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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mcalpine (A) | LSE:MCA | London | Ordinary Share | GB0005645394 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 547.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9756S McAlpine (Alfred) PLC 08 December 2003 Alfred McAlpine plc ("the Company") Notification of Senior Executive Interests Alfred McAlpine plc ("the Company") has been notified that following the sixth anniversary of their original award, a number of the Company's senior executives who have participated in the Alfred McAlpine plc Restricted Share Plan ("the Plan"), have had shares released to them as a result of the Company's outperformance against its peer group. These senior executives have sold some shares in order to meet the tax liability arising on this award and, in part, to release capital for personal reasons whilst significantly increasing their shareholdings in the Company. The Plan was approved by shareholders at the 1996 Annual General Meeting. The key feature of the Plan offered senior executives a long term, performance related award as part of their remuneration package thus providing incentives for outperformance. In order for the award shares to be released, the performance tests required the Company to outperform, relative to a peer group of comparator companies, both in terms of total shareholder return ("TSR") and earnings per share ("EPS") over a six year period. Since 1997, the Company has outperformed this peer group. Following the release on 4 December 2003 of awards under the Plan, 686,873 ordinary shares were sold on 5 December 2003 on behalf of the senior executives listed below at a price of 277.5p per share. The sale was arranged by the Company's brokers Cazenove & Co Limited. Details of the disposals are as follows. Title Number of shares held in Company prior to award Number of shares awarded Number of shares sold Total number of shares held in the Company following sale G O Whitehead Chairman 198,811 629,200 357,972 470,093 I M Grice Chief Executive 20,421 386,100 203,301 203,220 G J Forster Group Company Secretary 30,080 208,780 125,600 113,260 In addition to his award under the Plan, Mr I M Grice also exercised an SAYE share option on 4 December 2003 over 14,870 ordinary shares at an option price of 116p per share, and all 14,870 shares were sold on 5 December 2003 at a price of 277.5p per share. On 4 December 2003, Mr D Lavelle was granted an award under the Plan, which represents a deferred right to receive 35,000 ordinary shares in the Company subject to the satisfaction of performance tests as outlined above. The earliest normal date of vesting for this award is 4 December 2006. On 5 December 2003, Mr D Lavelle bought 5,000 ordinary shares in the Company at a price of 277.5p per share, and on the same date Mr M D Swan bought 3,500 ordinary shares in the Company at a price of 277.5p per share. On 4 December 2003, Mourant & Co. Trustees Limited, as Trustee of the Alfred McAlpine Employee Benefit Trust subscribed at par value for 1,269,880 ordinary shares of 25p each in the Company, and on 5 December 2003 bought 250,000 ordinary shares in the Company at a price of 277.5p per share. Following this announcement, the interests of Mr Whitehead, Mr Grice, Mr Lavelle and Mr Swan as directors of the Company are as follows: Mr Whitehead Mr Grice Mr Lavelle Mr Swan Ordinary Shares 470,093 203,220 5,000 3,500 Restricted Share 312,816 268,652 35,000 76,111 Plan Awards Executive Share 120,000 0 0 0 Options SAYE Share 0 4,442 0 0 Options Total 902,909 476,314 40,000 79,611 %age of issued Share Capital 0.88% 0.46% 0.04% 0.08% All of the above interests are beneficial interests. As potential beneficiaries, the executive directors are each also deemed to have a beneficial interest in the 2,450,340 ordinary shares in the Company currently held by the Trustee of the Alfred McAlpine Employee Benefit Trust. -ends- Notes to Editors 1. The release of these shares from the Restricted Share Plan ("the Plan") is the result of long-term (6 years) performance. 2. The Plan is a share incentive plan aligning executives' interests with those of shareholders. It was approved by shareholders on 22 May 1996, and has been amended by shareholders at three subsequent AGMs in May 1997, May 2000 and May 2002. The plan has been fully disclosed in each of the Company's annual report and accounts since it was approved. 3. Since January 1997, McAlpine's share price has outperformed the FTSE 100 by 105.99%, the FTSE 250 by 70.15%, and the Construction and Building sector by 44.53%. 4. McAlpine is now a service business focused on the built environment. It employs 8,000 people and operates through three principal business streams: Business Services, Capital Projects and Infrastructure Services. 5. McAlpine has restructured its business over the last two years, moving out of house-building (it sold its homes business to Wimpey in 2001) and making seven acquisitions to establish its Business Services and Infrastructure Services operations. Date: 8 December 2003 For further information contact: Alfred McAlpine plc 020 7930 6255 Garry Forster City Profile 020 7448 3244 Simon Courtenay This information is provided by RNS The company news service from the London Stock Exchange END RDSEAEAPESSDFFE
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