Director/PDMR Shareholding

RNS Number : 8704K

GB Group PLC

26 September 2016

 

26 September 2016

GB GROUP PLC

("GBG" or the "Company")

Notification of Directors' Interests

Richard Law

The Company announces that Richard Law (GBG's retiring Chief Executive Officer) has today notified the Company that he has exercised options over a total of 243,458 Ordinary Shares awarded in 2013 under GBG's Share Matching Scheme^*. 

Following this and the transaction detail below, Mr Law has increased his beneficial holding to 1,429,237 Ordinary Shares (which represents 1.07% of the issued share capital of the Company) and continues to have options over a maximum of 653,536 Ordinary Shares.

In line with the usual practice, he sold 134,250 of the Ordinary Shares exercised at an average price of 348.112 pence per share to cover the exercise costs incurred and tax liabilities arising in respect of the exercise of these options.

Dave Wilson

The Company also announces that Cath Wilson, the wife of Dave Wilson (GBG's Group Finance & Operations Director) has sold 50,000 Ordinary Shares at an average price of 346.642 pence per share.

Following this notification, Mr. Wilson has a beneficial holding of 245,592 Ordinary Shares (which represents 0.18% of the issued share capital of the Company) and continues to have options over a maximum of 914,862 Ordinary Shares.

* Note:

Share Matching Scheme

The exercise of these options is in accordance with the rules of GBG's Share Matching Scheme (the "Scheme").  Under the Scheme, the executive directors and certain senior managers have the annual opportunity to elect to invest up to 20% of their annual salary and up to 80% of their annual bonus in ordinary shares at market price. Subject to their continued employment, the retention of these shares and the meeting of a demanding financial performance target, the investment will be matched on a gross basis by matching shares issued at an exercise price of 2.5 pence per share.

The principle qualification for vesting of the options detailed above was a growth in adjusted earnings per share ("EPS") of at least 25% per annum compounded over 3 financial years. The actual compound growth in EPS over the period was 31% per annum.  The Scheme requires that the options are exercised within 1 year of vesting.  The options vested on 8 June 2016 when the Group's annual results for the year ended 31 March 2016 were announced.

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Cath Wilson
2.	Reason for the notification
a.	Position/status	PCA of PDMR (Dave Wilson)
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	GB Group plc
b.	LEI	N/A
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 2.5 pence GB0006870611
b.	Nature of the transaction	Sale of shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 348.5 pence 5,000 346.5 pence 35,000 346.2 pence 10,000
d.	Aggregated information · Aggregated volume · Price	50,000 346.642p
e.	Date of the transaction	2016-09-26; 11:31 UTC
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Richard Law
2.	Reason for the notification
a.	Position/status	Chief Executive Officer
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	GB Group plc
b.	LEI	N/A
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 2.5 pence GB0006870611
b.	Nature of the transaction	Acquisition of shares following the exercise of options awarded in 2013 under GBG's Share Matching Scheme.
c.	Price(s) and volume(s)	Price(s) Volume(s) N/A 243,458
d.	Aggregated information · Aggregated volume · Price	243,458 N/A
e.	Date of the transaction	2016-09-26
f.	Place of the transaction	London Stock Exchange
5.	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 2.5 pence GB0006870611
b.	Nature of the transaction	Sale of Shares to cover the exercise costs incurred and tax liabilities arising in respect of the exercise options.
c.	Price(s) and volume(s)	Price(s) Volume(s) 350.0 pence 60,000 348.5 pence 5,000 346.5 pence 59,250 346.2 pence 10,000
d.	Aggregated information · Aggregated volume · Price	134,250 348.1117p
e.	Date of the transaction	2016-09-26; 11:31 UTC
f.	Place of the transaction	London Stock Exchange

- Ends-

For further information, please contact:

GB Group plc John Constantin, Company Secretary	01244 657333
Peel Hunt LLP (Nominated Adviser and Broker) Richard Kauffer Euan Brown	020 7418 8900
Website	www.gbgplc.com

 

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