Source - RNS
RNS Number : 4568O
Low & Bonar PLC
17 May 2018
 

LEI213800CALFKOEL7N7P10

Low & Bonar PLC (the "Company")

Grant of Options

 

The Company announces that on 16 May 2018 a grant of 602,894 nil cost options was made under the terms of the 2013 Low & Bonar Long Term Incentive Plan (the 'Plan') to Simon Webb, Group Chief Financial Officer.

 

His Option is subject to earnings per share and total shareholder return performance targets tested over three years. 20% of awards will vest for threshold performance, with full vesting taking place for equaling, or exceeding, the maximum performance targets. Vesting of the Option will normally take place on the third anniversary of grant subject to the continued employment of the participant and the satisfaction of performance conditions set by the Remuneration Committee of the Company.

To the extent that the Option vests, the participant may call for shares during a period of five years from the date of vesting (or such longer period as the Remuneration Committee of the Company may allow). On or as soon as reasonably practicable after the Vesting of an Award, the Company shall transfer or procure the transfer of the vested shares to the participant. Further details of the awards are set out below.

The Notification of Dealing Form for Simon Webb can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014. 

 

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Simon Webb

2.         

Reason for the notification

a.         

Position/status

Group 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

Low & Bonar PLC

b.         

LEI

213800CALFKOEL7N7P1O

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

Long Term Incentive Plan; Grant of Options over 5 pence ordinary shares

GB0005363014

b.         

Nature of the transaction

Grant of Options

c.         

Price(s) and volume(s)

Price(s)

Volume(s)

0

602,894

d.         

Aggregated information

·      Aggregated volume

·      Price

602,894

Nil

e.         

Date of the transaction

2018/05/16

f.         

Place of the transaction

Outside a trading venue

 

For further information, please contact:

 

Low & Bonar PLC

 

 Erika Percival, Company Secretary                          Tel: +44 (0) 20 7535 3180

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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