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ContourGlobal PLC (GLO)

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Wednesday 19 May, 2021

ContourGlobal PLC

Director/PDMR Shareholding

RNS Number : 2077Z
ContourGlobal PLC
19 May 2021
 

ContourGlobal plc

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 17th May 2021 the following awards over ordinary shares of 1 pence in ContourGlobal plc (the "Company") were granted under the ContourGlobal plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:

PDMR

No. of shares under Award

Type of Award

Joseph C. Brandt

442,186

Performance Share Award structured as a conditional award of shares

Stefan L. Schellinger

389,408

Performance Share Award structured as a nil cost option

The awards will ordinarily vest on the third anniversary of grant subject to the grantee's continued service and to the extent to which the performance conditions (as detailed below) set for the awards are satisfied.

Each award is subject to three distinct performance conditions measuring: (i) as to 50% of the award, compounded annual growth in the Company's adjusted EBITDA; (ii) as to a further 25% of the award, the internal rate of return on qualifying Company projects; and (iii) as to the final 25% of the award, the Company's health and safety performance (measured by the Company's Lost Time Incident Rate). The performance conditions shall each be measured over a three-year period ending on 31 December 2023.

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

Joseph C. Brandt

2

Reason for Notification

a)

Position/status

President and Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

ContourGlobal plc

b)

LEI

5493002I3A4J5TFOR115

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

Ordinary Shares of 1 pence each in ContourGlobal plc

 


Identification code

GB00BF448H58

b)

Nature of the transaction

Grant of a Performance Share Award under the ContourGlobal plc Long Term Incentive Plan. The award is structured as a conditional award of shares and will ordinarily vest three years from the date of grant, subject to achievement of the applicable performance conditions.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.926

442,186

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17th May 2021

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stefan L. Schellinger

2

Reason for Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

ContourGlobal plc

b)

LEI

5493002I3A4J5TFOR115

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

Ordinary Shares of 1 pence each in ContourGlobal plc

 


Identification code

GB00BF448H58

b)

Nature of the transaction

Grant of a Performance Share Award under the ContourGlobal plc Long Term Incentive Plan. The award is structured as a conditional award of shares and will ordinarily vest three years from the date of grant, subject to achievement of the applicable performance conditions.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.926

389,408

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17th May 2021

f)

Place of the transaction

Outside a trading venue

Vicky Dalby
Company Secretary
19 May 2021

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