Director Shareholding
Ashtead Group PLC
20 August 2004
ASHTEAD GROUP PLC
Director Shareholding
Ashtead Group plc announces that three of its executive directors, George
Burnett, Ian Robson, and Sat Dhaiwal have purchased respectively 35,711, 40,813
and 10,203 ordinary shares of 10p each in the Company. Full details of these
purchases which were made on and notified to the Company on 19 August 2004 are
given in the table below.
These purchases, through which the directors have invested part of their bonuses
for the year ended 30 April 2004 in shares in the Company, have, with the
agreement of the Remuneration Committee, qualified these executive directors for
participation in the Company's investment incentive plan (IIP).
Accordingly, under the rules of the IIP, the Company, through its Remuneration
Committee, has made conditional Matching Awards of shares to each director to
the value of three times the gross equivalent of the amount invested. Vesting of
the Matching Awards is conditional upon achievement of demanding targets
relating to achieved real growth in earnings per share over that in the year to
30 April 2004 and to Total Shareholder Return over the three year vesting period
from 19 August 2004 to 18 August 2007.
The Company's employee share ownership trust will shortly conditionally transfer
the appropriate number of shares comprising the Matching Award to each director.
Each director is required to return all or part of the shares comprising the
Matching Award to the employee share ownership trust to the extent that the
performance conditions related to the Matching Award are not met.
Shares purchased by each director on 19 August 2004
Number of 10p Percentage Price Percentage of
ordinary shares of issued per Total issued share
Director purchased share capital share shares held capital
-------- --------- ------------- ----- ----------- -------
GB Burnett 35,711 0.011% 48.99p 13,897,664 4.27%
SI Robson 40,813 0.013% 48.99p 205,457 0.06%
SS Dhaiwal 10,203 0.003% 48.99p 23,203 0.01%
Notes:
1. All of these shareholdings are beneficial save for that of Mr Burnett
which includes 1,056,192 shares in which Mr Burnett has a non-beneficial
interest.
2. The total shares held shown above exclude shares held on a conditional
basis in respect of previous grants of Matching Awards under the IIP. The
number of such shares held conditionally is 1,422,006 shares held by Mr Burnett
and 650576 shares held by Mr Robson. Including these shares Mr Burnett's total
shareholding is 15,319,670 shares representing 4.71% of the Company's issued
share capital and Mr Robson's total shareholding is 856,033 shares representing
0.26% of the Company's issued share capital.
Shares which will shortly be transferred to directors on a conditional basis to
meet the potential Matching Awards on a full vesting
Number of 10p ordinary shares
Director being conditionally transferred
-------- ----------------------------------
GB Burnett 178,554
SI Robson 204,066
SS Dhaiwal 51,015
In addition to the executive directors mentioned above a number of other members
of the Group's senior management team purchased 121,084 shares in the Company on
19 August 2004 under the same programme.
The Company also announces that, as at the date of his appointment as a director
of the Company on 6 July 2004, Cliff Miller owned, and continues to own, a
beneficial interest in 33,000 ordinary shares of 10p each in the Company
representing 0.01% of the Company's issued share capital. He acquired these
shares in March 2003 at a price of approximately 8p per share.
ENDS
Contacts:
Cob Stenham Non-executive Chairman 020 7299 5562
George Burnett Chief executive ) 01372 362300
Ian Robson Finance director )
David Trenchard ) Tulchan Communications 020 7353 4200
William Davidson )
This information is provided by RNS
The company news service from the London Stock Exchange
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