Exercise of Nil Cost Options

RNS Number : 7354U
Costain Group PLC
08 April 2021
 

 

Costain Group PLC

(the "Company")  

 

EXERCISE OF NIL COST OPTIONS

 

(a)  Total Beneficial Holding of Shares

 

Costain announces that, following the exercise of share awards granted under the Company's 2014 Share Deferral Plan (SDP) as detailed in section (b) below, Alex Vaughan, Chief Executive Officer, held the number of ordinary shares of 50 pence each in the share capital of the Company (the "Shares") as set out in the table below:

 

Name of Director

Total beneficial holding of Shares held prior to the transactions detailed in section (b) below

Total beneficial holding of Shares held following the transactions detailed in section (b) below

 

Alex Vaughan

 

 

228,461

 

239,612

 

(b)  Vesting of Share Deferral Plan (SDP)

 

On 3 April 2019, awards were granted under the Costain Group PLC 2014 Share Deferral Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the "Awards"). No consideration was paid for the grant of the Awards. The Awards vested on 3 April 2021 and became exercisable for a period of ten years from the date of grant.

 

On 7 April 2021, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:

 

On 6 April 2021, Alex Vaughan exercised his Award to acquire the number of Shares as set out in the table below. Also as detailed below, the Director sold a number of Shares sufficient to satisfy his income tax and national insurance liability arising on exercise and retained the remaining Shares.

 

 

Name of

Director

 

Total number of Shares acquired on exercise of Awards (including Dividend Shares accrued at vesting)

 

Exercise Price

Number of Shares sold to satisfy Tax and National Insurance Liabilities, such Shares sold at a price per Share of 61.5 pence

 

Number of Shares retained

 

Alex Vaughan

 

 

 

21,041

 

Nil

 

9,890

 

11,151

 

 

 

The Notification of Dealing Form set out below is provided in accordance with the requirements of the Market Abuse Regulation.

Notification of Dealing Form

 

1.

Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

ALEXANDER JOHN VAUGHAN

2.

Reason for the notification

a)

Position /status

CHIEF EXECUTIVE OFFICER/ PDMR

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

COSTAIN GROUP PLC

b)

LEI code

213800PKIJBZ2EDTKC88

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 50 PENCE EACH

 

ISIN:  GB00B64NSP76

b)

Nature of the transaction

(1)  EXERCISE OF 21,041 NIL COST OPTIONS UNDER THE COMPANY'S 2014 SHARE DEFERRAL PLAN (2019 SDP GRANT)

(2)  SALE OF 9,890 SHARES TO SATISFY TAX AND NI LIABILITIES

c)

Price(s) and volume(s)

Price(s)

Volume(s)

(1)  Nil Cost

21,041

(2)  £0.615

9,890

 

 

 

d)

Aggregated information

Aggregated volume

Price

 

N/A

 

 

e)

Date of the transaction

 

6 APRIL 2021

f)

Place of the transaction

 

(1)  and (2) OUTSIDE A TRADING VENUE

    

 

 

Enquiries:

 

Costain

 

  Tel: 01628 842 444

Sharon Harris, General Counsel and Company Secretary

 

 

 

 

 

MHP Communications

Tel: 020 3128 8771

Tim Rowntree

Peter Hewer

costain@mhpc.com

 

 

 

 

8 APRIL 2021

 

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