Director/PDMR Shareholding

RNS Number : 6674I

Mears Group PLC

05 July 2013

 



Mears Group PLC

("Mears" or the "Company")

5 July 2013

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with DTR 3.1.2 R

The Company was notified on 4 July 2013 that David Miles, Chief Executive of Mears, had exercised share options over 292,504 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.

Date of grant

Scheme Type

Number  of Ordinary Shares over which options were exercised

Exercise price per Ordinary Share (pence)

1 April 2004

Unapproved

30,453

1p

8 April 2005

Unapproved

7,220

1p

21 April 2006

Approved

10,000

300p

21 April 2006

Unapproved

6,087

1p

28 September 2007

Unapproved

50,045

1p

20 March 2008

Unapproved

151,149

1p

13 October 2008

LTIP

26,550

1p

28 October 2009

LTIP

11,000

1p

The Company was notified on 4 July 2013 that Alan Long, Executive Director of Mears, had exercised share options over 143,122 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.

Date of grant

Scheme Type

Number  of Ordinary Shares over which options were exercised

Exercise price per Ordinary Share (pence)

21 April 2006

Approved

10,000

300p

21 April 2006

Unapproved

6,087

1p

28 September 2007

Unapproved

20,018

1p

20 March 2008

Unapproved

75,575

1p

13 October 2008

LTIP

26,550

1p

28 October 2009

LTIP

4,892

1p

On 4 July 2013, the Company was also informed that Mr Miles on 3 July 2013 sold 227,484 Ordinary Shares, at an average price of 387.31 pence per share. A significant part of the funds raised was to fund the cost of exercise together with the associated tax charge.

On 4 July 2013, the Company was also informed that Mr Long on 3 July 2013 sold 81,000 Ordinary Shares, at an average price of 387.31 pence per share, entirely funding the cost of exercise together with the significant associated tax charge.

As a result of these transactions:

·      Mr Miles  has increased his interest in the Ordinary Shares of the Company from 110,000 to 175,020

·      Mr Long has increased his interest in the Ordinary Shares of the Company from 4,108 to 66,230

Mr Miles and Mr Long also have interests in share options under the LTIP scheme over 177,980 and 109,088 shares respectively. The options issued under the LTIP scheme are subject to the achievement of EPS and TSR performance conditions.

The exercise and disposal of the Ordinary Shares made by Mr Miles and Mr Long were in accordance with the trading plans Mr Miles and Mr Long entered into on the 28 June 2013.

Enquiries:
Mears Group PLC
David Miles, Chief Executive	Tel: [phone]
Joint Broker - Investec
Keith Anderson/Daniel Adams	Tel: [phone]
Joint Broker - Canaccord Genuity
Piers Coombs/Lucy Tilley	Tel: [phone]
IR - Gable Communications	Tel: [phone]
John Bick/Justine James	Tel: [phone]

 

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