1st Nov 2016 07:00
1 November 2016
Augean plc
("Augean" or "the Group")
Grant of Share Options under Long Term Incentive Plan
Total voting rights
Augean, one of the UK's leading specialist waste management businesses, announces that it has granted share options ("Options") to certain of its directors, persons discharging managerial responsibility ("PDMRs") and employees for up to 1,438,043 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the Augean plc 2014 Long Term Incentive Plan (the "LTIP").
424,925 of these Options have been granted to Stewart Davies as set out below:
Director | Number of Options granted | Total Number of Options held following this grant | % of issued share capital represented by total options held |
Stewart Davies | 424,925 | 2,253,133
| 2.19% |
In addition, 900,000 of these Options have been granted to PDMRs (other than Stewart Davies) as set out below:
PDMR
| Number of Options granted |
Helen Simms | 150,000 |
Gene Wilson | 150,000 |
Nigel Bowen | 150,000 |
Edward Pigg | 150,000 |
Andrew Woolcock | 150,000 |
Simon Gibb | 150,000 |
The Options have certain performance conditions attaching to them and are based on the achievement of these conditions during the period from 1 January 2016 to 31 December 2018. The Options are subject to the achievement of a Return on Capital Employed ("ROCE") condition being met following which the Options vest as follows:
i. 25% of each award will vest subject to performance conditions based on the Company's relative total shareholder return ("TSR"), comprising both the change in share price and cumulative dividends. The Company's TSR will be measured relative to the FTSE AIM All-Share Index; and
ii. 75% of each award will be subject to performance conditions based on the Company's diluted earnings per share.
To the extent that the performance conditions have been satisfied, the Options will vest on the date of the publication of the Company's 2018 Annual Report and Accounts. The Options have an exercise price of 10 pence each.
Following the above grant there are 5,624,272 options over Ordinary Shares. This represents 5.47% of the current issued share capital of the Company, which comprises 102,748,383 Ordinary Shares.
Total voting rights
The Company has a total of 102,748,383 Ordinary Shares in issue each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. This figure of 102,748,383 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name
| 1. Stewart Davies 2. Helen Simms 3. Gene Wilson 4. Nigel Bowen 5. Edward Pigg 6. Andrew Woolcock7. Simon Gibb
| ||||
2 | Reason for the notification | |||||
a) | Position/status
| 1. Chief Executive Officer 2. PDMR - Director of Radioactive Waste Services 3. PDMR - Director of Corporate Stewardship 4. PDMR - Director of Industry and Infrastructure 5. PDMR - Director of Augean Integrated Services 6. PDMR - Director of Energy and Construction7. PDMR - Managing Director of Augean North Sea Services
| ||||
b) | Initial notification/Amendment
| Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Augean Plc | ||||
b) | LEI | N/a | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary 10p shares ISIN: GB00B02H2F76 | ||||
b) | Nature of the transaction
| Grant of Options | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/a (Single transaction) | ||||
e) | Date of the transaction | 31 October 2016 | ||||
f) | Place of the transaction
| London Stock Exchange, AIM | ||||
For further information, call:
Augean plc Dr Stewart Davies, Chief Executive Richard Laker, Group Finance Director
| 01937 844 980 |
N+1 Singer Shaun Dobson Jennifer Boorer Alex Price
| 020 7496 3000 |
FTI Consulting Oliver Winters Fiona Walker
| 020 3727 1535 |
Related Shares:
AUG.L