28 Mar 2017 07:00
LOW & BONAR PLC (the "Company")
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Grant of Options
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The Company announces that on 24 March 2017 Computershare Trustees (Jersey) Limited, the trustee of the Low & Bonar PLC 1995 Employees Share Ownership Plan Trust (the Trustee) granted nil cost options (each an 'Option') or a conditional award (an `Award`) under the terms of the 2013 Low & Bonar Long Term Incentive Plan (the 'Plan') to directors and persons discharging managerial responsibilities ('PDMR') of the Company;
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Number of shares under the Option(1)/Award(2) | Total number of shares held under options and other awards following grant | |
Brett Simpson (1) Group Chief Executive Officer | 749,506 | 2,277,191 |
Jan van Boldrik (1) Global Business Director, Sports & Leisure | 98,895 | 182,518 |
Clark Halladay (2) Global Business Director, Building & Industrial | 185,107 | 392,777 |
Gareth Kaminski-Cook (1) Global Business Director, Interior & Transportation | 209,051 | 626,349 |
Marc Krauth (1) Global Business Director, Coated Technical Textiles | 174,423 | 399,970 |
Neal Ryan (1) Global Business Director Civil Engineering | 194,466 | 551,436 |
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No consideration was paid for the grant of any Option or Award.
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Each Option and each award is subject to challenging financial (eg. Adjusted EPS) and total shareholder return performance targets tested over three years. 20% of awards will vest for threshold performance, with full vesting taking place for equaling, or exceeding, the maximum performance targets. Vesting of each Option and each Award will normally take place on the third anniversary of grant subject to the continued employment of the participant and the satisfaction of performance conditions set by the Remuneration Committee of the Company.
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To the extent that the Options vest, the participant may call for shares during a period of five years from the date of vesting (or such longer period as the Remuneration Committee of the Company may allow). On or as soon as reasonably practicable after the Vesting of an Award, the Company shall transfer or procure the transfer of the vested shares to the participant.
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1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Brett Simpson | ||||
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 | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 749506 聽 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Clark Halladay | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 聽Identification code | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 185107 聽 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Gareth Kaminski - Cook | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 209051 聽 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Marc Krauth | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 聽Identification code | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 聽 174423 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Neil Ryan | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 194466 聽 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Jan van Boldrik | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
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d. | Aggregated information 路 Aggregated volume 路 Price | 98895 聽 Nil | ||||
e. | Date of the transaction | 2017/03/24 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
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28 March 2017
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For further information, please contact:
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Low & Bonar PLC
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Jeremy Rhodes, Interim Company Secretary 020 7535 3185