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8 Jun 2016 07:00
08 June 2016
North Midland Construction Group PLC
Performance Share Plan Awards
North Midland Construction PLC ("North Midland Construction" or "the Company")) announces that the following share awards over ordinary shares of 10p each in the Company ("Shares") were yesterday granted under the North Midland Construction PLC Performance Share Plan ("PSP"):
Director | Position | Number of Share Awards Granted |
John Homer | Chief Executive | 196,363 |
Dan Taylor | Finance Director | 103,374 |
Andy Langman | Executive Director | 103,374 |
Stuart Proud | Executive Director | 103,374 |
The PSP was approved by the Company's shareholders at the Company's AGM on 19 May 2016.
These awards are subject to a performance condition which will be based on the Company's aggregate adjusted profit before tax and which will be measured over the 3 financial years of the Company 2016, 2017 and 2018. The normal vesting date for these awards will be 7 June 2019, subject to the satisfaction of the performance condition.
The number of shares within the awards shown above (which allow for the acquisition of shares at nil-cost to the extent that the performance condition is achieved) were calculated using the Company's 3-day average share price to the close of business on 6 June 2016 (137.5 pence).
For further information please contact:
North Midland Construction Group PLC - 01623 515 008
Robert Moyle, Chairman
John Homer, Chief Executive
Dan Taylor, Finance Director
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