Last checked at 10 Apr 2024 15:18
10 April 2024
The Weir Group PLC
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs") and Persons Closely Associated with them
The Weir Group PLC (the "Company") hereby announces that the last tranche of various restricted share awards over ordinary shares in the Company that were made in 2019 under The Weir Group Share Reward Plan vested on 9 April 2024 and were subsequently released to each of the PDMRs listed below on the same day, together with additional shares in respect of dividend equivalent payments. A portion of the shares acquired by each of the PDMRs was then sold automatically to cover each PDMR's tax liability in respect of acquisition of shares following the vesting of the share awards.
PDMR | Shares vested | Dividend equivalent shares received | Total shares received | Shares sold to cover tax liability | Total shares acquired |
Rosemary McGinness | 3,820 | 227 | 4,047 | 2,029 | 2,018 |
Andrew Neilson | 4,145 | 246 | 4,391 | 2,202 | 2,189 |
Jon Stanton | 12,743 | 768 | 13,511 | 6,367 | 7,144 |
Graham Vanhegan | 3,846 | 230 | 4,076 | 1,869 | 2,207 |
This notification relates to a transaction notified in accordance with the Market Abuse Regulation, further details below:
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||
a) | Name | Rosemary McGinness | |||||
2. | Reason for the notification | ||||||
a) | Position/status | Chief People Officer | |||||
b) | Initial notification/ Amendment | Initial Notification | |||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | The Weir Group PLC | |||||
b) | LEI | 549300KDR56WHY9I3D10 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||
Transaction 1 - share vesting | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Vesting of award granted in 2019 under The Weir Group Share Reward Plan, including dividend equivalent shares. Following vesting there is a requirement to retain the vested shares for a period of two additional years during which the PDMR is not entitled to sell the shares or otherwise deal with them, other than a sale to cover the tax liabilities arising on vesting. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | Outside a trading venue | |||||
Transaction 2 - sale of shares to cover tax | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Sale of ordinary shares to cover the tax arising on the vesting of an award made in 2019 under The Weir Group Share Reward Plan. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | London Stock Exchange Main Market (XLON) | |||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||
a) | Name | Andrew Neilson | |||||
2. | Reason for the notification | ||||||
a) | Position/status | Division President | |||||
b) | Initial notification/ Amendment | Initial Notification | |||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | The Weir Group PLC | |||||
b) | LEI | 549300KDR56WHY9I3D10 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||
Transaction 1 - share vesting | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Vesting of award granted in 2019 under The Weir Group Share Reward Plan, including dividend equivalent shares. Following vesting there is a requirement to retain the vested shares for a period of two additional years during which the PDMR is not entitled to sell the shares or otherwise deal with them, other than a sale to cover the tax liabilities arising on vesting. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | Outside a trading venue | |||||
Transaction 2 - sale of shares to cover tax | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Sale of ordinary shares to cover the tax arising on the vesting of an award made in 2019 under The Weir Group Share Reward Plan. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | London Stock Exchange Main Market (XLON) | |||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||
a) | Name | Jon Stanton | |||||
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 | The Weir Group PLC | |||||
b) | LEI | 549300KDR56WHY9I3D10 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||
Transaction 1 - share vesting | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Vesting of award granted in 2019 under The Weir Group Share Reward Plan, including dividend equivalent shares. Following vesting there is a requirement to retain the vested shares for a period of two additional years during which the PDMR is not entitled to sell the shares or otherwise deal with them, other than a sale to cover the tax liabilities arising on vesting. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | Outside a trading venue | |||||
Transaction 2 - sale of shares to cover tax | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Sale of ordinary shares to cover the tax arising on the vesting of an award made in 2019 under The Weir Group Share Reward Plan. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | London Stock Exchange Main Market (XLON) | |||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||
a) | Name | Graham Vanhegan | |||||
2. | Reason for the notification | ||||||
a) | Position/status | Chief Legal Officer and Company Secretary | |||||
b) | Initial notification/ Amendment | Initial Notification | |||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | The Weir Group PLC | |||||
b) | LEI | 549300KDR56WHY9I3D10 | |||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||
Transaction 1 - share vesting | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Vesting of award granted in 2019 under The Weir Group Share Reward Plan, including dividend equivalent shares. Following vesting there is a requirement to retain the vested shares for a period of two additional years during which the PDMR is not entitled to sell the shares or otherwise deal with them, other than a sale to cover the tax liabilities arising on vesting. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | Outside a trading venue | |||||
Transaction 2 - sale of shares to cover tax | |||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each fully paid
GB0009465807 | |||||
b) | Nature of the transaction | Sale of ordinary shares to cover the tax arising on the vesting of an award made in 2019 under The Weir Group Share Reward Plan. | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price | N/A Single transaction | |||||
e) | Date of the transaction | 9 April 2024 | |||||
f) | Place of the transaction | London Stock Exchange Main Market (XLON) | |||||
For further information, please contact:
Graham Vanhegan
Company Secretary
Telephone: 0141 308 3771