b) | Identification code
| GB00B04V1276 |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc Deferred Bonus Share Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date. |
d)
| Price and volumes | Price - Nil Volumes: 8,726 Ordinary Shares |
d)
| Aggregated information - Aggregated volume - Price |
N/A
|
e)
| Date of the transaction | 11 December 2017 |
f) | Place of the transaction | Outside a trading venue |
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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