27th Oct 2015 16:09
27 October 2015
BBA Aviation plc (the "Company")
Notification of interest in shares of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") or Connected Persons
This notification is provided in accordance with paragraph 3.1.4R of the Disclosure and Transparency Rules.
BBA Aviation plc was today notified (in accordance with DTR 3.1.2R) that the following acquisitions of the Company's ordinary shares of 29 16/21 pence each by directors and PDMRs of the Company and/or their connected persons took place in London today. Each of these transactions took place pursuant to the 6 for 5 rights issue at 133 pence per new ordinary share announced by the Company on 23 September 2015 (the "Rights Issue").
Name of Director | Shares registered | Number of nil paid rights sold (for tail swallowing)1 | Number of ordinary shares acquired pursuant to the Rights Issue | Total beneficial holding following the Rights Issue |
Simon Pryce | Nominee account
Simon Pryce
Nominee accounts of connected persons | 456,0002
364,6623
136,4004 | 213,607
166,000
61,600 |
1,606,432 |
Nick Land | Nominee account | 66,000 | 121,000 | |
Peter Ratcliffe | Nominee account | 18,000 | 33,000 | |
Sir Nigel Rudd | Nominee account | 4,800 | 208,200 |
As a US person, the Rights Issue offer was not available to Peg Billson and 120,130 new shares were placed on her behalf in the rump placing at a price of 196 pence on 27 October 2015. Peg Billson's total beneficial holding following the Rights Issue is unchanged at 100,109 shares.
1 Certain directors sold a proportion of their nil paid rights in order to finance the purchase of the remainder of their rights (tail swallowing).
2 456,000 nil paid rights were sold at a price of 62.4717 pence on 12 October 2015 in order to finance the purchase of the remainder of the rights of Simon Pryce.
3 364,662 nil paid rights were sold at prices ranging from 55.25 pence to 65.06 pence in order to finance the purchase of the remainder of the rights of Simon Pryce.
4 136,400 nil paid rights were sold at prices ranging from 55.25 pence to 65.06 pence in order to finance the purchase of the remainder of the rights of Simon Pryce's connected persons.
The Company was notified earlier today that, following the Rights Issue period completed by the Company and pursuant to the rules of the Company's share plans, adjustments had been made to awards and options granted under those plans to participants to take account of the Rights Issue on the basis described below.
The adjustments operate so as to increase the number of shares subject to options and awards by a factor of 1.39744 and, in the case of options, to reduce the exercise price per share by a factor of 0.71559422.
The adjustments to the awards and options held by Directors and PDMRs of the Company under each plan are set out below:
Simon Pryce
Date of Award | Type of Award | Number of shares under Option or subject to award before adjustment | Number of shares under Option or subject to award after adjustment | Exercise price following adjustment, if relevant |
28 May 2013 | DPB Conditional Award | 57,160 | 79,877 | n/a |
28 May 2013 | DPB Matching Award | 57,160 | 79,877 | n/a |
28 May 2013 | LTIP Conditional Award | 290,436 | 405,866 | n/a |
28 May 2013 | LTIP Linked Award | 10,464 | 14,622 | n/a |
28 May 2013 | Approved Options | 10,464 | 14,622 | 205.1 pence |
17 March 2014 | LTIP Conditional Award | 339,300 | 474,151 | n/a |
17 March 2014 | DPB Conditional Award | 69,321 | 96,871 | n/a |
6 June 2014 | Sharesave Options | 12,096 | 16,903 | 177.467366 pence |
12 March 2015 | LTIP Conditional Award | 344,700 | 481,697 | n/a |
13 March 2015 | DPB Conditional Award | 68,439 | 95,639 | n/a |
11 May 2015 | ELTIP Conditional Award | 195,658 | 273,420 | n/a |
Mike Powell
Date of Award | Type of Award | Number of shares under Option or subject to award before adjustment | Number of shares under Option or subject to award after adjustment | Exercise price following adjustment, if relevant |
26 August 2014 | LTIP Conditional Award | 152,179 | 212,661 | n/a |
26 August 2014 | LTIP Linked Award | 9,221 | 12,885 | n/a |
26 August 2014 | Approved Options | 9,221 | 12,885 | 232.8 pence |
12 March 2015 | LTIP Conditional Award | 161,600 | 225,826 | n/a |
13 March 2015 | DPB Conditional Award | 46,927 | 65,577 | n/a |
11 May 2015 | ELTIP Conditional Award | 124,490 | 173,967 | n/a |
Peg Billson
Date of Award | Type of Award | Number of shares subject to award before adjustment | Number of shares subject to award after adjustment |
11 September 2012 | DPB Conditional Award | 50,641 | 70,767 |
11 September 2012 | DPB Matching Award | 51,723 | 72,279 |
28 May 2013 | DPB Conditional Award | 41,144 | 57,496 |
28 May 2013 | DPB Matching Award | 41,579 | 58,104 |
28 May 2013 | LTIP Conditional Award | 98,300 | 137,368 |
17 March 2014 | DPB Conditional Award | 26,115 | 36,494 |
17 March 2014 | LTIP Conditional Award | 111,100 | 155,255 |
12 March 2015 | LTIP Conditional Award | 131,000 | 183,064 |
13 March 2015 | DPB Conditional Award | 32,670 | 45,654 |
11 May 2015 | ELTIP Conditional Award | 72,174 | 100,858 |
Related Shares:
SIG.L