Director/PDMR Shareholding

RNS Number : 1527G

Galliford Try Holdings PLC

13 March 2020

 

Galliford Try Holdings plc

("Galliford Try" or the "Company")

Performance conditions for awards under Galliford Try's Long Term Incentive Plan (the "Plan")

Following the decision of the Remuneration Committee to defer the granting of any conditional share awards under the existing Long Term Incentive Plan until the completion of the disposal of the housing and partnerships divisions by Galliford Try plc, which was announced on 3 January 2020, the Company now intends to make awards under the Plan.

The Company confirms that the performance conditions for such awards will be structured as were previous grants, and are based on underlying earnings per share ("EPS") in respect of a performance period comprising three consecutive financial years of the Company starting with the current year ending 30 June 2020.

The vesting of up to 100% of each base award will be based on underlying EPS performance for the last financial year of the performance period. 25% of the base award will vest if an underlying EPS of 13.0 pence is achieved increasing on a straight-line basis to 100% if an underlying EPS of 16.5 pence is achieved.

In accordance with the existing Remuneration Policy, the maximum grant level of up to 150% of each base award may vest subject to the terms and conditions of the Plan.

Conditional awards granted to persons discharging managerial responsibilities ("PDMR") under the Galliford Try Holdings plc Long Term Incentive Plan

On 13 March 2020, the following conditional awards over ordinary shares of 50 pence each in the Company were granted under the Plan to the following PDMRs, totalling 2,248,829 shares:

PDMR	No. of shares under the Award	Vesting date
B Hocking	584,213	13 March 2023
A Duxbury	474,705	13 March 2023
K Corbett	333,066	23 September 2022
I Jubb	363,510	23 September 2022
M Baxter	259,650	23 September 2022
V Skene	233,685	23 September 2022

The vesting of any shares subject to the awards and to the performance conditions being met shall be three years from award in the case of Bill Hocking and Andrew Duxbury, and on 23 September 2022 in the case of all other participants.

Details of the full notifications received by the Company are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bill Hocking
2	Reason for Notification
a)	Position/status	Chief Executive / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on the third anniversary of grant subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 584,213
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Duxbury
2	Reason for Notification
a)	Position/status	Finance Director / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on the third anniversary of grant subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 474,705
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kevin Corbett
2	Reason for Notification
a)	Position/status	General Counsel & Company Secretary / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 333,066
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Jubb
2	Reason for Notification
a)	Position/status	Divisional Managing Director, Building / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 363,510
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Baxter
2	Reason for Notification
a)	Position/status	Divisional Managing Director, Specialist Services / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 259,650
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Vikki Skene
2	Reason for Notification
a)	Position/status	HR Director / PDMR
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Galliford Try Holdings plc
b)	LEI	213800MR6DRHCJIV8113
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 in Galliford Try Holdings plc GB00BKY40Q38
b)	Nature of the transaction	Grant of an award under the Galliford Try Holdings plc Long Term Incentive Plan as a conditional award of shares. The award will ordinarily vest on 23 September 2022 subject to continued service and to the extent to which earnings per share targets are met.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 233,685
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	13 March 2020
f)	Place of the transaction	Outside a trading venue

For further enquiries:

Galliford Try Holdings plc	Kevin Corbett, General Counsel & Company Secretary	01895 855001
	Clara Melia, Investor Relations	07748 171 236
Tulchan Communications	James Macey White	0207 353 4200
	Martin Pengelley
	Elizabeth Snow

Note to Editors

Galliford Try Holdings plc is a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.

 

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