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Director/PDMR Shareholding

5 Jul 2013 07:00

RNS Number : 6674I
Mears Group PLC
05 July 2013
 



Mears Group PLC

("Mears" or the "Company")

5 July 2013

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with DTR 3.1.2 R

The Company was notified on 4 July 2013 that David Miles, Chief Executive of Mears, had exercised share options over 292,504 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.

 

Date of grant

 

 

Scheme Type

Number of Ordinary Shares over which options were exercised

Exercise price per Ordinary Share (pence)

 

1 April 2004

Unapproved

30,453

1p

 

8 April 2005

Unapproved

7,220

1p

 

21 April 2006

Approved

10,000

300p

 

21 April 2006

Unapproved

6,087

1p

 

28 September 2007

Unapproved

50,045

1p

 

20 March 2008

Unapproved

151,149

1p

 

13 October 2008

LTIP

26,550

1p

 

28 October 2009

LTIP

11,000

1p

 

The Company was notified on 4 July 2013 that Alan Long, Executive Director of Mears, had exercised share options over 143,122 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.

 

Date of grant

 

 

Scheme Type

Number of Ordinary Shares over which options were exercised

Exercise price per Ordinary Share (pence)

 

21 April 2006

Approved

10,000

300p

 

21 April 2006

Unapproved

6,087

1p

 

28 September 2007

Unapproved

20,018

1p

 

20 March 2008

Unapproved

75,575

1p

 

13 October 2008

LTIP

26,550

1p

 

28 October 2009

LTIP

4,892

1p

 

On 4 July 2013, the Company was also informed that Mr Miles on 3 July 2013 sold 227,484 Ordinary Shares, at an average price of 387.31 pence per share. A significant part of the funds raised was to fund the cost of exercise together with the associated tax charge.

On 4 July 2013, the Company was also informed that Mr Long on 3 July 2013 sold 81,000 Ordinary Shares, at an average price of 387.31 pence per share, entirely funding the cost of exercise together with the significant associated tax charge.

As a result of these transactions:

·; Mr Miles has increased his interest in the Ordinary Shares of the Company from 110,000 to 175,020

·; Mr Long has increased his interest in the Ordinary Shares of the Company from 4,108 to 66,230

 

Mr Miles and Mr Long also have interests in share options under the LTIP scheme over 177,980 and 109,088 shares respectively. The options issued under the LTIP scheme are subject to the achievement of EPS and TSR performance conditions.

 

The exercise and disposal of the Ordinary Shares made by Mr Miles and Mr Long were in accordance with the trading plans Mr Miles and Mr Long entered into on the 28 June 2013.

 

Enquiries:

 

 

Mears Group PLC

David Miles, Chief Executive

Tel: +44(0)7778 220 185

Joint Broker - Investec

Keith Anderson/Daniel Adams

Tel: +44(0)20 7597 5970

Joint Broker - Canaccord Genuity

Piers Coombs/Lucy Tilley

Tel: +44(0)20 7523 8350

IR - Gable Communications

Tel: +44(0) 20 7193 7463

John Bick/Justine James

 

Tel: +44(0)7872 061 007

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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