COSTAIN GROUP PLC — Director's Dealing 2017

Apr 6, 2017

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RNS Number : 7924B

Costain Group PLC

06 April 2017

Costain Group PLC

(the "Company")

GRANT OF NIL COST OPTIONS

Costain announces the following grant of share awards to certain Directors of the Company under the Costain Share Deferral Plan and the Long Term Incentive Plan as detailed in sections (A) and (B) below.

(A)    Costain Group PLC 2014 Share Deferral Plan

On 05 April 2017, awards over ordinary shares of 50p each in the Company were made under the Costain Group PLC 2014 Share Deferral Plan (the "Share Deferral Plan").

The awards granted under the Share Deferral Plan are structured as options over a number of shares with a nil exercise price (the "Awards").  No consideration was paid for the grant of the Awards.

Awards were made to the following Executive Directors:

Name of Director	Number of Shares Under the Awards
Andrew Wyllie	38,064
Anthony Bickerstaff	25,221

The Awards will become exercisable on or around the second anniversary of the date of grant subject to the Rules of the Share Deferral Plan. To the extent that all or any part of the Awards become exercisable, they will remain exercisable until the day before the tenth anniversary of the date of grant provided the individual remains an employee or officer of the Company.

(B)    Costain Group PLC 2014 Long Term Incentive Plan

On 05 April 2017, awards under the Costain Group PLC 2014 Long Term Incentive Plan (the "LTIP") were made over ordinary shares of 50p each in the Company in the form of options with a nil exercise price (the "Awards").  No consideration was paid for the grant of the Awards. 

The vesting of the Awards is subject to the satisfaction of certain performance conditions. The Annual Report 2016 included proposed performance conditions. The performance conditions have now been finalised by the Remuneration Committee of the Company and are as follows:

(a)  an EPS target (relating to 75% of the Awards) of 101.4p (for 15% vesting) and 113.6p (for 100% vesting), with vesting on a straight-line basis between the two; and

(b)  a cash conversion target (relating to 25% of the Awards) of 80% (for 15% vesting) and 100% (for 100% vesting), with vesting on a straight-line basis between the two.

50% of the Awards will normally vest three years after grant, subject to the satisfaction of performance conditions over the three-year financial period ending 31 December 2019, whilst the remaining 50% of the Awards will normally vest on the fifth anniversary of the date of grant (with no further performance conditions required). The Awards will remain exercisable from the date of vesting of each half of the Awards until the day before the tenth anniversary of the date of grant provided the individual remains an employee or officer of the Company.

Awards were made to the following Executive Directors:

Name of Director	Number of Shares subject to the Award
Andrew Wyllie	103,491
Anthony Bickerstaff	68,573

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

ANDREW WYLLIE

2.

Reason for the notification

a)

Position /status

CHIEF EXECUTIVE

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

COSTAIN GROUP PLC

b)

LEI code

213800PKIJBZ2EDTKC88

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 50 PENCE EACH

ISIN:  GB00B64NSP76

b)

Nature of the transaction

GRANT OF 38,064 OPTIONS UNDER THE COMPANY'S 2014 SHARE DEFERRAL PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	38,064

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

05 APRIL 2017

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

ANTHONY OLIVER BICKERSTAFF

2.

Reason for the notification

a)

Position /status

GROUP FINANCE DIRECTOR

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

COSTAIN GROUP PLC

b)

LEI code

213800PKIJBZ2EDTKC88

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 50 PENCE EACH

ISIN:  GB00B64NSP76

b)

Nature of the transaction

GRANT OF 25,221 OPTIONS UNDER THE COMPANY'S 2014 SHARE DEFERRAL PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	25,221

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

05 APRIL 2017

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

ANDREW WYLLIE

2.

Reason for the notification

a)

Position /status

CHIEF EXECUTIVE

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

COSTAIN GROUP PLC

b)

LEI code

213800PKIJBZ2EDTKC88

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 50 PENCE EACH

ISIN:  GB00B64NSP76

b)

Nature of the transaction

GRANT OF 103,491 OPTIONS UNDER THE COMPANY'S 2014 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	103,491

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

05 APRIL 2017

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

ANTHONY OLIVER BICKERSTAFF

2.

Reason for the notification

a)

Position /status

GROUP FINANCE DIRECTOR

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

COSTAIN GROUP PLC

b)

LEI code

213800PKIJBZ2EDTKC88

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 50 PENCE EACH

ISIN:  GB00B64NSP76

b)

Nature of the transaction

GRANT OF 68,573 OPTIONS UNDER THE COMPANY'S 2014 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	68,573

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

05 APRIL 2017

f)

Place of the transaction

OUTSIDE A TRADING VENUE

06 APRIL 2017

Enquiries:

Costain Group PLC                                                                                            Tel: 01628 842444

Tracey Wood

Company Secretary

Instinctif Partners	Tel: 020 7457 2020
Mark Garraway Helen Tarbet

This information is provided by RNS

The company news service from the London Stock Exchange

END

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