Share Name Share Symbol Market Type Share ISIN Share Description
Gb Group Plc LSE:GBG London Ordinary Share GB0006870611 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.00 0.15% 658.00 655.00 657.00 661.00 646.00 653.00 392,905 16:35:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 143.5 14.7 7.7 85.5 1,302

GB Group PLC Notification of Director's Interest

27/09/2019 9:24am

UK Regulatory (RNS & others)


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RNS Number : 9476N

GB Group PLC

27 September 2019

 
   27 September 2019 
 

GB GROUP PLC

("GBG" or the "Company")

Notification of Director's Interest

The Board of GBG announces that the purchases of ordinary shares of 2.5p each in the Company ("Ordinary Shares") by the executive directors in the period June to September 2019 were carried out in accordance with the Bonus Deferral and Share Matching Plan of the Company.

Accordingly, subject to the conditions outlined below and pursuant to the Bonus Deferral and Share Matching Plan rules, the executive directors' purchases have been matched with an award of options over Ordinary Shares ("Conditional Matching Option Awards").

The Conditional Matching Option Awards granted to the executive directors are set out in the table below. The awards reflect the maximum number of Ordinary Shares over which the option awards may be exercised. The actual number will depend upon the extent to which the established performance conditions detailed in GBG's annual report are satisfied over the performance period.

 
 Name               Performance Period   Maximum Number     Price Payable 
                     Award                of Conditional 
                                          Matching Option 
                                          Awards 
 Chris Clark        1 April 2019         206,136 Ordinary   Nominal Value 
  Chief Executive    to                   Shares             (2.5p) 
  Officer            31 March 2022 
                   -------------------  -----------------  -------------- 
 David Wilson,      1 April 2019         125,226 Ordinary   Nominal Value 
  Group Finance      to                   Shares             (2.5p) 
  & Operations       31 March 2022 
  Director 
                   -------------------  -----------------  -------------- 
 Nick Brown,        1 April 2019         122,721 Ordinary   Nominal Value 
  Group Managing     to                   Shares             (2.5p) 
  Director           31 March 2022 
                   -------------------  -----------------  -------------- 
 

Following this announcement:

   (i)       Chris Clark has: 

-- a beneficial holding of 273,050 Ordinary Shares (which represents 0.14% of the issued share capital of the Company); and

   --      options over a maximum of 1,334,989 Ordinary Shares 
   (ii)      Dave Wilson has: 

-- a beneficial holding of 321,096 Ordinary Shares (which represents 0.17% of the issued share capital of the Company); and

   --      options over a maximum of 575,487 Ordinary Shares 
    (iii)    Nick Brown has: 

-- a beneficial holding of 1,077,312 Ordinary Shares (which represents 0.56% of the issued share capital of the Company); and

   --      options over a maximum of 486,002 Ordinary Shares. 

A summary of the rules of the Bonus Deferral and Share Matching Plan is as follows:

The Company announced in November 2011 that following consultation with its major shareholders, the Remuneration Committee of the Board approved the establishment of a salary sacrifice, bonus deferral and share matching plan whereby the executive directors and certain senior managers have the opportunity to elect to invest up to 20% of annual salary and up to 80% of annual bonus in Ordinary Shares. Subject to continued employment, the retention of these shares and the meeting of certain financial performance targets, the investment will be matched and grossed up for income taxes, to 2.0x the investment made by matching shares, in the form of options with a nominal value exercise price, which will, subject to these conditions, vest after three years.

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

 
 1.    Details of the person discharging managerial responsibilities 
        / person closely associated 
 a.    Name                             Chris Clark 
      -------------------------------  ------------------------------------------ 
 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                             GB Group plc 
      -------------------------------  ------------------------------------------ 
 b.    LEI                              213800RBAFZIBCV7XR29 
      -------------------------------  ------------------------------------------ 
 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                      Options over Ordinary shares of 2.5 pence 
        of the financial 
        instrument,                      GB0006870611 
        type of instrument 
        Identification 
        code 
      -------------------------------  ------------------------------------------ 
 b.    Nature of the                    Grant of options under the Bonus Deferral 
        transaction                      and Share Matching Plan 
      -------------------------------  ------------------------------------------ 
 c.    Price(s) and                      Price(s)   Volume(s) 
        volume(s)                           2.5p      206,136 
                                                    ---------- 
      -------------------------------  ------------------------------------------ 
            Aggregated 
             information 
              *    Aggregated volume      206,136 
 
 
 d.           *    Price                  2.5p 
      -------------------------------  ------------------------------------------ 
 e.    Date of the                      26 September 2019 
        transaction 
      -------------------------------  ------------------------------------------ 
 f.    Place of the                     Outside of a trading venue 
        transaction 
      -------------------------------  ------------------------------------------ 
 
 
 1.    Details of the person discharging managerial responsibilities 
        / person closely associated 
 a.    Name                             Dave Wilson 
      -------------------------------  ------------------------------------------ 
 2.    Reason for the notification 
      --------------------------------------------------------------------------- 
 a.    Position/status                  Group Finance & Operations Director 
      -------------------------------  ------------------------------------------ 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  ------------------------------------------ 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------- 
 a.    Name                             GB Group plc 
      -------------------------------  ------------------------------------------ 
 b.    LEI                              213800RBAFZIBCV7XR29 
      -------------------------------  ------------------------------------------ 
 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                      Options over Ordinary shares of 2.5 pence 
        of the financial 
        instrument,                      GB0006870611 
        type of instrument 
        Identification 
        code 
      -------------------------------  ------------------------------------------ 
 b.    Nature of the                    Grant of options under the Bonus Deferral 
        transaction                      and Share Matching Plan 
      -------------------------------  ------------------------------------------ 
 c.    Price(s) and                      Price(s)   Volume(s) 
        volume(s)                           2.5p      125,226 
                                                    ---------- 
      -------------------------------  ------------------------------------------ 
            Aggregated 
             information 
              *    Aggregated volume      125,226 
 
 
 d.           *    Price                  2.5p 
      -------------------------------  ------------------------------------------ 
 e.    Date of the                      26 September 2019 
        transaction 
      -------------------------------  ------------------------------------------ 
 f.    Place of the                     Outside of a trading venue 
        transaction 
      -------------------------------  ------------------------------------------ 
 
 
 1.    Details of the person discharging managerial responsibilities 
        / person closely associated 
 a.    Name                             Nick Brown 
      -------------------------------  ------------------------------------------ 
 2.    Reason for the notification 
      --------------------------------------------------------------------------- 
 a.    Position/status                  Group Managing Director 
      -------------------------------  ------------------------------------------ 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  ------------------------------------------ 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------- 
 a.    Name                             GB Group plc 
      -------------------------------  ------------------------------------------ 
 b.    LEI                              213800RBAFZIBCV7XR29 
      -------------------------------  ------------------------------------------ 
 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                      Options over Ordinary shares of 2.5 pence 
        of the financial 
        instrument,                      GB0006870611 
        type of instrument 
        Identification 
        code 
      -------------------------------  ------------------------------------------ 
 b.    Nature of the                    Grant of options under the Bonus Deferral 
        transaction                      and Share Matching Plan 
      -------------------------------  ------------------------------------------ 
 c.    Price(s) and                      Price(s)   Volume(s) 
        volume(s)                           2.5p      122,721 
                                                    ---------- 
      -------------------------------  ------------------------------------------ 
            Aggregated 
             information 
              *    Aggregated volume      122,721 
 
 
 d.           *    Price                  2.5p 
      -------------------------------  ------------------------------------------ 
 e.    Date of the                      26 September 2019 
        transaction 
      -------------------------------  ------------------------------------------ 
 f.    Place of the                     Outside of a trading venue 
        transaction 
      -------------------------------  ------------------------------------------ 
 

- Ends-

For further information, please contact:

 
 GB Group plc                          01244 657333 
 John Constantin, Company Secretary 
 
 Peel Hunt LLP (Nominated Adviser 
  and Broker)                          020 7418 8900 
 Edward Knight 
  Edward Allsopp 
 Nick Prowting 
 
 
 Website                               www.gbgplc.co.uk 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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