GB GROUP PLC — Director's Dealing 2016

Jul 13, 2016

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RNS Number : 1273E

GB Group PLC

13 July 2016

	13 July 2016

GB GROUP PLC

("GBG" or the "Company")

Notification of Directors' Interests

Richard Law

The Company announces that Richard Law (GBG's departing Chief Executive Officer) has today notified the Company that between 8th and 13th July 2016 he sold 250,000 ordinary shares of 2.5p each in the Company ("Ordinary Shares") at an average price of 275.1 pence per share as part of a plan to diversify his shareholding ahead of his approaching retirement. 

Following this notification, Mr. Law has:

•   a beneficial holding of 2,066,045 Ordinary Shares (which represents 1.55% of the issued share capital of the Company); and

•   options over a maximum of 900,978 Ordinary Shares.

Dave Wilson

The Company also announces that Dave Wilson (GBG's Group Finance & Operations Director), has today notified the Company that he has exercised options over a total of 135,867 Ordinary Shares awarded in 2013 under GBG's Share Matching Scheme*.  He sold 120,812 of the Ordinary Shares exercised (at an average price of 275.14 pence per share) to cover the exercise costs incurred and tax liabilities arising in respect of the exercise of these options.   Mr Wilson also purchased 39,603 Ordinary Shares in the Company whilst his wife (Mrs Cath Wilson) sold 110,030 Ordinary Shares in the Company at the same time.

Following this notification, Mr. Wilson has:

·      a beneficial holding of 414,779 Ordinary Shares (which represents 0.31% of the issued share capital of the Company); and

·      options over a maximum of 784,098 Ordinary Shares.

* Note:

Share Matching Scheme

The exercise of these options is in accordance with the rules of GBG's Share Matching Scheme (the "Scheme").  Under the Scheme, the executive directors and certain senior managers have the annual opportunity to elect to invest up to 20% of their annual salary and up to 80% of their annual bonus in ordinary shares at market price. Subject to their 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 issued at an exercise price of 2.5 pence per share.

The principle qualification for vesting of the options detailed above was a growth in adjusted earnings per share ("EPS") of at least 25% per annum compounded over 3 financial years. The actual compound growth in EPS over the period was 31% per annum.  The Scheme requires that the options are exercised within 1 year of vesting.  The options vested on 8 June 2016 when the Group's annual results for the year ended 31 March 2016 were announced.

- Ends-

For further information, please contact:

GB Group plc John Constantin, Company Secretary	01244 657333
Peel Hunt LLP (Nominated Adviser and Broker) Richard Kauffer Euan Brown	020 7418 8900
Website	www.gbgplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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