Director/PDMR Shareholding

RNS Number : 6229B
Balfour Beatty PLC
29 October 2009
 



Notification of Transactions of Persons Discharging Managerial Responsibilities or Connected Persons


Balfour Beatty plc ("the Company") was informed on 28 October 2009 by The Trustees of the Balfour Beatty Employee Share Ownership Trust that each of the following Persons Discharging Managerial Responsibilities ("PDMRs") acquired, for nil consideration, the number of Ordinary Shares of 50p each ("Ordinary Shares") in the Company shown below against his name following the release of awards made under the Rules of the Company's long-term incentive plan, the Balfour Beatty Performance Share Plan 2006.  The release of these awards had been delayed until the completion of the acquisition of Parsons Brinckerhoff Inc ("Completion") as explained in the Company's Prospectus dated 18 September 2009 (the "Prospectus").  The awards have been adjusted to take into account the effects of the Rights Issue which closed on 22 October 2009.  As announced on 27 October 2009, the acquisition of Parsons Brinckerhoff Inc was completed on that day.


Directors (Name: Number of Ordinary Shares awarded)


Mr D J Magrath:

55,072

Mr A J McNaughton:

40,752

Mr A L P Rabin:

111,872

Mr I P Tyler:

194,143

Mr P J L Zinkin:

116,347


Other PDMRs 

 

Mr M Leger:

58,307

Mr B Osborne:

86,743

Mr M J Peasland:

86,743

Mr A E Rose:

86,743


Each of the following Directors or other PDMRs subsequently sold the number of Ordinary Shares shown below against his name at a price of 267.0114p per Ordinary Share on 28 October 2009. As previously explained in the Prospectus, all of the Executive Directors have made a net investment in the Rights Issue, but those with significant shareholdings, have sold sufficient Ordinary Shares to cover any tax charges arising from the exercise of their respective awards under the Balfour Beatty Performance Share Plan 2006, following Completion and up to 50% of the remaining balance.


Directors  (Number of Ordinary Shares sold from award)


Mr D J Magrath:

22,625

Mr A J McNaughton:

16,742

Mr A L P Rabin:

70,848

Mr I P Tyler:

107,394

Mr P J L Zinkin:

73,582


  Other PDMRs


Mr M Leger:

38,307

Mr B Osborne:

35,636

Mr M J Peasland:

35,636

Mr A E Rose:

35,636


Following the sale of Ordinary Shares referred to above, the number of Ordinary Shares retained by the Directors and other PDMRs from the released awards is:


Directors

 

Mr D J Magrath
32,447
(All of which have been transferred to his spouse, Mrs N Magrath)
Mr A J McNaughton
24,010
 
Mr A L P Rabin
41,024
 
Mr I P Tyler
86,749
(43,374 of which have been transferred to his spouse, Mrs J L Tyler)
Mr P J L Zinkin
42,765
 



Other PDMRs

 

Mr M Leger
20,000
 
Mr B Osborne
51,107
 
Mr M J Peasland
51,107
(All of which have been transferred to his spouse, Mrs J Peasland)
Mr A E Rose
51,107
 



As a consequence of the above-mentioned transactions the total number of Ordinary Shares held by each of the Directors and other PDMRs and any connected persons within the meaning of Section 252 of the Companies Act 2006, is as follows:


Directors

 

Mr D J Magrath
62,446
(0.009%)
Mr A J McNaughton
45,315
(0.007%)
Mr A L P Rabin
256,432
(0.037%)
Mr I P Tyler
315,720
(0.046%)
Mr P J L Zinkin
262,596
(0.038%)



Other PDMRs

 

Mr M Leger
84,496
(0.012%)
Mr B Osborne
72,076
(0.011%)
Mr M J Peasland
102,354
(0.015%)
Mr A E Rose
315,696
(0.046%)



This notification is made under DTR Rule 3.1.4.


Contact and telephone number for queries/

Duly authorised officer of issuer responsible for making notification:  


Mr M D PetersHead of Secretariat, 020 7216 6968.



This information is provided by RNS
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