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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Forterra Plc | LSE:FORT | London | Ordinary Share | GB00BYYW3C20 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.40 | 0.86% | 163.40 | 162.60 | 163.20 | 169.40 | 162.00 | 169.40 | 13,414 | 08:26:36 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Concrete Block And Brick | 455.5M | 58.8M | 0.2849 | 5.69 | 334.37M |
TIDMFORT
RNS Number : 4401Z
Forterra plc
18 September 2020
18 September 2020
Forterra plc
Grant under Performance Share Plan
Forterra plc (the "Company") announces that on 17 September 2020 awards over ordinary shares of GBP0.01 each in the capital of the Company were granted to certain Directors and persons discharging managerial responsibility ("PDMRs") under the Forterra plc Performance Share Plan ("PSP") as follows:
Name of Director / PDMR Number of Shares over which the PSP Award is granted Stephen Harrison (Chief Executive Officer) 344,858 ----------------------------------------------------- Ben Guyatt (Chief Financial Officer) 203,947 ----------------------------------------------------- George Stewart (Operations Director) 57,778 ----------------------------------------------------- Adam Smith (Commercial Director) 57,778 ----------------------------------------------------- Shahbaz Idriss (HR Director) 55,263 ----------------------------------------------------- Darren Rix (Strategy and Development Director) 45,395 ----------------------------------------------------- Matt Day (IT Director) 49,524 ----------------------------------------------------- Peter Varnsverry (Managing Director, Bison Precast) 62,408 ----------------------------------------------------- Ashley Thompson (Company Secretary) 13,158 ----------------------------------------------------- Other management 185,167 ----------------------------------------------------- Total awards granted 1,075,276 -----------------------------------------------------
No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of GBP0.01 per Ordinary Share. The number of Ordinary Shares granted under the award has been calculated using a share price of 190.00 pence being an average mid-market quotation as derived from the London Stock Exchange Daily Official List for the last 5 days of trading.
The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company. The awards will normally vest on 17 September 2023, subject to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time. Further information regarding the PSP is set out in the Annual Report and Accounts.
The performance conditions applying to these awards are as follows:
Performance % of award subject The Company's % of PSP award condition to condition TSR compared which will vest against Index TSR Company's total shareholder return (TSR) against Index Less than Index TSR 100% TSR 0% ------------------- ------------------- -------------------- Equal to Index TSR 25% ------------------- ------------------- -------------------- Between Index On a straight TSR and Index line basis between TSR plus 25 25% and 100% percentage points ------------------- -------------------- Equal to Index TSR plus 25 percentage points 100% ------------------- ------------------- --------------------
Due to uncertainty related to COVID-19 setting meaningful EPS targets is difficult so in this instance all awards are subject to a TSR performance condition. Further information on the index of comparable companies is disclosed in the 2019 Annual Report and Accounts.
In addition, the Company also announces that the PDMR's have cancelled share options as follows under the Company's all employee sharesave plan:
Name of Director / PDMR Cancelled Share options under 2019 and 2017 plans Stephen Harrison (Chief Executive Officer) 8,108 -------------------------------------------------- Ben Guyatt (Chief Financial Officer) 8,108 -------------------------------------------------- George Stewart (Operations Director) 8,108 -------------------------------------------------- Adam Smith (Commercial Director) 8,108 -------------------------------------------------- Darren Rix (Strategy and Development Director) 8,107 -------------------------------------------------- Peter Varnsverry (Managing Director, Bison Precast) 8,108 -------------------------------------------------- Ashley Thompson (Company Secretary) 8,108 --------------------------------------------------
The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries
+44 (0) 1604 707 Forterra plc: 600 Ashley Thompson (Company Secretary) FTI Consulting (public relations adviser to Forterra): +44 (0) 20 3727 1340 Richard Mountain Nick Hasell
Forterra plc
Further information relating to the Company and its group can be found at www.forterraplc.co.uk
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September 18, 2020 05:12 ET (09:12 GMT)
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