Ashtead Group PLC
9 July 2018
Director / PDMR Shareholding
Ashtead Group plc (the “Companyâ€) announces that on 6 July 2018 it made the annual awards for 2018 to 229 senior executives under its Performance Share Plan (“PSPâ€).
Awards under the PSP comprise the conditional right to receive ordinary shares of 10p each, which for the directors ordinarily vest on the fifth anniversary of grant for awards made on and after 2017. Vesting of awards is subject to continued employment and the achievement of challenging performance targets set by the Remuneration Committee. The Company intends to utilise shares held by the Group’s Employee Share Ownership Trust to fulfil any obligations to award shares to employees, which may arise.
The following awards were made to the executive directors:
Director | Number of ordinary 10p | |
shares covered by the award | ||
Geoff Drabble | 72,106 | |
Brendan Horgan | 66,801 | |
Michael Pratt | 29,993 |
The exercise price for the above awards is GBP1 for all ordinary shares to which the award relates. No consideration was paid for the grant of any of these awards.
The Company further announces that the awards made to its executive directors in July 2015 vested on 6 July 2018.
As a result of the vesting of the 2015 award the directors received the following number of ordinary 10p shares:
Geoff Drabble | 126,832 |
Sat Dhaiwal | 35,680 |
Brendan Horgan | 70,437 |
Michael Pratt | 33,093 |
Brendan Horgan and Michael Pratt sold 35,219 and 15,554 ordinary 10p shares respectively on 6 July 2018 to fund the tax payable on the exercise and retained the balance of the shares.
Geoff Drabble and Sat Dhaiwal sold 126,832 and 35,680 ordinary 10p shares respectively on 6 July 2018.
The directors’ total shareholdings are:
Number of ordinary 10p shares |
Percentage of issued Share capital* |
|
Geoff Drabble | 392,219 | 0.08 |
Sat Dhaiwal | 150,000 | 0.03 |
Brendan Horgan | 354,092 | 0.07 |
Michael Pratt | 252,539 | 0.05 |
*Excluding treasury shares.
Contact:
Will Shaw. Tel: 020 7726 9740