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Castings PLC (CGS)

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Thursday 27 August, 2020

Castings PLC

Grant of Share Options

RNS Number : 3763X
Castings PLC
27 August 2020
 

Castings plc (the "Company")

Grant of Share Options and Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

Castings plc ("the Group"), announces that the board has today made a grant of nominal value share options over 35,292 ordinary shares in the Group ("Options") pursuant to the Castings 2020 Restricted Share Plan as follows:

 

· A Vicary - 20,432 Options

 

· S J Mant - 14,860 Options

 

The awards vest after three years conditional on the option holder remaining with the Group during the performance period. Following the exercise of the Options there is an additional two-year holding period for the shares. The Option holder shall be entitled to receive an amount (in cash or shares) equal to any dividend which would have been paid on the Option shares during the holding period.

 

If all of the Options were exercised in full, this would represent approximately 0.08% of the Group's issued share capital.

 

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.  Adam Vicary

 

2.  Steven Mant

2

Reason for the notification

a)

Position/status

1.  Chief Executive Office

 

2.  Group Finance Director

b)

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Castings plc

b)

LEI

2138004LKVACAUE94W70

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 10 pence each 

 

GB0001795680

b)

Nature of the transaction

Grant of share options under the Castings 2020 Restricted Share Plan

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.  Nil

 

2.  Nil

 

1.  20,432

 

2.  14,860

d)

 

Aggregated information

- Aggregated volume

- Price

N/A - Singe transaction

e)

Date of the transaction

27 August 2020

f)

Place of the transaction

Grant of options occurred outside a trading venue

 

 

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