Breedon Group Plc

Director's Dealing • Apr 19, 2017

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RNS Number : 6552C

Breedon Group PLC

19 April 2017

19 April 2017

BREEDON GROUP plc 

('Breedon' or the 'Company')

Directors' and PDMRs' Dealings

The Company announces that on 18 April 2017 the following Directors and other Persons Discharging Managerial Responsibilities (PDMRs) were granted awards under the Company's Performance Share Plans ("PSPs") in respect of the performance period 2017 to 2019, to acquire the number of ordinary shares of nil par value in the Company ("Ordinary Shares") set against their names in Table 1 below.  The awards will vest on 18 April 2020, subject to the satisfaction of a performance condition based on underlying EPS growth being significantly in excess of growth in RPI over the three-year period ending on 31 December 2019.

Table 1

Director/PDMR	Role	Ordinary Shares subject to conditional award
Peter Tom CBE*	Executive Chairman	529,801
Pat Ward	Group Chief Executive	695,364
Rob Wood	Group Finance Director	417,218
Tim Hall	Chief Executive - Southern	234,172
Alan Mackenzie	Chief Executive - Northern	234,172
Ross McDonald	Group Services Director	166,887
Stephen Tagg	Group Human Resources Director	190,993
Darryl Matthews	Head of Strategy & Commercial Services	108,609
Stephen Jacobs	Head of Communications & Marketing	64,105

*The Award to Peter Tom CBE was granted to Rise Rocks Limited, a company in which Mr Tom has a beneficial interest, which provides the services of Mr Tom as Chairman to the Company and was structured as an option at an option price equal to 1 pence per Ordinary Share. Once vested the option may be exercised at any time up to the 4th anniversary of the date of grant. All other awards were structured as conditional awards.

In addition, the Company has granted further awards under the PSPs to the Directors and other PDMRs shown in Table 2 below:

Table 2

Director/PDMR	Role	Ordinary Shares subject to conditional award
Pat Ward	Group Chief Executive	231,7881
463,5762
Rob Wood	Group Finance Director	132,4501
Stephen Tagg	Group Human Resources Director	106,1072
169,7723
Stephen Jacobs	Head of Communications & Marketing	33,8332
96,6043

1Pat Ward's award is granted in respect of the PSP awards granted in April 2014 which were subject to a performance condition assessed over the period 2014 to 2016 and which vested on 3 April 2017.  Pat Ward did not participate in the PSP awards granted in April 2014 but has been in service for part of the performance period; the award granted has been calculated on a pro-rata basis reflecting the proportion of the performance period for which he was in service.  Rob Wood's award is granted to ensure that he is rewarded on a fair and consistent basis relative to other members of the senior executive team, and to reflect his contribution since he joined the business.  Each award will vest in April 2018, following the expiration of an additional 12 month holding period and subject to an assessment of the relevant executive's ongoing performance in their role. 

2These awards are granted in respect of the PSP awards granted in April 2015 and which are subject to a performance condition assessed over the period 2015 to 2017.  Pat Ward, Stephen Tagg and Stephen Jacobs did not participate in the PSP awards granted in April 2015 but will have been in service for part of the performance period.  The awards granted have been calculated on a pro-rata basis reflecting the proportion of the performance period for which they will be in service.  The awards granted are subject to the same performance conditions as the PSP awards granted to other Directors and PDMRs in April 2015 and, subject to the satisfaction of those conditions, will vest in April 2019, following the expiration of an additional 12 month holding period to further align the interests of the executives with shareholders. 

3These awards are granted in respect of the PSP awards granted in April 2016 and which are subject to a performance condition assessed over the period 2016 to 2018.  Stephen Tagg and Stephen Jacobs did not participate in the PSP awards granted in April 2016 but will have been in service for part of the performance period.  The awards granted have been calculated on a pro-rata basis reflecting the proportion of the performance period for which they will be in service.  The awards granted are subject to the same performance conditions as the PSP awards granted to other Directors and PDMRs in April 2016 and will vest in April 2020, following the expiration of an additional 12 month holding period to further align the interests of the executives with shareholders. 

Enquiries:

Breedon Group plc                                                        www.breedongroup.com 

Pat Ward, Group Chief Executive                                    01332 694010

Stephen Jacobs, Head of Communications                    07831 764592  

Cenkos Securities plc (NOMAD and joint broker)

Max Hartley                                                                       020 7397 8900

Peel Hunt (Joint Broker)

Justin Jones / Mike Bell                                                    020 7418 8900  

More about Breedon Group

Breedon Group plc is the largest independent construction materials group in the UK after the four global majors. It operates the country's largest cement plant, two cement import terminals, around 60 quarries, 26 asphalt plants, 200 ready-mixed concrete & mortar plants and three concrete block plants, employing around 2,300 people nationwide.

The group has strong asset backing, with over 750 million tonnes of mineral reserves and resources. Breedon's strategy is to continue growing through consolidation of the UK heavyside building materials sector.

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter William Gregory Tom CBE

2

Reason for the notification

a)

Position/status

Executive Chairman (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of an Award under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	529,801

d)

Aggregated information (if any)

- Aggregated volume

- Price

529,801

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Patrick Robert Ward

2

Reason for the notification

a)

Position/status

Group Chief Executive (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of Awards under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	1,390,728

d)

Aggregated information (if any)

- Aggregated volume

- Price

1,390,728

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Robert Wood

2

Reason for the notification

a)

Position/status

Group Finance Director (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of Awards under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	549,668

d)

Aggregated information (if any)

- Aggregated volume

- Price

549,668

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Timothy Conrad Langston Hall

2

Reason for the notification

a)

Position/status

Chief Executive - Breedon Southern (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of an Award under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	234,172

d)

Aggregated information (if any)

- Aggregated volume

- Price

234,172

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alan Kenneth Mackenzie

2

Reason for the notification

a)

Position/status

Chief Executive - Breedon Northern (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of an Award under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	234,172

d)

Aggregated information (if any)

- Aggregated volume

- Price

234,172

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ross Edward McDonald

2

Reason for the notification

a)

Position/status

Group Services Director (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of an Award under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	166,887

d)

Aggregated information (if any)

- Aggregated volume

- Price

166,887

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stephen Peter Tagg

2

Reason for the notification

a)

Position/status

Group Human Resources Director (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of Awards under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	466,872

d)

Aggregated information (if any)

- Aggregated volume

- Price

466,872

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Darryl Matthews

2

Reason for the notification

a)

Position/status

Head of Strategy & Commercial Services (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of an Award under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	108,609

d)

Aggregated information (if any)

- Aggregated volume

- Price

108,609

Nil

f)

Place of the transaction

Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial

responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stephen Jacobs

2

Reason for the notification

a)

Position/status

Head of Communications & Marketing (PDMR)

b)

Is this an initial notification or an amendment to a prior notification?

Initial notification

3

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

a)

Name

Breedon Group plc

b)

LEI

213800ZQKCIVCPN9H229

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 no par value

JE00B2419D89

b)

Nature of the transaction

Grant of Awards under Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	194,542

d)

Aggregated information (if any)

- Aggregated volume

- Price

194,542

Nil

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

END

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