18th Jun 2019 09:22
ContourGlobal plc
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
On 17 June 2019 the following award over ordinary shares of 1 pence in ContourGlobal plc (the "Company") were granted under the ContourGlobal plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:
PDMR | No. of shares under Award | Type of Award |
Joseph C. Brandt | 482,183 | Performance Share Award structured as a conditional award of shares |
Stefan L. Schellinger | 382,262 | Performance Share Award structured as a nil cost option |
The award will ordinarily vest on the third anniversary of grant subject to the grantee's continued service and to the extent to which the performance conditions (as detailed below) set for the award are satisfied.
The award is subject to four distinct performance conditions measuring: (i) as to 50% of the award, compounded annual growth in the Company's adjusted EBITDA; (ii) as to a further 12.5% of the award, the Company's internal rate of return on qualifying Company projects; (iii) as to a further 12.5% of the award, the number of corporate milestones completed in respect of qualifying Company projects; and (iv) as to the final 25% of the award, the Company's health and safety performance (measured by the Company's Lost Time Incident Rate). The performance conditions shall each be measured over a three-year period ending on 31 December 2021.
Details of the full notifications received by the Company are set out below.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Joseph C. Brandt | ||||
2 | Reason for Notification | |||||
a) | Position/status | President and Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ContourGlobal plc | ||||
b) | LEI | 5493002I3A4J5TFOR115 | ||||
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 Shares of 1 pence each in ContourGlobal plc GB00BF448H58 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the ContourGlobal plc Long Term Incentive Plan. The award is structured as a conditional award of shares and will ordinarily vest three years from the date of grant, subject to achievement of the applicable performance conditions. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 17 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Stefan L. Schellinger | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ContourGlobal plc | ||||
b) | LEI | 5493002I3A4J5TFOR115 | ||||
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 Shares of 1 pence each in ContourGlobal plc GB00BF448H58 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the ContourGlobal plc Long Term Incentive Plan. The award is structured as a nil cost option over shares and will ordinarily vest and become exercisable three years from the date of grant, subject to achievement of the applicable performance conditions. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 17 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Investor Relations - ContourGlobal
Alice Heathcote
Tel: +44 (0) 20 37869307
Tel: +1 617 690 9633
Media - Brunswick
Charles Pretzlik / Simon Maine
Tel: +44 (0) 207 404 5959
Related Shares:
GLO.L