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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Driver Group Plc | LSE:DRV | London | Ordinary Share | GB00B0L9C092 | ORD 0.4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 24.50 | 23.00 | 26.00 | 24.50 | 24.50 | 24.50 | 21,584 | 07:36:25 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Heavy Construction, Nec | 42.63M | -336k | -0.0064 | -38.28 | 12.87M |
From May 2019 to May 2024
TIDMDRV
RNS Number : 7179F
Driver Group plc
23 February 2018
Driver Group plc
("Driver" or the "Group")
Directors' Share Options
Driver Group PLC, the global professional services consultancy to construction and engineering industries announces the surrender of existing Share Options held by certain Directors and the grant of new Share Options to certain Directors as detailed below.
Steven Norris, Chairman, has surrendered existing options over 600,000 Ordinary Shares with an exercise price of 63.5 pence per share; and Mark Wheeler, Chief Operating Officer, has surrendered nil cost options over 600,000 Ordinary Shares all of which options were due to expire on 30 September 2018.
The Company has granted new nil cost Share Options to Steven Norris, Chairman; Gordon Wilkinson, Chief Executive; Mark Wheeler, Chief Operating Officer; and David Kilgour, Chief Financial Officer over up to 1,500,000 Ordinary Shares in aggregate, split as follows:
Steven Norris 150,000 Ordinary Shares Gordon Wilkinson 600,000 Ordinary Shares Mark Wheeler 600,000 Ordinary Shares David Kilgour 150,000 Ordinary Shares
Gordon Wilkinson holds existing unvested nil cost Share Options over up to 600,000 Ordinary Shares which are exercisable as to 300,000 Ordinary Shares if PBET for the financial year ending 30 September 2018 is equal to or exceeds GBP3.0m; and as to a further 300,000 shares if PBET for the financial year ending 30 September 2019 is equal to or exceeds GBP3.7m. The new Share Options issued to Steven Norris, Mark Wheeler and David Kilgour will become exercisable in three equal tranches in 2018, 2019, and 2020, in the case of the 2018 and 2019 tranches subject to the achievement of performance targets identical to those attaching to Gordon Wilkinson's existing Share Options; and in the case of the financial year ending 30 September 2020, if PBET for the period is equal to or exceeds GBP4.5m. Gordon Wilkinson's new Share Options will become exercisable in two equal tranches in 2020 and 2021, in the case of the financial year ending 30 September 2020, if PBET for the period is equal to or exceeds GBP4.5m; and in the case of the financial year ending 30 September 2021, if PBET for the period is equal to or exceeds GBP5.5m.
Gordon Wilkinson's existing unvested nil cost Share Options and all of the new nil cost Share Options are also exercisable immediately in the event of a change of control of Driver prior to satisfaction of the performance conditions, in the case of Steven Norris, Gordon Wilkinson and Mark Wheeler in increasing proportions linked to the offer price which triggers a change of control; and in the case of David Kilgour in increasing proportions depending upon the timing of the change of control event.
Gordon Wilkinson, Mark Wheeler and David Kilgour have each been granted additional nil cost Performance Share Options over Ordinary Shares exercisable in Gordon Wilkinson's case as to 10,000 Ordinary Shares for every GBP100,000 by which reported PBET in each of the financial years ending 30 September 2020 and 30 September 2021 exceeds the PBET thresholds set out above; in Mark Wheeler's case as to 6,667 Ordinary Shares for every GBP100,000 by which reported PBET in each of the financial years ending 30 September 2018, 30 September 2019 and 30 September 2020 exceeds the PBET thresholds set out above; and in David Kilgour's case as to 1,667 Ordinary Shares for every GBP100,000 by which reported PBET in each of the financial years ending 30 September 2018, 30 September 2019 and 30 September 2020 exceeds the PBET thresholds set out above.
Driver has in addition granted to Mark Wheeler an unconditional award of nil cost Share Options over 200,000 Ordinary Shares in recognition of his contribution to the improvement in the trading performance and prospects of the Group over the last eighteen months; and has confirmed the award to David Kilgour, in accordance with the terms of his offer of employment with the Group, of nil cost Share Options over 50,000 Ordinary Shares on condition that he first purchase 50,000 Ordinary Shares on his own account (which condition was satisfied on 20 December 2017).
Excluding Performance Share Options, the resulting interests of the Directors in Driver Ordinary Shares are as follows:
Hot Features
Premium
Vested but
unexercised Unvested Share
Ordinary Shares Share Options Options
------------------ ------------------ --------------- -----------------
Steven Norris 237,562 - 150,000
------------------ ------------------ --------------- -----------------
Gordon Wilkinson 650,000 700,000 1,200,000
------------------ ------------------ --------------- -----------------
Mark Wheeler 300,000 200,000 600,000
------------------ ------------------ --------------- -----------------
David Kilgour 50,000 50,000 150,000
------------------ ------------------ --------------- -----------------
John Horgan 50,000 - -
------------------ ------------------ --------------- -----------------
Peter Collini 50,000 - -
------------------ ------------------ --------------- -----------------
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Enquiries:
Driver Group plc
Gordon Wilkinson, Group +44 (0) 7964 518095
Chief Executive Email:gordon.wilkinson@driver-group.com
+44 (0) 7493 867743
David Kilgour, CFO Email: david.kilgour@driver-group.com
N+1 Singer (Nominated
Adviser & Broker)
Sandy Fraser/James White +44 (0)20 7496 3000
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------
a) Name Steven Norris
--- ------------------------- ---------------------------------
2 Reason for the notification
--- ------------------------------------------------------------
a) Position/status Chairman
--- ------------------------- ---------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- ---------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------
a) Name Driver Group plc
--- ------------------------- ---------------------------------
b) LEI 213800FN83KF8AF4Y572
--- ------------------------- ---------------------------------
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 Options over Ordinary Shares
the financial of 0.4p each
instrument, type
of instrument
ISIN Code: GB00B0L9C092
Identification
code
--- ------------------------- ---------------------------------
b) Nature of the (i) Surrender of Options
transaction (ii) Grant of options over
Ordinary Shares
--- ------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s): Volume(s):
(i) Nil 600,000
(ii) Nil 150,000
--- ------------------------- ---------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- ------------------------- ---------------------------------
e) Date of the transaction 22/02/2018
--- ------------------------- ---------------------------------
f) Place of the transaction Off market
--- ------------------------- ---------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name Gordon Wilkinson
--- ------------------------- -----------------------------------
2 Reason for the notification
--- --------------------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name Driver Group plc
--- ------------------------- -----------------------------------
b) LEI 213800FN83KF8AF4Y572
--- ------------------------- -----------------------------------
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 Options over Ordinary Shares
the financial of 0.4p each
instrument, type
of instrument
ISIN Code: GB00B0L9C092
Identification
code
--- ------------------------- -----------------------------------
b) Nature of the (i) Grant of options over
transaction Ordinary Shares
(ii) Grant of performance
share options over Ordinary
Shares
--- ------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s): Volume(s):
(i) Nil 600,000
(ii) Nil 10,000 for
every GBP100k
of reported
PBET above
thresholds
--- ------------------------- -----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- ------------------------- -----------------------------------
e) Date of the transaction 22/02/2018
--- ------------------------- -----------------------------------
f) Place of the transaction Off market
--- ------------------------- -----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------------
a) Name Mark Wheeler
--- ------------------------- ---------------------------------------
2 Reason for the notification
--- ------------------------------------------------------------------
a) Position/status Global Chief Operating Officer
--- ------------------------- ---------------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------------
a) Name Driver Group plc
--- ------------------------- ---------------------------------------
b) LEI 213800FN83KF8AF4Y572
--- ------------------------- ---------------------------------------
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 Options over Ordinary Shares
the financial of 0.4p each
instrument, type
of instrument
ISIN Code: GB00B0L9C092
Identification
code
--- ------------------------- ---------------------------------------
b) Nature of the (i) Surrender of Options
transaction (ii) Grant of options over
Ordinary Shares
(iii) Grant of performance
share options over Ordinary
Shares
--- ------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s): Volume(s):
(i) Nil 600,000
(ii) Nil 800,000
(iii) Nil 6,667 for every
GBP100k of
reported PBET
above thresholds
--- ------------------------- ---------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- ------------------------- ---------------------------------------
e) Date of the transaction 22/02/2018
--- ------------------------- ---------------------------------------
f) Place of the transaction Off market
--- ------------------------- ---------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -----------------------------------------------------------------
a) Name David Kilgour
--- ------------------------- --------------------------------------
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 Driver Group plc
--- ------------------------- --------------------------------------
b) LEI 213800FN83KF8AF4Y572
--- ------------------------- --------------------------------------
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 Options over Ordinary Shares
the financial of 0.4p each
instrument, type
of instrument
ISIN Code: GB00B0L9C092
Identification
code
--- ------------------------- --------------------------------------
b) Nature of the (i) Grant of options over
transaction Ordinary Shares
(ii) Grant of performance
share options over Ordinary
Shares
--- ------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s): Volume(s):
(i) Nil 200,000
(ii) Nil 1,667 for every
GBP100k of
reported PBET
above thresholds
--- ------------------------- --------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- ------------------------- --------------------------------------
e) Date of the transaction 22/02/2018
--- ------------------------- --------------------------------------
f) Place of the transaction Off market
--- ------------------------- --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHTTMLTMBJTBFP
(END) Dow Jones Newswires
February 23, 2018 02:02 ET (07:02 GMT)
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