TIDMCOST
RNS Number : 5411H
Costain Group PLC
06 April 2022
Costain Group PLC
6 April 2022
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 2022, 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 597,836 shares and Helen Willis over
496,473 shares, each representing deferral into shares of 50% of
their 2021 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.
Under the Company's Share Ownership Guidelines, shares subject
to Share Deferral Plan awards count towards these Guidelines, on a
net of assumed tax basis valued at the time of grant. Accordingly,
the revised beneficial holdings of the Executive Directors are as
follows:
Name of Director/PDMR Total beneficial holding Total beneficial holding
of Shares prior to the of Shares following the
transactions above transactions above
Alex Vaughan 247,705 557,085
------------------------- -------------------------
Helen Willis 0 256,924
------------------------- -------------------------
B. LONG TERM INCENTIVE PLAN AWARDS
Also on 6 April 2022, 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 1,124,685 shares and to Helen Willis over 934,005
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 2024. The Company's 2021 Directors' Remuneration
Report included proposed performance conditions which have now been
finalised by the Remuneration Committee of the Company and are
unchanged as follows:
(a) a three year aggregate EPS target (relating to two thirds of
the Awards) of 27.5p (for 15% vesting) and 33.7p (for 100%
vesting), with vesting on a straight-line basis between the two;
and
(b) a three year average cash conversion target (relating to one
third of the Awards) of 80% (for 15% vesting) and 100% (for 100%
vesting), with vesting on a straight-line basis between the
two.
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 Share Deferral
Plan and the LTIP, set out further below, are provided in
accordance with the requirements of the Market Abuse
Regulation.
Enquiries
Investors and analysts
Louise Bryant, Costain +44 7813 210 809
Financial media
Tim Rowntree, MHP +44 203 128 8771
Peter Hewer, MHP Costain@mhpc.com
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 the GRANT OF 597,836 OPTIONS UNDER THE COMPANY'S
transaction 2014 SHARE DEFERRAL PLAN
(2022 SDP Grant)
----------------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 597,836
----------
----------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- -----------------------------------------------
e) Date of the
transaction 06 APRIL 2022
----------------------------- -----------------------------------------------
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 the GRANT OF 496,473 OPTIONS UNDER THE COMPANY'S
transaction 2014 SHARE DEFERRAL PLAN (2022 SDP Grant)
----------------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 496,473
----------
----------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- -----------------------------------------------
e) Date of the
transaction 6 APRIL 2022
----------------------------- -----------------------------------------------
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 ISIN: GB00B64NSP76
Identification
code
----------------------------- ---------------------------------------------------
b) Nature of the GRANT OF 1,124,685 OPTIONS UNDER THE COMPANY'S
transaction 2014 LONG TERM INCENTIVE PLAN (2022 LTIP GRANT)
----------------------------- ---------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 1,124,685
----------
----------------------------- ---------------------------------------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- ---------------------------------------------------
e) Date of the
transaction 6 APRIL 2022
----------------------------- ---------------------------------------------------
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 the GRANT OF 934,005 OPTIONS UNDER THE COMPANY'S
transaction 2014 LONG TERM INCENTIVE PLAN (2022 LTIP GRANT)
----------------------------- ---------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 934,005
----------
----------------------------- ---------------------------------------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- ---------------------------------------------------
e) Date of the
transaction 6 APRIL 2022
----------------------------- ---------------------------------------------------
f) Place of the
transaction OUTSIDE A TRADING VENUE
----------------------------- ---------------------------------------------------
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END
DSHSSEFMMEESEEL
(END) Dow Jones Newswires
April 06, 2022 12:24 ET (16:24 GMT)
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