23 Mar 2020 17:41
23 March 2020
Forterra plc
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 15 March 2020 of share options granted to Executive Directors under the 2017 Deferred Annual Bonus Plan ("DABP"), the Company was notified on the 19 March 2020 that on 19 March 2020 the following exercise and sale transactions took place:
Stephen Harrison, Chief Executive Officer exercised options granted under the DABP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities with the balance being retained.
Name | Status | No. of shares exercised | Sale Date | Number of shares sold | Price | Number of shares retained | Beneficial interest | % of ISC |
Stephen Harrison | PDMR | 48,039 | 19/3/20 | 22,658 | £1.92 | 25,381 | 173,246 | < 1% |
The 2017 DABP awards represent the deferral into ordinary shares of part of the Executive Directors' 2016 bonus entitlements under the rules of the scheme subject to the participant being an employee at the time of vesting. No consideration was paid for the grant of the awards which are structured as nominal (1p) cost options although this sum was waived by the Company on exercise. The number of options exercised also includes a dividend equivalent in addition to the options initially granted in accordance with the rules of the scheme.
No new shares were issued in respect of these transactions with shares being transferred to the individuals from the Forterra Employee Benefit Trust.
The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries
Forterra plc: | +44 (0) 1604 707 600 |
Ben Guyatt (CFO) Ashley Thompson (Company Secretary) | |
FTI Consulting: | +44 (0) 20 3727 1340 |
Richard Mountain/Nick Hasell |
Further information relating to the Company and its group can be found at www.forterraplc.co.uk.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Stephen Harrison | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | PDMR (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 | Forterra plc | ||||||||
b) | LEI | 5299007SD2PDQMKM5278 | ||||||||
4. | Details of the transaction(s): | |||||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 1p each
GB00BYYW3C20 | ||||||||
b) | Nature of the transaction | Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the DABP scheme on 24 March 2017 and vesting on 15 March 2020 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information |
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Forterra (FORT)