23rd Mar 2018 14:30
LEI213800CALFKOEL7N7P10
Low & Bonar PLC (the "Company")
Grant of Options/Awards
The Company announces that on 22 March 2018 Computershare Trustees (Jersey) Limited, the trustee, granted nil cost options (each an 'Option') or a conditional award (an 'Award') under the terms of the 2013 Low & Bonar Long Term Incentive Plan (the 'Plan') to directors and persons discharging managerial responsibilities ('PDMR') of the Company on 22 March 2018 as follows:
Number of shares under the Option(1)/Award(2) | |
Philip de Klerk (1) Group Chief Executive Officer | 803,859 |
Clark Halladay (2) Global Business Director, Building & Industrial |
184,503 |
Gareth Kaminski-Cook (1) Global Business Director, Interiors & Transportation |
212,580 |
Johann Bryan (1) Global Business Director, Coated Technical Textiles |
168,080 |
Jan van Boldrik (1) Global Business Director, Civil Engineering |
105,656 |
Martin Jarvis (1) Group Director, Integrated Supply Chain | 160,772 |
No consideration was paid for the grant of any Option or Award.
Each Option and each Award is subject to earnings per share and total shareholder return performance targets tested over three years. 20% of awards will vest for threshold performance, with full vesting taking place for equaling, or exceeding, the maximum performance targets. Vesting of each Option and each Award will normally take place on the third anniversary of grant subject to the continued employment of the participant and the satisfaction of performance conditions set by the Remuneration Committee of the Company.
To the extent that the Options vest, the participant may call for shares during a period of five years from the date of vesting (or such longer period as the Remuneration Committee of the Company may allow). On or as soon as reasonably practicable after the Vesting of an Award, the Company shall transfer or procure the transfer of the vested shares to the participant. Further details of the awards are set out below.
The Notification of Dealing Form for each PDMR can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Philip de Klerk | ||||
2. | Reason for the notification | |||||
a. | Position/status | Group Chief Executive Officer | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 803,859
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Clark Halladay | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 184,503
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Gareth Kaminski - Cook | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 212,580
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Johann Bryan | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 168,080
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Jan van Boldrik | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 105,656
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Martin Jarvis | ||||
2. | Reason for the notification | |||||
a. | Position/status | PDMR | ||||
b. | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Low & Bonar PLC | ||||
b. | LEI | 213800CALFKOEL7N7P1O | ||||
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 | Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares GB0005363014 | ||||
b. | Nature of the transaction | Grant of Options | ||||
c. | Price(s) and volume(s) |
| ||||
d. | Aggregated information · Aggregated volume · Price | 160,772
Nil | ||||
e. | Date of the transaction | 2018/03/22 | ||||
f. | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
Low & Bonar PLC
Erika Percival, Company Secretary Tel: +44 (0) 20 7535 3180
Related Shares:
LWB.L