Exercise of Nil Cost Options
Costain Group PLC
(the "Company")
EXERCISE OF NIL COST OPTIONS
(a) Total Beneficial Holding of Shares
Costain announces that, following the exercise of share awards granted under the Company's 2014 Share Deferral Plan (SDP) as detailed in section (b) below, Alex Vaughan, Chief Executive Officer, held the number of ordinary shares of 50 pence each in the share capital of the Company (the "Shares") as set out in the table below:
|
Name of Director |
Total beneficial holding of Shares held prior to the transactions detailed in section (b) below |
Total beneficial holding of Shares held following the transactions detailed in section (b) below |
|
Alex Vaughan
|
228,461 |
239,612 |
(b) Vesting of Share Deferral Plan (SDP)
On 3 April 2019, awards were granted under the Costain Group PLC 2014 Share Deferral Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the "Awards"). No consideration was paid for the grant of the Awards. The Awards vested on 3 April 2021 and became exercisable for a period of ten years from the date of grant.
On 7 April 2021, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:
On 6 April 2021, Alex Vaughan exercised his Award to acquire the number of Shares as set out in the table below. Also as detailed below, the Director sold a number of Shares sufficient to satisfy his income tax and national insurance liability arising on exercise and retained the remaining Shares.
|
Name of Director
|
Total number of Shares acquired on exercise of Awards (including Dividend Shares accrued at vesting)
|
Exercise Price |
Number of Shares sold to satisfy Tax and National Insurance Liabilities, such Shares sold at a price per Share of 61.5 pence
|
Number of Shares retained |
|
Alex Vaughan
|
21,041 |
Nil |
9,890 |
11,151 |
The Notification of Dealing Form set out below is provided in accordance with the requirements of the Market Abuse Regulation.
Notification of Dealing Form
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 / amendment | INITIAL NOTIFICATION | |||||||
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 instrument, type of instrument Identification code |
ORDINARY SHARES OF 50 PENCE EACH
ISIN: GB00B64NSP76 | |||||||
b) | Nature of the transaction | (1) EXERCISE OF 21,041 NIL COST OPTIONS UNDER THE COMPANY'S 2014 SHARE DEFERRAL PLAN (2019 SDP GRANT) (2) SALE OF 9,890 SHARES TO SATISFY TAX AND NI LIABILITIES | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information - Aggregated volume - Price |
N/A
| |||||||
e) | Date of the transaction |
6 APRIL 2021 | |||||||
f) | Place of the transaction |
(1) and (2) OUTSIDE A TRADING VENUE | |||||||
Enquiries:
Costain |
Tel: 01628 842 444 |
Sharon Harris, General Counsel and Company Secretary |
|
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|
|
|
MHP Communications | Tel: 020 3128 8771 |
Tim Rowntree Peter Hewer | costain@mhpc.com
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8 APRIL 2021
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