Balfour Beatty PLC Director/PDMR Shareholding (1038J)

TIDMBBY

RNS Number : 1038J

Balfour Beatty PLC

27 March 2018

Notification of transactions by Persons Discharging Management Responsibilities ("PDMRs") or Connected Persons

Balfour Beatty plc (the "Company") was informed on 27 March 2018 by the Trustee of the Balfour Beatty Employee Share Ownership Trust (the "Trust") that on 27 March 2018 each of the following PDMRs received an award over the number of Ordinary Shares of 50p each ("Ordinary Shares") in the Company as shown below pursuant to the rules of the Company's Performance Share Plan:

Directors: (Name: Number of Ordinary Shares under award)

 
 Leo Quinn          592,373 
 Philip Harrison    259,163 
 

No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards.

The awards will normally vest on the third anniversary of grant subject to the grantee's continued service and to the extent performance conditions are achieved.

The performance condition applying to one third of each award (the "TSR Part") will measure the Company's total shareholder return performance ("TSR") over a three year period relative to the TSR performance over the same period of a comparator group of companies comprising the constituents of the FTSE 51-200 (excluding investment trusts) as at the start of the measurement period. The measurement period for the awards shall comprise three consecutive financial years of the Company, starting with the 2018 financial year.

No portion of the TSR Part will vest unless the Company's TSR performance ranks at least equal to median TSR performance of the comparator group, at which point 25% of the TSR Part will vest, rising on a straight-line basis to 100% vesting for the Company's TSR performance ranking at upper quartile or better relative to the TSR performance of the comparator group companies.

The performance condition applying to a separate one third of each award (the "Cash Part") will measure improvement in the Company's Operating Cash Flow ('OCF') from Continuing Operations over a measurement period starting with the 2018 financial year.

No portion of the Cash Part will vest unless the Company's OCF for the 2020 financial year is greater than GBP141m. Were OCF for 2020 to be greater than GBP141m but not more than GBP176m, 25% to 50% of the Cash Part would vest on a straight-line basis. Were OCF for 2020 to be GBP176m to GBP211m or more, between 50% of and 100% of the Cash Part would vest on a straight-line basis.

The performance condition applying to a separate one third of each award (the "EPS Part") will measure the Company's earnings per share performance over a measurement period starting with the 2018 financial year.

No portion of the EPS Part will vest unless the Company's EPS for the 2020 financial year is 22p, at which point 25% of the EPS Part will vest, rising on a straight-line basis to 100% vesting for the Company's EPS for 2020 being 31p or more.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

Contact and telephone number for queries/

Duly authorised officer of issuer responsible for making notification:

Mr D R Mercer, Company Secretary, 020 7216 6800

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 
 a)   Name                   Leo Martin Quinn 
===  =====================  ======================================== 
 2    Reason for the notification 
 a)   Position/status        Chief Executive 
===  =====================  ======================================== 
 b)   Initial notification   Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
===  =============================================================== 
 a)   Name                   Balfour Beatty plc 
 b)   LEI                    CT4UIJ3TUKGYYHMENQ17 
===  =====================  ======================================== 
 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            Ordinary Shares of 50p each 
       of the financial 
       instrument,            GB0000961622 
       type of instrument 
       Identification 
       code 
===  =====================  ======================================== 
 b)   Nature of              Conditional award pursuant to 
       the transaction        the rules of the Company's Performance 
                              Share Plan. 
 c)   Price(s) 
       and volume(s)                   Price(s)    Volume(s) 
                                      ----------  ---------- 
                                         GBPNil      592,373 
                                      ----------  ---------- 
===  =====================  ======================================== 
 d)   Aggregated                  Single transaction as in 4 (d) 
       information                 above 
       - Aggregated 
       volume 
       - Price 
 e)   Date of the            2018-03-27 
       transaction 
===  =====================  ======================================== 
 f)   Place of               Outside a trading venue 
       the transaction 
===  =====================  ======================================== 
 

Contact and telephone number for queries/

Duly authorised officer of issuer responsible for making notification:

Mr D R Mercer, Company Secretary, 020 7216 6800

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 
 a)   Name                   Philip James Harrison 
===  =====================  ======================================== 
 2    Reason for the notification 
 a)   Position/status        Chief Financial Officer 
===  =====================  ======================================== 
 b)   Initial notification   Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
===  =============================================================== 
 a)   Name                   Balfour Beatty plc 
 b)   LEI                    CT4UIJ3TUKGYYHMENQ17 
===  =====================  ======================================== 
 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            Ordinary Shares of 50p each 
       of the financial 
       instrument,            GB0000961622 
       type of instrument 
       Identification 
       code 
===  =====================  ======================================== 
 b)   Nature of              Conditional award pursuant to 
       the transaction        the rules of the Company's Performance 
                              Share Plan. 
 c)   Price(s) 
       and volume(s)                   Price(s)    Volume(s) 
                                      ----------  ---------- 
                                         GBPNil      259,163 
                                      ----------  ---------- 
===  =====================  ======================================== 
 d)   Aggregated                  Single transaction as in 4 (d) 
       information                 above 
       - Aggregated 
       volume 
       - Price 
 e)   Date of the            2018-03-27 
       transaction 
===  =====================  ======================================== 
 f)   Place of               Outside a trading venue 
       the transaction 
===  =====================  ======================================== 
 

Contact and telephone number for queries/

Duly authorised officer of issuer responsible for making notification:

Mr D R Mercer, Company Secretary, 020 7216 6800

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 27, 2018 07:46 ET (11:46 GMT)