3 Mar 2014 14:22
LOW & BONAR PLC (the "Company")
This notification is made in accordance with DTR 3.1.4(1)(a).
Nil cost options (each an "Option") or a conditional award (an "Award") were granted over ordinary shares in the Company, 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 on 3 March 2014 as follows:
Director | Number of shares under the Option(1)/Award(2) | Total number of shares held under options and other awards following grant |
Mike Holt, Group Finance Director(1) | 364,810 | 1,769,247 |
Orwig Speltdoorn, Managing Director, Bonar EMEA, and Global Business Director, Civil Engineering(1) | 199,115 | 1,014,246 |
Bart Austin, Managing Director, Bonar NA(2) | 80,886 | 453,365 |
Marc Krauth, Global Business Director, Interiors & Transport (1) | 78,488 | 308,531 |
Clark Halladay, Global Business Director, Building & Industrial(2) | 58,684 | 58,684 |
No consideration was paid for the grant of any Option or Award.
Each Option and each Award will normally vest 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. 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.
In addition to the Options referred to above, under the terms of the Company's Save As You Earn Scheme, the following options are also held:
Director | Number of shares under the Option |
Mike Holt | 36,039 |
Orwig Speltdoorn | 13,229 |
Bart Austin | 15,316 |
For further information, please contact:
Low & Bonar PLC
Matthew Joy, Company Secretary 020 7535 3180