23 Apr 2019 15:00
23 April 2019
John Laing Group plc (the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated with them in accordance with the Market Abuse Regulations.
Acquisitions and related disposals under the Long-Term Incentive Plan
On 16 April 2019, ordinary shares of 10 pence each in the capital of the Company were acquired under the John Laing Group plc Long-Term Incentive Plan 2015 (the "LTIP") and sold by PDMRs at a price of 398.9438p per share as set out below. The acquisitions and sales relate to the exercise of nil-cost options (or in the case of Anthony Phillips, who is resident in the US, the settlement of a conditional award) granted under the LTIP on 16 April 2016 which vested at the end of a three-year period in accordance with the satisfaction of performance targets set out in the LTIP.
PDMR | No. of shares acquired under the LTIP | No. of shares sold | No. of shares retained |
Olivier Brousse | 364,009 | 171,428 | 192,581 |
Patrick O'D Bourke | 241,627 | 113,793 | 127,834 |
Justin Bailey | 109,700 | 82,275 | 27,425 |
Romina Dawson-Hall | 47,164 | 47,164 | 0 |
Anthony Phillips | 104,664 | 36,266 | 68,398 |
Mark Westbrook | 33,863 | 15,948 | 17,915 |
The shares sold by Olivier Brousse and Patrick O'D Bourke related to discharge of the tax liability arising upon the vesting of the LTIP share award. The balance of the shares acquired under their awards are subject to a two year post vesting holding period.
Acquisitions and related disposals under the Deferred Share Bonus Plan
On 18 April 2019, ordinary shares of 10 pence each in the capital of the Company were acquired under the John Laing Group plc Deferred Share Bonus Plan (the "DSBP") and sold by PDMRs at a price of 383.20p per share as set out below. The acquisitions and sales relate to the exercise of the first tranche of the nil-cost options (or, in the case of Anthony Phillips, the settlement of the first tranche of a conditional award) granted under the DSBP on 18 April 2018. Awards under the DSBP vest in equal tranches on the first, second and third anniversary of grant, subject to continued employment.
PDMR | No. of shares acquired under the DSBP | No. of shares sold | No. of shares retained |
Olivier Brousse | 9,881 | 4,654 | 5,227 |
Patrick O'D Bourke | 6,019 | 2,835 | 3,184 |
Justin Bailey | 2,851 | 2,851 | 0 |
Anthony Phillips | 6,742 | 6,742 | 0 |
The shares sold by Olivier Brousse and Patrick O'D Bourke related to discharge of the tax liability arising upon the vesting of the DSBP award.
Details of the full notifications received by the Company are set out below.
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Olivier Brousse
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Chief Executive Officer
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Deferred Share Bonus Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under DSBP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Deferred Share Bonus Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Patrick O'Donnell Bourke
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Group Finance Director
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Deferred Share Bonus Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under DSBP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Deferred Share Bonus Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Justin Bailey
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Regional Managing Director - Asia Pacific
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Deferred Share Bonus Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under DSBP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Deferred Share Bonus Plan 2015. Sufficient sales for tax liability and disposal of balance of shares.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Romina Dawson-Hall
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Group Human Resources Director
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability and disposal of balance of shares.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Anthony Phillips
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Regional Managing Director - North America
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the vesting of a conditional award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the vesting of a conditional award under the John Laing Group plc Deferred Share Bonus Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Acquisition under DSBP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Deferred Share Bonus Plan 2015. Sufficient sales for tax liability and disposal of balance of shares.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 18 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1 |
Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) |
Name |
Mark Westbrook
| ||||
2 |
Reason for the notification
| |||||
a) |
Position/status |
Chief Risk Officer
| ||||
b) |
Initial notification/Amendment |
Initial Announcement
| ||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) |
Name |
John Laing Group plc
| ||||
b) |
LEI |
213800GLLXRSIIKN6I12
| ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Acquisition of ordinary shares upon the exercise of a nil cost option award under the John Laing Group plc Long-Term Incentive Plan 2015.
| ||||
c) |
Price(s) and volume(s)
Vesting of Shares - LTIP
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 16 April 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 10 pence each in John Laing Group plc
GB00BVC3CB83
| ||||
b) | Nature of the transaction | Disposal of ordinary shares acquired on the settlement of an award under the John Laing Group plc Long-Term Incentive Plan 2015. Sufficient sales for tax liability only.
| ||||
c) |
Price(s) and volume(s)
Disposal of Shares
|
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single Transaction) | ||||
e) | Date of the transaction | 17 April 2019 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
Enquiries:
Clare Underwood
Group Company Secretary
John Laing Group plc
1 Kingsway
London
WC2B 6AN
Tel: 020 7901 3300