30th May 2013 17:15
BG Group plc
Notification of Interests in Shares by Persons Discharging Managerial Responsibilities
1. Chris Finlayson
The Company has received notification today from Chris Finlayson, Chief Executive, of his transactions in BG Group ordinary shares of 10p each (Shares) on 30 May 2013.
(a) BG Group Long Term Incentive Plan 2008 (LTIP)
Mr Finlayson has exercised nil-cost options over a total of 55,764 Shares, being the first and second tranches of the Performance Share Awards made to him on 7 September 2010 in connection with his recruitment in July 2010. The vesting level for these Awards was 100% for the first tranche and 74.32% for the second tranche. In accordance with the terms of the Awards, he also became entitled to additional Shares in respect of the dividends which would have been paid on the vested Shares during the vesting period. The Trustee of the Company's Employee Share Trust sold sufficient Shares to allow the Company to settle the income tax and social security withholdings (together with the associated dealing costs) arising as a result of the exercise. These transactions, along with the resulting interest in the Company's Shares, are detailed in the table below:
Tranche (vesting date) | Number of Shares over which Performance Share Awards made on 7 September 2010 | Number of Shares over which Performance Share Awards vested | Number of additional Shares in respect of dividends paid during the vesting period | Number of Shares sold for £12.12 per Share on 30 May 2013 to cover tax and social security liabilities (and associated dealing costs) | Total number of Shares transferred on 30 May 2013 |
Resulting Interest in Shares |
1st (1 Aug 2011) | 31,666 | 31,666 | 167 | 15,083 | 16,750 | 17,744 |
2nd (1 Aug 2012) | 31,666 | 23,534 | 397 | 11,341 | 12,590 | 30,334 |
(b) BG Group Voluntary Bonus Deferral Plan (VBDP)
Mr Finlayson has also exercised nil-cost options over a total of 40,140 Shares granted under the VBDP on 18 March 2011 and 19 March 2012. In accordance with the terms of the VBDP, he also became entitled to additional Shares in respect of the dividends which would have been paid on the Shares between grant and exercise. The Trustee of the Company's Employee Share Trust sold sufficient Shares to allow the Company to settle the income tax and social security withholdings (together with the associated dealing costs) arising as a result of the exercise. These transactions, along with the resulting interest in the Company's Shares, are detailed in the table below:
Date of grant | Number of Shares over which Awards granted | Number of Shares over which vested on 18 June 2011 (1st grant) & 19 June 2012 (2nd grant) | Number of additional Shares in respect of dividends paid during the period between grant and exercise | Number of Shares sold for £12.12 per Share on 30 May 2013 to cover tax and social security liabilities (and associated dealing costs) | Total number of Shares transferred on 30 May 2013 |
Resulting Interest in Shares |
(1st) 18 Mar 2011 | 17,344 | 17,344 | 399 | 8,411 | 9,332 | 39,666 |
(2nd) 19 Mar 2012 | 22,120 | 22,120 | 277 | 10,615 | 11,782 | 51,448 |
As a result of the above transactions, Mr Finlayson's interests in the ordinary share capital of the Company have increased by 50,454 ordinary shares to 51,448 Shares, representing 0.0015% of the Shares in issue.
2. Martin Houston
The Company has also received notification today from Martin Houston, Chief Operating Officer, of the following transactions made on 30 May 2013:
(a) His transfer of 67,220 Shares to his wife, Jane Houston; and
(b) The donation of 10,000 Shares by his wife, Jane Houston to the Charities Aid Foundation.
As a result of the above transactions, Mr Houston's interests in the ordinary share capital of the Company have decreased by 10,000 ordinary shares to 901,716 Shares, representing 0.026% of the Shares in issue.
30 May 2013
Website www.bg-group.com
Related Shares:
BG..L