20th Jul 2016 17:17
Change in Directors' interests in the shares of BTG plc ("BTG" or the "Company")
This notification is made in accordance with the Company's obligations under the Market Abuse Regulation.
The following transactions have taken place in relation to the executive directors under the Company's share plans.
2016 Performance Share Plan
On 15 July 2016, the following directors were granted conditional awards ("Awards") under the BTG Performance Share Plan 2016 (the "Plan") which was approved by shareholders at the Annual General Meeting of the Company the preceding day. Louise Makin was granted an Award over 207,535 Ordinary Shares and Rolf Soderstrom was granted an Award over 126,385 ordinary shares of 10 pence each in the Company ("Ordinary Shares).
In each case the Awards were granted over Ordinary Shares equal to 225% of salary at the point of grant, calculated at 704.7p per share (being the average of the mid-market price over the five days immediately prior to the grant date). No consideration was paid for the grant of these Awards.
The Awards will normally vest on 15 July 2019, subject to the satisfaction of the applicable TSR and EPS based performance conditions being met over 3 financial years. The executive directors will then be required to hold the shares (on an after-tax basis) for a further two years.
Sharesave
On 19 July 2016 the Company approved the grant of 691 Ordinary Shares to Louise Makin and 1,729 Ordinary Shares to Rolf Soderstrom under the BTG Sharesave Plan 2009. The grant will be exercisable on 1 September 2019 at a price of 520.53p (being the average of the closing mid-market share prices on 23 - 27 June 2016 less a 20% discount), assuming the three-year savings contract is completed.
The awards are over Ordinary Shares and the ISIN of the Ordinary Shares is GB0001001592.
Enquiries:
Andy Burrows, Vice President, Corporate and Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605
Related Shares:
BTG