North Midland Construction PLC Performance Share Plan Awards (4890A)

TIDMNMD

RNS Number : 4890A

North Midland Construction PLC

08 June 2016

08 June 2016

North Midland Construction Group PLC

Performance Share Plan Awards

North Midland Construction PLC ("North Midland Construction" or "the Company")) announces that the following share awards over ordinary shares of 10p each in the Company ("Shares") were yesterday granted under the North Midland Construction PLC Performance Share Plan ("PSP"):

 
 Director        Position              Number of Share 
                                        Awards Granted 
 John Homer      Chief Executive       196,363 
 Dan Taylor      Finance Director      103,374 
 Andy Langman    Executive Director    103,374 
 Stuart Proud    Executive Director    103,374 
 

The PSP was approved by the Company's shareholders at the Company's AGM on 19 May 2016.

These awards are subject to a performance condition which will be based on the Company's aggregate adjusted profit before tax and which will be measured over the 3 financial years of the Company 2016, 2017 and 2018. The normal vesting date for these awards will be 7 June 2019, subject to the satisfaction of the performance condition.

The number of shares within the awards shown above (which allow for the acquisition of shares at nil-cost to the extent that the performance condition is achieved) were calculated using the Company's 3-day average share price to the close of business on 6 June 2016 (137.5 pence).

For further information please contact:

North Midland Construction Group PLC - 01623 515 008

Robert Moyle, Chairman

John Homer, Chief Executive

Dan Taylor, Finance Director

This information is provided by RNS

The company news service from the London Stock Exchange

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June 08, 2016 02:00 ET (06:00 GMT)