7th Sep 2010 17:00
A. Notification of Interests in Shares
1) Awards under the BG Group PLC long term incentive PLAN 2008 (LTIp)
BG Group plc (the "Company") has today received notification from the following Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") that, on 7 September 2010, they were each granted the following Performance Share Awards ("Awards"), in the form of nil cost options* under the rules of the LTIP:
|
Name |
Number of ordinary shares of 10p each ("Shares") over which Award granted on 7 September 2010 |
Total number of Shares over which awards held under the LTIP |
|
|
|
Executive Directors |
|
|
|
|
|
Frank Chapman |
644,526 |
1,867,166 |
|
|
|
Ashley Almanza |
263,991 |
758,939 |
|
|
|
Martin Houston |
236,328 |
672,786 |
|
|
|
PDMRs |
|
|
|
|
|
Jørn Berget |
236,328 |
672,786 |
|
|
|
Robert Booker |
91,107 |
185,859 |
|
|
|
Christopher Finlayson |
236,328 |
236,328** |
|
|
|
Sir John Grant |
82,825 |
167,459 |
|
|
|
Sami Iskander |
198,780 |
401,678 |
|
|
|
Catherine Tanna |
236,328 |
504,311 |
|
|
|
Graham Vinter |
129,483 |
374,933 |
|
|
|
|
|
x,xxx |
||
Under normal circumstances, the Awards will not vest and become exercisable until after the end of the 3 year vesting period which commenced on 7 September 2010. The vesting will be conditional upon the achievement of specified performance criteria over a 3 year period.
The number of Shares shown is the maximum number over which Awards could vest/be exercised under the terms of the LTIP if the performance criteria were to be met in full.
* With the exception of the Award granted to Catherine Tanna, which is in the form of a conditional award of Shares.
** This excludes the additional one-off Award as described in the following paragraph
The Company has also received notification today from the following PDMR that on 7 September 2010 he was granted the following Performance Share Award in the form of a nil cost option under the rules of the LTIP. This is a one-off Award in connection with his recruitment.
|
Name |
Number of ordinary shares of 10p each ("Shares") over which Award granted on 7 September 2010 |
|
|
Christopher Finlayson |
95,000 |
|
|
|
|
|
Under normal circumstances the Award will vest and become exercisable in three equal tranches on 1 August 2011, 1 August 2012 and 1 August 2013. Vesting is conditional upon the achievement of specified performance conditions over the one, two and three year performance period respectively and subject to continued employment.
2) Release of Shares under BG Group Long Term Incentive Scheme (LTIS)
On 23 March 2010 the Company announced that certain Executive Directors and PDMRs had partially exchanged their 2007 LTIS allocations granted to them on 5 September 2007 for equivalent restricted share awards, the resulting Exchanged Awards being subject to the same terms as the original LTIS allocations. The Company has today received notification from the following Executive Directors and PDMRs that on 7 September 2010 the shares subject to the Exchanged Awards set out in the table below vested and were transferred to them. The same Executive Directors and PDMRs also became entitled to the Shares set out in the table below, as a result of the vesting of a proportion of the remainder of the original allocation made to them under the rules of the LTIS on 5 September 2007. Based upon the performance criteria which applied to these awards, overall 86.7% of the original allocations have vested resulting in the numbers of shares set out below being transferred. In accordance with the rules of the LTIS, the Executive Directors and PDMRs have become entitled to additional Shares in respect of the dividends which would have been paid on the vested Shares during the vesting period. In transferring these Shares to the beneficiaries below, the Trustee of the LTIS has sold Shares on account of the income tax and social security withholdings arising (together with the associated dealing costs) on this release, to enable the Company to settle these withholdings. As a result of the above, the Executive Directors' and PDMRs' individual interests in the Company's Shares are as follows:
|
|
Shares transferred on 7 September 2010 (from Exchanged Awards made on 23 March 2010) |
Number of Shares vested on 7 September 2010 from balance of original LTIS allocation |
Number of additional Shares in respect of dividends paid during the vesting period |
Number of Shares sold on the London Stock Exchange for £10.735 to cover tax and social security liabilities (and associated dealing costs) |
Shares transferred on 7 September 2010 (from balance of original LTIS allocation) |
Total number of Shares transferred on 7 September 2010 |
Resulting Interest in Shares on 7 September 2010 |
|
Executive Directors |
|
|
|
|
|
|
|
|
Frank Chapman |
260,961 |
32,846 |
12,599 |
23,245 |
22,200 |
283,161 |
1,994,364 |
|
Ashley Almanza |
121,594 |
15,313 |
5,874 |
10,842 |
10,345 |
131,939 |
475,946* |
|
Martin Houston |
93,834 |
11,818 |
4,533 |
8,369 |
7,982 |
101,816 |
786,222 |
|
PDMRs |
|
|
|
|
|
|
|
|
Jørn Berget |
93,834 |
11,818 |
4,533 |
8,369 |
7,982 |
101,816 |
108,432 |
|
Robert Booker |
9,966 |
1,256 |
482 |
890 |
848 |
10,814 |
37,296 |
|
|
|
|
|
|
|
|
|
*After taking account of the sale of Shares referred to in 3. below.
3) Ashley Almanza
The Company has also received notification today from Ashley Almanza, Chief Financial Officer, that on 7 September 2010, his wife, Gillian Almanza, sold 75,000 Shares at a price of £10.713989 per Share.
As a result, Mr Almanza's interests in the ordinary share capital of BG Group plc are 475,946 Shares, representing 0.014% of the Shares in issue.
B. TRANSACTION IN OWN SHARES
BG Group plc announces that it has today transferred 443,411 Shares to the Trustee of its Long Term Incentive Scheme to satisfy awards made to participants which have vested under the Scheme. The Trustee has sold 168,305 of the Shares to cover the associated dealing costs and meet the income tax and social security withholdings arising on this release, to enable the Company to settle these withholdings. All the Shares were formerly held in Treasury.
Following the above transfer, BG Group plc holds 219,394,674 Shares in Treasury and has a total of 3,382,734,938 Shares (excluding Shares held in Treasury) in issue.
These announcements are made pursuant to DTR 3.1.4.
7 September 2010
Website www.bg-group.com
Related Shares:
BG..L