Grant under Deferred Annual Bonus Plan

RNS Number : 9397Z
Forterra plc
01 June 2016
 

1 June 2016

 

Forterra plc

 

Grant under Deferred Annual Bonus Plan

 

Forterra plc (the "Company") announces that, on 1 June 2016, awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain senior managers including persons discharging managerial responsibility ("PDMRs") under the Forterra plc Deferred Annual Bonus Plan ("DABP") as follows:

Name of PDMR

Number of shares over which the award is granted

Matthew Clay

18,084

George Stewart

16,666

Adam Smith

16,666

Other senior managers

116,128

Total

167,544


These awards represent the deferral into ordinary shares of the IPO Bonus to which the individuals become entitled to following the successful admission of the Company's ordinary share capital to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange plc's main market for listed securities, which occurred on 26 April 2016, as disclosed in the Company's prospectus (the "Prospectus") dated 21 April 2016.

No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per ordinary share.  The number of ordinary shares granted under the award has been calculated using the offer price of £1.80 in connection with the Company's initial public offering, as further described in the Prospectus.

The awards will normally vest on 26 April 2018, subject to the participant being an employee within the Company's group at that time. Once vested, the award shall normally remain exercisable until the day before the tenth anniversary of the date of grant. Further terms and conditions of the DABP are set out in the Prospectus.

The Company was informed of the above transaction on 1 June 2016 and the above notification is intended to satisfy the Company's obligations under paragraph 3.1.4R of the FCA's Disclosure Rules and Transparency Rules.

Enquiries

Forterra plc:

+44 (0) 1604 707 600

Shatish Dasani (CFO)


Benjamin Guyatt (Company Secretary)




FTI Consulting (public relations adviser to Forterra):

+44 (0) 20 3727 1340

Richard Mountain


Nick Hasell


 

Forterra plc

Further information relating to the Company and its group can be found at www.forterraplc.co.uk.

END


This information is provided by RNS
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Companies

Forterra (FORT)
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