Director/PDMR Shareholding

RNS Number : 2832H

Forterra plc

23 March 2020

 

23 March 2020

Forterra plc

Forterra plc (the "Company")

Director / PDMR Shareholdings

Following the vesting on 15 March 2020 of share options granted to Executive Directors under the 2017 Deferred Annual Bonus Plan ("DABP"), the Company was notified on the 19 March 2020 that on 19 March 2020 the following exercise and sale transactions took place:

Stephen Harrison, Chief Executive Officer exercised options granted under the DABP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities with the balance being retained.

Name	Status	No. of shares exercised	Sale Date	Number of shares sold	Price	Number of shares retained	Beneficial interest	% of ISC
Stephen Harrison	PDMR	48,039	19/3/20	22,658	£1.92	25,381	173,246	< 1%

The 2017 DABP awards represent the deferral into ordinary shares of part of the Executive Directors' 2016 bonus entitlements under the rules of the scheme subject to the participant being an employee at the time of vesting. No consideration was paid for the grant of the awards which are structured as nominal (1p) cost options although this sum was waived by the Company on exercise. The number of options exercised also includes a dividend equivalent in addition to the options initially granted in accordance with the rules of the scheme.

No new shares were issued in respect of these transactions with shares being transferred to the individuals from the Forterra Employee Benefit Trust.

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

Enquiries

Forterra plc:	[phone]
Ben Guyatt (CFO) Ashley Thompson (Company Secretary)
FTI Consulting :	[phone]
Richard Mountain/Nick Hasell

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

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stephen Harrison
2.	Reason for the notification
a)	Position/status	PDMR (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	Forterra plc
b)	LEI	5299007SD2PDQMKM5278
4.	Details of the transaction(s):
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 1p each GB00BYYW3C20
b)	Nature of the transaction	Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the DABP scheme on 24 March 2017 and vesting on 15 March 2020
c)	Price(s) and volume(s)	Transaction Price(s) Volume(s) £Nil £1.92 £Nil 48,039 options vesting 22,658 shares sold to settle tax and NI 25,381 shares acquired
d)	Aggregated information	Transaction Price(s) Volume(s) Total  Sale £1.92 22,658 £43,503

 

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