Deferred Share Bonus Plan

RNS Number : 4628C

Costain Group PLC

01 May 2012

 

Costain Group PLC (the "Company")

Deferred Share Bonus Plan

This notification is made in accordance with DTR 3.1.4(1)(a).

On 19 April 2010, awards over ordinary shares in the Company were made to certain directors of the Costain Group PLC (the "Company") under the Costain Deferred Share Bonus Plan (the "Plan").  The awards granted under the Plan are structured as follows:

1) an option with a nil exercise price over a number of shares ("Deferred Award"); and

2) an option with a nil exercise price over a fixed value of shares, which is granted in combination with  an HMRC approved market value option ("Combined Deferred Award").

Under the Schedule to the Plan, the relevant directors were also granted an HMRC approved option over a fixed number of shares with an exercise price of 242.0 pence per share ("Option").

The awards became exercisable on 19 April 2012. 

On 27 April 2012, the following directors exercised their Combined Deferred Awards and Deferred Awards in accordance with the rules of the Plan over the number of ordinary shares in the Company set out in the table below.  Where noted below, the directors sold a proportion of the shares acquired off-market to the Trustees of the Company's Employee Benefit Trust to fund their tax liabilities.

In addition, in accordance with the rules of the Plan, dividend shares were awarded to the participants holding Deferred Awards, representing the value of dividends that would have been due on the vested shares during the period between 20 October 2010 and 19 April 2012.

The Options held by the directors lapsed on 27 April 2012.

Name of Director	Total number of shares acquired on exercise of Deferred Award (including dividend shares)	Total number of shares acquired on exercise of Combined Deferred Award	Number of shares sold to satisfy Tax and National Insurance Liabilities	Number of shares retained	Price per share received on sale
Andrew Wyllie	26,951	12,377	20,451	18,877	219.0p
Tony Bickerstaff	12,723	12,377	13,053	12,047	219.0p

The Company was informed by the directors listed above of the above transactions which took place in London on 27 April 2012.

Enquiries to:
Costain Group PLC		Tel: [phone]
Tracey Wood - Company Secretary
Graham Read - Communications Director
College Hill		Tel: [phone]
Mark Garraway
Helen Tarbet

 

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