GB Group PLC Notification of Director's Interest (9664D)

TIDMGBG

RNS Number : 9664D

GB Group PLC

05 February 2018

 
   5 February 2018 
 

GB GROUP PLC

("GBG" or "the Company")

Notification of Director's Interest

The Board of GBG announces that the investment of the executive directors in acquiring shares in the Company in 2017 was carried out under the Bonus Deferral and Share Matching Plan of the Company. Accordingly, subject to the conditions outlined below, the investment of the executive directors has been matched, grossed up for income taxes, to 2.0x the investment made.

The conditional matching awards to the executive directors are set out in the table below. The figures reflect the maximum number of matched shares over which the option might be exercised. The actual number will depend upon the extent to which the established performance conditions are satisfied over the performance period.

 
 Name             Performance     Maximum Matching   Price Payable 
                   Period Award    on Exercise 
---------------  --------------  -----------------  -------------- 
 David Wilson,    1 April 2017    113,208 shares     Nominal Value 
  Group Finance    to                                 (2.5p) 
  & Operations     31 March 
  Director         2020 
---------------  --------------  -----------------  -------------- 
 Nick Brown,      1 April 2017    119,917 shares     Nominal Value 
  Managing         to                                 (2.5p) 
  Director         31 March 
                   2020 
---------------  --------------  -----------------  -------------- 
 

Following this announcement:

(i) Dave Wilson has:

-- a beneficial holding of 239,725 Ordinary Shares (which represents 0.16% of the issued share capital of the Company); and

   --      options over a maximum of 777,636 Ordinary Shares. 

(ii) Nick Brown has:

-- a beneficial holding of 970,807 Ordinary Shares (which represents 0.64% of the issued share capital of the Company); and

   --      options over a maximum of 591,823 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 had approved the establishment of a salary sacrifice, bonus deferral and share matching plan whereby the executive directors and certain senior managers will have the opportunity to elect to invest up to 20% of their annual salary and up to 80% of their annual bonus in ordinary shares. Subject to continued employment, the retention of these shares and the meeting of a demanding financial performance target, the investment will be matched on a gross basis by matching shares, in the form of options with a nominal value exercise price, which will, subject to these conditions, vest after three years.

 
 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                          Initial notification 
        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                      Ordinary shares of 2.5 pence 
        of the financial 
        instrument,                      GB0006870611 
        type of 
        instrument 
        Identification 
        code 
----  -------------------------------  -------------------------------------- 
 b.    Nature of                        Grant of options under share matching 
        the transaction                  plan 
----  -------------------------------  -------------------------------------- 
 c.    Price(s)                          Price(s)   Volume(s) 
        and volume(s)                    ---------  ---------- 
                                            2.5p      113,208 
                                         ---------  ---------- 
----  -------------------------------  -------------------------------------- 
            Aggregated 
             information 
              *    Aggregated volume 
                                          113,208 
 
 d.           *    Price                  2.5p 
----  -------------------------------  -------------------------------------- 
 e.    Date of                          05 February 2018 
        the transaction 
----  -------------------------------  -------------------------------------- 
 f.    Place of                         London Stock Exchange (XLON); 
        the transaction                  AIM 
----  -------------------------------  -------------------------------------- 
 
 
 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                          Initial notification 
        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                      Ordinary shares of 2.5 pence 
        of the financial 
        instrument,                      GB0006870611 
        type of 
        instrument 
        Identification 
        code 
----  -------------------------------  -------------------------------------- 
 b.    Nature of                        Grant of options under share matching 
        the transaction                  plan 
----  -------------------------------  -------------------------------------- 
 c.    Price(s)                          Price(s)   Volume(s) 
        and volume(s)                    ---------  ---------- 
                                            2.5p      119,917 
                                         ---------  ---------- 
----  -------------------------------  -------------------------------------- 
            Aggregated 
             information 
              *    Aggregated volume 
                                          119,917 
 
 d.           *    Price                  2.5p 
----  -------------------------------  -------------------------------------- 
 e.    Date of                          05 February 2018 
        the transaction 
----  -------------------------------  -------------------------------------- 
 f.    Place of                         London Stock Exchange (XLON); 
        the transaction                  AIM 
----  -------------------------------  -------------------------------------- 
 

- 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 
 Nick Prowting 
 
 
 Website                     www.gbgplc.co.uk 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 05, 2018 11:02 ET (16:02 GMT)