27 May 2014 11:48
Low & Bonar plc - Director/PDMR Shareholding
27 May 2014
Vesting of Awards Under Long-term Incentive Plan
The following Directors and Persons Discharging Managerial Responsibility (PDMRs) have been allotted ordinary shares of 5p each in the Company following the vesting of awards made in 2011 under the 2003 Low & Bonar Long-term Incentive Plan after those awards vested as to 42.9% of the total shares comprised in the award:
Name | Number of shares allotted | Percentage of issued share capital |
Mike Holt | 245,572 | 0.08% |
Jan van Boldrik | 130,090 | 0.04% |
Orwig Speltdoorn | 122,307 | 0.04% |
Bart Austin | 48,869 | 0.01% |
The shares were transferred for nil value in accordance with the terms of the original awards. The shares were allotted in the name of Numis Nominees Limited (in the case of Mr Holt) and Wealth Nominees Limited, pending the sales referred to below.
Following allotment, the following individuals sold shares, partly in order to meet tax and other social security contributions due on vesting of the awards, as follows:
Name | Number of shares sold | Percentage of issued share capital | |
Bart Austin | 48,869 | 0.01% | |
Orwig Speltdoorn | 122,307 | 0.04% | |
All shares were sold at the price of 81.736p per share.
Following the allotment and sales referred to above, the holdings of those Directors and PDMRs in the share capital of the company were as follows:
Name | Number of shares | Percentage of issued share capital |
Mike Holt | 612,107 | 0.19% |
Jan van Boldrik | 337,756 | 0.10% |
Bart Austin | 109,741 | 0.03% |
Orwig Speltdoorn | 188,674 | 0.06% |
This notification relates to a transaction notified in accordance with DR 3.1.4R(1)(a).
Name of contact and telephone number for queries:
Mr Matthew Joy: +44 (0) 207 535 3180
Name and signature of duly authorised officer of issuer responsible for making notification.
Matthew Joy, COMPANY SECRETARY