GRI Grainger Plc

TIDMGRI

RNS Number : 5142Z

Grainger PLC

15 December 2017

Grainger plc

("Grainger" or the "Company")

GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS/PDMR

The Company announces that it has made the following grant of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the the 2017 Long Term Incentive Plan ("LTIP") on 14 December 2017.

Grant of Options

On 14 December 2017, Grainger granted Options of a total of 73,231 Shares to Andrew Saunderson, a Person Discharging Managerial Responsibilities ("PDMR") of the Company.

Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance and relative Total Shareholder Return ("TSR"). Half of the Shares under an Option are subject to TPR performance conditions, and half of the Shares under an Option are subject to TSR performance conditions.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
        Details of the person discharging managerial 
  1      responsibilities / person closely associated 
---  -------------------------------------------------------------------- 
a)      Names               Andrew Saunderson 
---  --------------------  ---------------------------------------------- 
2       Reason for the notification 
---  -------------------------------------------------------------------- 
a)      Position/status     Director of Investments, PDMR 
---  --------------------  ---------------------------------------------- 
b)      Initial             Initial Notification 
         notification 
---  --------------------  ---------------------------------------------- 
3     Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  -------------------------------------------------------------------- 
a)      Name                Grainger plc 
---  --------------------  ---------------------------------------------- 
b)      LEI                 2138007CEIRKZMNI2979 
---  --------------------  ---------------------------------------------- 
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         Ordinary Shares of 5p each in Grainger 
         of the financial    plc 
         instrument, 
         type of 
         instrument 
---  --------------------  ---------------------------------------------- 
b)      Identification      GB00B04V1276 
         code 
---  --------------------  ---------------------------------------------- 
c)      Nature of           Grant of nil cost Options over Ordinary 
         the transaction     Shares pursuant to the Grainger plc 
                             2017 Long Term Incentive Plan which 
                             shall ordinarily vest and become exercisable 
                             from the third anniversary of the grant 
                             date subject to continued service and 
                             to the extent to which the performance 
                             conditions set for the Award are satisfied 
---  --------------------  ---------------------------------------------- 
d)      Price and           Price - Nil 
         volumes             Volumes: 73,231 Ordinary Shares 
---  --------------------  ---------------------------------------------- 
d)      Aggregated 
         information          N/A 
         - Aggregated 
         volume 
         - Price 
---  --------------------  ---------------------------------------------- 
e)      Date of             14 December 2017 
         the transaction 
---  --------------------  ---------------------------------------------- 
f)      Place of            Outside a trading venue 
         the transaction 
---  --------------------  ---------------------------------------------- 
 

Name of authorised official of issuer responsible for making notification.

Adam McGhin

Group General Counsel and Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 15, 2017 06:24 ET (11:24 GMT)

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