Augean Plc Director/PDMR Shareholding (9124N)

TIDMAUG

RNS Number : 9124N

Augean Plc

01 November 2016

1 November 2016

Augean plc

("Augean" or "the Group")

Grant of Share Options under Long Term Incentive Plan

Total voting rights

Augean, one of the UK's leading specialist waste management businesses, announces that it has granted share options ("Options") to certain of its directors, persons discharging managerial responsibility ("PDMRs") and employees for up to 1,438,043 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the Augean plc 2014 Long Term Incentive Plan (the "LTIP").

424,925 of these Options have been granted to Stewart Davies as set out below:

 
 Director           Number of       Total Number         % of issued 
              Options granted    of Options held       share capital 
                                  following this         represented 
                                           grant    by total options 
                                                                held 
 Stewart 
  Davies              424,925          2,253,133               2.19% 
 

In addition, 900,000 of these Options have been granted to PDMRs (other than Stewart Davies) as set out below:

 
 PDMR               Number of Options 
                              granted 
 Helen Simms                  150,000 
 Gene Wilson                  150,000 
 Nigel Bowen                  150,000 
 Edward Pigg                  150,000 
 Andrew Woolcock              150,000 
 Simon Gibb                   150,000 
 

The Options have certain performance conditions attaching to them and are based on the achievement of these conditions during the period from 1 January 2016 to 31 December 2018. The Options are subject to the achievement of a Return on Capital Employed ("ROCE") condition being met following which the Options vest as follows:

i. 25% of each award will vest subject to performance conditions based on the Company's relative total shareholder return ("TSR"), comprising both the change in share price and cumulative dividends. The Company's TSR will be measured relative to the FTSE AIM All-Share Index; and

ii. 75% of each award will be subject to performance conditions based on the Company's diluted earnings per share.

To the extent that the performance conditions have been satisfied, the Options will vest on the date of the publication of the Company's 2018 Annual Report and Accounts. The Options have an exercise price of 10 pence each.

Following the above grant there are 5,624,272 options over Ordinary Shares. This represents 5.47% of the current issued share capital of the Company, which comprises 102,748,383 Ordinary Shares.

Total voting rights

The Company has a total of 102,748,383 Ordinary Shares in issue each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. This figure of 102,748,383 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

 
 1     Details of the person discharging managerial responsibilities/person closely associated 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                     1. Stewart Davies 
                                                                 2. Helen Simms 
                                                                 3. Gene Wilson 
                                                                 4. Nigel Bowen 
                                                                 5. Edward Pigg 
                                                                 6. Andrew Woolcock 
                                                                 7. Simon Gibb 
----  -------------------------------------------------------  ------------------------------------------------------- 
 2     Reason for the notification 
----  ---------------------------------------------------------------------------------------------------------------- 
                                                                1. Chief Executive Officer 
  a)    Position/status                                         2. PDMR - Director of Radioactive Waste Services 
                                                                3. PDMR - Director of Corporate Stewardship 
                                                                4. PDMR - Director of Industry and Infrastructure 
                                                                5. PDMR - Director of Augean Integrated Services 
                                                                6. PDMR - Director of Energy and Construction 
                                                                7. PDMR - Managing Director of Augean North Sea 
                                                                Services 
----  -------------------------------------------------------  ------------------------------------------------------- 
 b)    Initial notification/Amendment                           Initial notification 
----  -------------------------------------------------------  ------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                     Augean Plc 
----  -------------------------------------------------------  ------------------------------------------------------- 
 b)    LEI                                                      N/a 
----  -------------------------------------------------------  ------------------------------------------------------- 
 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         Ordinary 10p shares 
       instrument                                                ISIN: GB00B02H2F76 
       Identification code 
----  -------------------------------------------------------  ------------------------------------------------------- 
 b)    Nature of the transaction                                Grant of Options 
----  -------------------------------------------------------  ------------------------------------------------------- 
 c)    Price(s) and volume(s)                                      Price(s)      Volume(s) 
                                                                 --------------  ---------- 
                                                                  1. 10 pence     424,925 
                                                                   2. 10 pence     150,000 
                                                                   3. 10 pence     150,000 
                                                                   4. 10 pence     150,000 
                                                                   5. 10 pence     150,000 
                                                                   6. 10 pence     150,000 
                                                                   7. 10 pence     150,000 
                                                                 --------------  ---------- 
----  -------------------------------------------------------  ------------------------------------------------------- 
 d)    Aggregated information                                   N/a (Single transaction) 
        - Aggregated volume 
        - Price 
----  -------------------------------------------------------  ------------------------------------------------------- 
 e)    Date of the transaction                                  31 October 2016 
----  -------------------------------------------------------  ------------------------------------------------------- 
 f)    Place of the transaction                                 London Stock Exchange, AIM 
----  -------------------------------------------------------  ------------------------------------------------------- 
 

For further information, call:

 
 Augean plc 
  Dr Stewart Davies, Chief 
  Executive 
  Richard Laker, Group Finance 
  Director                        01937 844 980 
 N+1 Singer 
  Shaun Dobson 
  Jennifer Boorer 
  Alex Price                      020 7496 3000 
 FTI Consulting 
  Oliver Winters 
  Fiona Walker                    020 3727 1535 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 01, 2016 03:00 ET (07:00 GMT)