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Weir Group PLC (WEIR)

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Thursday 09 April, 2020

Weir Group PLC

Director/PDMR Shareholding

RNS Number : 4416J
Weir Group PLC
09 April 2020
 

9 April 2020

The Weir Group PLC

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs") and Persons Closely Associated with them

The Weir Group PLC (the "Company") hereby announces that on 8 April 2020, the PDMRs noted below were granted restricted share awards under The Weir Group Share Reward Plan.

This notification relates to a transaction notified in accordance with the Market Abuse Regulation, further details below:

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Jon Stanton

2.

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions.

No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

108,802

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

John Heasley

2.

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

53,602

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Ricardo Garib

2.

Reason for the notification

a)

Position/status

President of Weir Minerals Division

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

50,706

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Paul Coppinger

2.

Reason for the notification

a)

Position/status

President of Weir Oil & Gas Division

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

 

 

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

61,789

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Jon Owens

2.

Reason for the notification

a)

Position/status

President of Weir ESCO Division

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

49,951 

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

 

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Garry Fingland

2.

Reason for the notification

a)

Position/status

Chief Information Officer

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

32,862

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Rosemary McGinness

2.

Reason for the notification

a)

Position/status

Chief People Officer

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

32,862

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Graham Vanhegan

2.

Reason for the notification

a)

Position/status

Chief Legal Officer and Company Secretary

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

32,862

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Andrew Neilson

2.

Reason for the notification

a)

Position/status

Weir Minerals Regional Managing Director Europe, North Africa, Central Asia & Russia

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

 

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

44,258

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Paula Cousins

2.

Reason for the notification

a)

Position/status

Chief Strategy and Sustainability Officer

b)

Initial notification/ Amendment

Initial Notification

3.

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

a)

Name

The Weir Group PLC

b)

LEI

549300KDR56WHY9I3D10

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

  Identification code

Ordinary shares of 12.5p each fully paid

 

 

GB0009465807

b)

Nature of the transaction

Grant of Restricted Share Award under The Weir Group Share Reward Plan. The vesting dates of the Award are 8 April 2022, being the second anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2023, being the third anniversary of the date of grant, in respect of 25% of the Restricted Share Award; 8 April 2024, being the fourth anniversary of the date of grant, in respect of 25% of the Restricted Share Award; and 8 April 2025, being the fifth anniversary of the date of grant, in respect of 25% of the Restricted Share Award.

Following vesting there is a requirement to retain the vested shares (except for any shares sold to cover any applicable tax withholding requirement) for a period of two additional years (three years in respect of the proportion which vests in 2022) during which the PDMR is not entitled to sell the shares or otherwise deal with them. The Award is not subject to performance conditions. No consideration was paid for the grant of the award.

 c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

17,690

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

 

e)

Date of the transaction

8 April 2020

f)

Place of the transaction

Outside a trading venue

 

For further information, please contact:

 

Graham Vanhegan

Company Secretary

Telephone: 0141 308 3771


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