Director's Dealing • Jul 5, 2013
Director's Dealing
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information
RNS Number : 6674I
Mears Group PLC
05 July 2013
Mears Group PLC
("Mears" or the "Company")
5 July 2013
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with DTR 3.1.2 R
The Company was notified on 4 July 2013 that David Miles, Chief Executive of Mears, had exercised share options over 292,504 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.
| Date of grant | Scheme Type | Number of Ordinary Shares over which options were exercised | Exercise price per Ordinary Share (pence) | |||||||||
| 1 April 2004 | Unapproved | 30,453 | 1p | |||||||||
| 8 April 2005 | Unapproved | 7,220 | 1p | |||||||||
| 21 April 2006 | Approved | 10,000 | 300p | |||||||||
| 21 April 2006 | Unapproved | 6,087 | 1p | |||||||||
| 28 September 2007 | Unapproved | 50,045 | 1p | |||||||||
| 20 March 2008 | Unapproved | 151,149 | 1p | |||||||||
| 13 October 2008 | LTIP | 26,550 | 1p | |||||||||
| 28 October 2009 | LTIP | 11,000 | 1p | |||||||||
The Company was notified on 4 July 2013 that Alan Long, Executive Director of Mears, had exercised share options over 143,122 ordinary shares of one penny each in the Company ("Ordinary Shares") as detailed below.
| Date of grant | Scheme Type | Number of Ordinary Shares over which options were exercised | Exercise price per Ordinary Share (pence) | |||||||||
| 21 April 2006 | Approved | 10,000 | 300p | |||||||||
| 21 April 2006 | Unapproved | 6,087 | 1p | |||||||||
| 28 September 2007 | Unapproved | 20,018 | 1p | |||||||||
| 20 March 2008 | Unapproved | 75,575 | 1p | |||||||||
| 13 October 2008 | LTIP | 26,550 | 1p | |||||||||
| 28 October 2009 | LTIP | 4,892 | 1p | |||||||||
On 4 July 2013, the Company was also informed that Mr Miles on 3 July 2013 sold 227,484 Ordinary Shares, at an average price of 387.31 pence per share. A significant part of the funds raised was to fund the cost of exercise together with the associated tax charge.
On 4 July 2013, the Company was also informed that Mr Long on 3 July 2013 sold 81,000 Ordinary Shares, at an average price of 387.31 pence per share, entirely funding the cost of exercise together with the significant associated tax charge.
As a result of these transactions:
· Mr Miles has increased his interest in the Ordinary Shares of the Company from 110,000 to 175,020
· Mr Long has increased his interest in the Ordinary Shares of the Company from 4,108 to 66,230
Mr Miles and Mr Long also have interests in share options under the LTIP scheme over 177,980 and 109,088 shares respectively. The options issued under the LTIP scheme are subject to the achievement of EPS and TSR performance conditions.
The exercise and disposal of the Ordinary Shares made by Mr Miles and Mr Long were in accordance with the trading plans Mr Miles and Mr Long entered into on the 28 June 2013.
| Enquiries: | |
| Mears Group PLC | |
| David Miles, Chief Executive | Tel: +44(0)7778 220 185 |
| Joint Broker - Investec | |
| Keith Anderson/Daniel Adams | Tel: +44(0)20 7597 5970 |
| Joint Broker - Canaccord Genuity | |
| Piers Coombs/Lucy Tilley | Tel: +44(0)20 7523 8350 |
| IR - Gable Communications | Tel: +44(0) 20 7193 7463 |
| John Bick/Justine James | Tel: +44(0)7872 061 007 |
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSEAEXLESSDEAF
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.