Morgan Sindall Group PLC

Director's Dealing • May 22, 2017

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RNS Number : 8492F

Morgan Sindall Group PLC

22 May 2017

Morgan Sindall Group plc

('the Company')

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

2014 Long Term Incentive Plan (the 'Plan')

On 19 May 2017, the performance share awards granted to the executive directors on 19 May 2014 under the Plan vested following partial achievement of the performance conditions at 62.06%.  The remainder of the award which has not vested has now lapsed.  The PDMR's named below have each received shares in satisfaction of the award.  These shares include additional shares representing the dividend equivalent to which they are entitled under the Plan rules.   These shares were satisfied from market purchased shares held in the Morgan Sindall Employee Benefit Trust. 

Both John Morgan and Steve Crummett disposed of sufficient of the vested shares to fund the tax and national insurance contribution (PAYE) payable in respect of them.

Name of Director	Number of performance shares awarded 19 May 2014	62.06% of performance share awards vesting	Number of dividend equivalent shares	Total number of shares vested	Number of shares disposed to satisfy the PAYE payable	Total number of shares transferred to the PDMR	Number of performance share awards lapsed
John Morgan	55,687	34,560	2,642	37,202	17,485	19,717	21,127
Steve Crummett	41,956	26,038	1,991	28,029	13,174	14,855	15,918

The closing mid-market price of a share on 19 May 2017 was £11.90 and the shares disposed to fund the PAYE payable were sold to the Morgan Sindall Employee Benefit Trust at that price.

Interests of Directors and PDMRs

As a result of the above transactions, the PDMRs hold the following interests (all of which are beneficial) in the share capital of the Company:

Name of Director	Beneficial interest in shares	% issued share capital of the Company	Total number of shares over which options are held	Total number of conditional share awards held
John Morgan	4,524,069	10.12	106,364	264,943
Steve Crummett	29,470	0.07	-	206,921

The following disclosures are made in accordance with Article 19 of the Market Abuse Regulation.

1  

Details of the person discharging managerial responsibilities / person closely associated

a)

Name   

John Morgan 

2  

Reason for the notification  

a)  

Position/status   

Executive Director/PDMR 

b)  

Initial notification /Amendment  

Initial notification

3

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

a)  

Name  

Morgan Sindall Group plc

b)  

LEI  

2138008339ULDGZRB345

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 5 pence each

ISIN: GB0008085614 

b)

Nature of the transaction

Vesting of conditional share awards under the Morgan Sindall Group 2014 Long Term Incentive Plan:

-  37,202 shares acquired at nil cost

-  17,485 shares sold to satisfy PAYE payable at £11.90  per share

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Shares:     Acquired £0.00     Sold £11.90	37,202 17,485

d)  

Aggregated information

- Aggregated volume

- Price  

As above 

e)  

Date of the transaction  

19 May 2017

f)  

Place of the transaction  

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated  

a)  

Name   

Steve Crummett 

2

Reason for the notification  

a)  

Position/status   

Executive Director/PDMR 

b)  

Initial notification /Amendment  

Initial notification

3

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

a)  

Name  

Morgan Sindall Group plc

b)  

LEI  

2138008339ULDGZRB345

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 5 pence each

ISIN: GB0008085614 

b)

Nature of the transaction

Vesting of conditional share awards under the Morgan Sindall Group 2014 Long Term Incentive Plan:

-  28,029 shares acquired at nil cost

-  13,174 shares sold  to satisfy PAYE payable at £11.90 per share

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Shares:     Acquired £0.00     Sold £11.90	28,029 13,174

d)

Aggregated information

- Aggregated volume

- Price  

As above 

e)  

Date of the transaction  

19 May 2017

f)  

Place of the transaction

Outside a trading venue

Enquiries:

Clare Sheridan                                                                                  Tel: 020 7307 9200

Company Secretary

22 May 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

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