12th Mar 2012 18:00
A. Notification of Interests in Shares
VESTING OF AWARDS under THE bg group plc DEFERRED BONUS PLAN (dbp)
The Company has today received notification from the Executive Directors and PDMRs shown in the table below regarding the vesting of Awards under the DBP. On 23 March 2010 the Company announced that certain Executive Directors and PDMRs had exchanged their 2009 Awards granted to them on 10 March 2009 under the DBP for equivalent restricted share awards. The resulting Exchanged Awards were subject to the same terms as the original 2009 Awards. On 10 March 2012 these Exchanged Awards vested and the resulting ordinary shares of 10p each (Shares) were subsequently transferred to them. Matt Schatzman's 2009 Award was not exchanged and his Award has vested on 10 March 2012 and the resulting Shares were subsequently transferred to him.
In accordance with the rules of the DBP, the Executive Directors and PDMRs have also become entitled to additional Shares in respect of the dividends which would have been paid on the vested Shares during the vesting period. In addition, the Trustee of the Company's Employee Share Trust has today sold sufficient Shares on behalf of the individuals to allow the Company to settle the income tax and social security withholdings (together with the associated dealing costs) arising as a result of this vesting and release.
These transactions, along with the Executive Directors' and PDMRs' individual interests in the Company's Shares, are detailed in the table below:
Shares vesting on 10 March 2012 (from Exchanged Awards made on 23 March 2010) | Number of additional Shares in respect of dividends paid during the vesting period | Number of Shares sold on the London Stock Exchange for £14.985 to cover tax and social security liabilities (and associated dealing costs) | Total number of Shares transferred on 12 March 2012 | Resulting Interest in Shares on 12 March 2012 | |
Executive Directors | |||||
Frank Chapman | 53825 | 3131 | 1635 | 55321 | 1 883 051 |
Martin Houston | 10567 | 615 | 322 | 10860 | 854 740 |
PDMR | |||||
Ashley Almanza | 13945 | 811 | 424 | 14332 | 52 742 |
Shares vesting on 10 March 2012 from Award made on 10 March 2009 | Number of additional Shares in respect of dividends paid during the vesting period | Number of Shares sold on the London Stock Exchange for £14.985 to cover tax and social security liabilities (and associated dealing costs) | Total number of Shares transferred on 12 March 2012 | Resulting Interest in Shares on 12 March 2012 | |
PDMR | |||||
Matt Schatzman | 9171 | 314 | 2518 | 6967 | 59 384 |
These announcements are made pursuant to DTR 3.1.4.
12 March 2012
Website www.bg-group.com
Related Shares:
BG..L