GB Group PLC Notification of Director's Interest (4309P)
06 June 2015 - 1:32AM
UK Regulatory
TIDMGBG
RNS Number : 4309P
GB Group PLC
05 June 2015
5 June 2015
GB GROUP PLC
("GBGroup" or "GBG" or "the Company")
Notification of Director's Interest
The Board of GBGroup announces that the recent investment of the
executive directors in acquiring shares in GBGroup (as announced on
2 June 2015) was carried out under the Bonus Deferral and Share
Matching Plan of the Company. Accordingly, subject to the
conditions outlined below, the investment of the executive
directors has been matched, grossed up for income taxes, to 2.0x
the investment made.
The conditional matching awards to the executive directors are
set out in the table below. The figures reflect the maximum number
of matched shares over which the option might be exercised. The
actual number will depend upon the extent to which the established
performance conditions are satisfied over the performance
period.
Name Performance Maximum Matching Price Payable
Period Award on Exercise
----------------- -------------- ----------------- --------------
Richard Law, 1 April 2015 296,562 shares Nominal Value
Chief Executive to (2.5p)
Officer 31 March
2018
----------------- -------------- ----------------- --------------
David Wilson, 1 April 2015 156,683 shares Nominal Value
Group Finance to (2.5p)
& Operations 31 March
Director 2018
----------------- -------------- ----------------- --------------
Following this announcement:
(i) Mr Law has:
-- a beneficial holding of 2,018,320 Ordinary Shares (which
represents 1.67% of the issued share capital of the Company);
and
-- options over a maximum of 1,694,978 Ordinary Shares .
(ii) Mr Wilson has:
-- a beneficial holding of 423,686 Ordinary Shares (which
represents 0.35% of the issued share capital of the Company);
and
-- options over a maximum of 949,965 Ordinary Shares .
A summary of the rules of the Bonus Deferral and Share Matching
Plan is as follows:
The Company announced in November 2011 that following
consultation with its major shareholders, the Remuneration
Committee of the Board had approved the establishment of a salary
sacrifice, bonus deferral and share matching plan whereby the
executive directors and certain senior managers will have the
opportunity to elect to invest up to 20% of their annual salary and
up to 80% of their annual bonus in ordinary shares. Subject to
continued employment, the retention of these shares and the meeting
of a demanding financial performance target, the investment will be
matched on a gross basis by matching shares, in the form of options
with a nominal value exercise price, which will, subject to these
conditions, vest after three years.
- Ends-
For further information, please contact:
GB Group plc 01244 657333
John Constantin, Company
Secretary
Peel Hunt LLP (Nominated
Adviser and Broker) 020 7418 8900
Richard Kauffer
Website www.gbgplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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