Costain Group PLC Grant of Share Plan Awards (6759V)
06 Abril 2023 - 8:29AM
UK Regulatory
TIDMCOST
RNS Number : 6759V
Costain Group PLC
06 April 2023
Costain Group PLC
6 April 2023
GRANT OF SHARE PLAN AWARDS
Costain announces the following grants of share awards to Alex
Vaughan, chief executive officer, and Helen Willis, chief financial
officer.
A. SHARE DEFERRAL PLAN AWARDS
On 6 April 2023, awards have been made under the Costain Group
PLC 2014 Share Deferral Plan (the "Share Deferral Plan") over
ordinary shares of 50p each in the Company in the form of options
with a nil exercise price (the "SDP Awards"). An SDP Award was
granted to Alex Vaughan over 291,195 shares and Helen Willis over
241,826 shares, each representing deferral into shares of one third
of their 2022 Annual Incentive Plan earned. No consideration was
paid for the grant of the Awards.
The SDP Awards will normally become exercisable two years after
grant subject to the Rules of the Share Deferral Plan. To the
extent that all or any part of the SDP Awards become exercisable,
they will remain exercisable until the day before the tenth
anniversary of the date of grant provided the individual remains an
employee or officer of the Company.
B. LONG TERM INCENTIVE PLAN AWARDS
Also on 6 April 2023, awards have been made under the Costain
Group PLC 2014 Long Term Incentive Plan (the "LTIP") over ordinary
shares of 50p each in the Company in the form of options with a nil
exercise price (the "LTIP Awards"). An LTIP Award was granted to
Alex Vaughan over 849,275 shares and to Helen Willis over 705,253
shares, each representing 100% of salary. No consideration was paid
for the grant of the Awards.
The Awards will normally vest three years after grant, subject
to the satisfaction of performance conditions, but will not
normally be released (so that they can be exercised) until the
fifth anniversary of the date of grant (with no further performance
conditions required after vesting).
The vesting of the Awards is subject to the satisfaction of
performance conditions assessed over the three financial years
ending 31 December 2025. The Company's 2022 Directors' Remuneration
Report included proposed performance conditions which have now been
finalised by the Remuneration Committee of the Company and are
unchanged.
The Remuneration Committee may reduce the extent to which the
LTIP Awards vest if the Committee considers that any of the value
at vesting represents a "windfall gain", taking into account such
factors as the Committee determines.
The Notification of Dealing Forms for both the SDP and the LTIP,
set out further below, are provided in accordance with the
requirements of the Market Abuse Regulation.
Enquiries
Investors and analysts
Paul Sharma, Costain +44 (0)7867 501188
Financial media - Headland costain@headlandconsultancy.com
Andy Rivett-Carnac +44 (0)7968 997365
Charlie Twigg +44 (0)7946 494568
Notification of Dealing Forms
1. Details of the Person Discharging Managerial Responsibility
("PDMR") / person closely associated with them ("PCA")
a) Name ALEXANDER JOHN VAUGHAN
----------------------------- ------------------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position /status CHIEF EXECUTIVE OFFICER/PDMR
------------------------------- ----------------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
------------------------------- ----------------------------------------------
3. Details of the Issuer
-------------------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
------------------------------- ----------------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
------------------------------- ----------------------------------------------
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 ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
----------------------------- ------------------------------------------------
b) Nature of GRANT OF 2 91,195 OPTIONS UNDER THE COMPANY'S
the transaction 2014 SHARE DEFERRAL PLAN (2023 SDP Grant)
----------------------------- ------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 291,195
----------
----------------------------- ------------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
----------------------------- ------------------------------------------------
e) Date of the
transaction 6 APRIL 2023
----------------------------- ------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
----------------------------- ------------------------------------------------
1. Details of the Person Discharging Managerial Responsibility
("PDMR") / person closely associated with them ("PCA")
a) Name HELEN MARGARET WILLIS
------------------------- -----------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position /status CHIEF FINANCIAL OFFICER/PDMR
--------------------------- ---------------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
--------------------------- ---------------------------------------------
3. Details of the Issuer
--------------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
--------------------------- ---------------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
--------------------------- ---------------------------------------------
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 ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument ISIN: GB00B64NSP76
Identification
code
------------------------- -----------------------------------------------
b) Nature of GRANT OF 241,826 OPTIONS UNDER THE COMPANY'S
the transaction 2014 SHARE DEFERRAL PLAN (2023 SDP Grant)
------------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 241,826
----------
------------------------- -----------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
------------------------- -----------------------------------------------
e) Date of the
transaction 6 APRIL 2023
------------------------- -----------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
------------------------- -----------------------------------------------
1. Details of the Person Discharging Managerial Responsibility
("PDMR") / person closely associated with them ("PCA")
a) Name ALEXANDER JOHN VAUGHAN
----------------------------- ---------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------
a) Position /status CHIEF EXECUTIVE OFFICER/ PDMR
------------------------------- -------------------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
------------------------------- -------------------------------------------------
3. Details of the Issuer
----------------------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
------------------------------- -------------------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
------------------------------- -------------------------------------------------
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 ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument
Identification ISIN: GB00B64NSP76
code
----------------------------- ---------------------------------------------------
b) Nature of GRANT OF 849,275 OPTIONS UNDER THE COMPANY'S
the transaction 2014 LONG TERM INCENTIVE PLAN (2023 LTIP GRANT)
----------------------------- ---------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 849,275
----------
----------------------------- ---------------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
----------------------------- ---------------------------------------------------
e) Date of the
transaction 6 APRIL 2023
----------------------------- ---------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
----------------------------- ---------------------------------------------------
1. Details of the Person Discharging Managerial Responsibility
("PDMR") / person closely associated with them ("PCA")
a) Name HELEN MARGARET WILLIS
----------------------------- ---------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------
a) Position /status CHIEF FINANCIAL OFFICER/ PDMR
------------------------------- -------------------------------------------------
b) Initial notification INITIAL NOTIFICATION
/ amendment
------------------------------- -------------------------------------------------
3. Details of the Issuer
----------------------------------------------------------------------------------
a) Name COSTAIN GROUP PLC
------------------------------- -------------------------------------------------
b) LEI code 213800PKIJBZ2EDTKC88
------------------------------- -------------------------------------------------
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 ORDINARY SHARES OF 50 PENCE EACH
instrument,
type of instrument
Identification ISIN: GB00B64NSP76
code
----------------------------- ---------------------------------------------------
b) Nature of GRANT OF 705,253 OPTIONS UNDER THE COMPANY'S
the transaction 2014 LONG TERM INCENTIVE PLAN (2023 LTIP GRANT)
----------------------------- ---------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 705,253
----------
----------------------------- ---------------------------------------------------
d) Aggregated
information N/A
* Aggregated volume
* Price
----------------------------- ---------------------------------------------------
e) Date of the
transaction 6 APRIL 2023
----------------------------- ---------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
----------------------------- ---------------------------------------------------
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END
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(END) Dow Jones Newswires
April 06, 2023 09:29 ET (13:29 GMT)
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