7th Aug 2018 16:54
7 August 2018
Director / PDMR Shareholding
The following announcement and notification is made in accordance with Article 19 of the EU Market Abuse Regulation.
The Company received notice that on 6 August 2018:
1 Mark Johnstone (Group Chief Executive) bought a total of 61,142 ordinary shares as follows:
(A) 1,706 ordinary shares at a price of 305.36 pence per share
(B) 13,251 ordinary shares at a price of 305.38 pence per share
(C) 46,185 ordinary shares at a price of 305.90 pence per share
2 Emma Johnstone (wife of Mark Johnstone) bought 6,513 ordinary shares at a price of 305.33 pence per share
Following this transaction Mark Johnstone's total beneficial holding including those of his connected persons is 226,494 shares
Long-Term Incentive Plan and Executive Share Option Plan
1 On 7 August 2018, Mark Johnstone (Group Chief Executive), was granted a conditional share award over 351,868 BBA Aviation plc ordinary shares of 2916/21 pence each under the terms of the Company's Long-Term Incentive Plan.
The conditional share award is subject to the achievement of performance conditions and if it vests will be released at nil cost in accordance with the Plan Rules. The award is also subject to an additional holding period of 2 years from the date on which the award vests.
2 David Crook (Group Finance Director) received a conditional share award on 11 May 2015 under the Company's 2006 Long-Term Incentive Plan. The performance condition attaching to this conditional share award was tested and 50% of the award vested today.
Mr Crook received a total of 12,328 shares net of applicable tax. Under the linked award 4,992 shares were released in accordance with the Plan rules and immediately sold with the funds being used to pay the exercise price on 6,171 approved options at an option price of 243 pence per share. Mr Crook retains 3,824 approved options net of applicable tax. Under the conditional award he receives 8,504 shares net of applicable tax.
Mr Crook's total beneficial holding including those of his connected persons following the transactions set out above is 12,328 shares.
The forms required under the EU Market Abuse Regulation follows.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Mark Johnstone | |
2 | Reason for the notification | ||
a) | Position/status | Group Chief Executive | |
b) | Initial Notification / Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | BBA Aviation plc | |
b) | LEI | 2138001T2QEV5RXMFI32
| |
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 | |
b) | Nature of transaction | Acquisition of Shares | |
c) | Price(s) and volume(s) | Price (pence) | Volume |
305.36 | 1,706 | ||
305.38 | 13,251 | ||
305.90 | 46,185 | ||
d) | Aggregated information: Volume, Price | 61,142 shares at a weighted average of 305.77 pence | |
e) | Date of the transaction | 6 August 2018 | |
f) | Place of the transaction | London Stock Exchange | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Emma Johnstone | |
2 | Reason for the notification | ||
a) | Position/status | Person closely associated with Mark Johnstone (Group Chief Executive) | |
b) | Initial Notification / Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | BBA Aviation plc | |
b) | LEI | 2138001T2QEV5RXMFI32
| |
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 | |
b) | Nature of transaction | Acquisition of Shares | |
c) | Price(s) and volume(s) | Price (pence) | Volume |
305.33 | 6,513 | ||
d) | Aggregated information: Volume, Price | n/a - see above | |
e) | Date of the transaction | 6 August 2018 | |
f) | Place of the transaction | London Stock Exchange | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Mark Johnstone | |
2 | Reason for the notification | ||
a) | Position/status | Group Chief Executive | |
b) | Initial Notification / Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | BBA Aviation plc | |
b) | LEI | 2138001T2QEV5RXMFI32
| |
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 | |
b) | Nature of transaction | Conditional share awards made under the Company's Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price (pence) | Volume |
300.40 | 351,868 | ||
d) | Aggregated information: Volume, Price | n/a - see above | |
e) | Date of the transaction | 7 August 2018 | |
f) | Place of the transaction | Grant of share awards occurred outside a trading venue | |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Crook |
2 | Reason for the notification | |
a) | Position/status | Group Finance Director |
b) | Initial Notification / Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | BBA Aviation plc |
b) | LEI | 2138001T2QEV5RXMFI32
|
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 |
b) | Nature of transaction | Vesting of 4,992 linked award shares granted under the Long-Term Incentive Plan which are then sold.
Exercise of 6,171 of approved options at 243 pence granted under the Executive Share Option Plan (of which 2,347 are withheld for tax) with the net number being 3,824.
Vesting of 8,504 net of tax conditional award shares granted under the Long-Term Incentive Plan
|
c) | Price(s) and volume(s) | 4,992 shares acquired under the Long-Term Incentive Plan at nil cost (Linked Element) and |
6,171 approved options shares acquired under the Executive Share Option Plan at 243 pence per share | ||
8,504 shares acquired under the Long-Term Incentive Plan at nil cost (Conditional Award Element) | ||
d) | Aggregated information: Volume, Price | See above |
e) | Date of the transaction | 7 August 2018 |
f) | Place of the transaction | Outside a trading venue |
Related Shares:
SIG.L