Grant under Deferred Annual Bonus Plan

RNS Number : 4648U

Forterra plc

29 March 2019

 

29 March 2019

Forterra plc

Grant under Deferred Annual Bonus Plan

Forterra plc (the "Company") announces that, on 29 March 2019, share option awards over ordinary shares of £0.01 each in the capital of the Company were granted to Executive Directors under the Forterra plc Deferred Annual Bonus Plan ("DABP") as follows:

Name of Director	Number of shares over which the award is granted
Stephen Harrison	35,652
Shatish Dasani	25,468
Total	61,120

These awards represent the deferral into ordinary shares of part of the Executive Directors' 2018 bonus entitlements under the rules of the Scheme.  

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 a share price of £2.959 being an average of the closing mid-market share price for the five days commencing on 12 March 2019 being the date of announcing the Company's 2018 results.   

The awards will normally vest on 12 March 2022, subject to the participant being an employee of the Company 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 Annual Report and Accounts. 

The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries

Forterra plc:	[phone]
Shatish Dasani (CFO)
Ben Guyatt (Company Secretary)
FTI Consulting (public relations adviser to Forterra):		[phone]
Richard Mountain
Nick Hasell

 

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