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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Severfield Plc | LSE:SFR | London | Ordinary Share | GB00B27YGJ97 | ORD 2.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.80 | 4.35% | 67.20 | 65.80 | 67.20 | 67.40 | 63.40 | 64.40 | 1,142,423 | 16:35:18 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Structural Steel Erection | 493.61M | 21.57M | 0.0697 | 9.61 | 207.39M |
From Apr 2019 to Apr 2024
TIDMSFR
RNS Number : 1636B
Severfield PLC
06 October 2020
6 October 2020
Severfield plc
('the Company' or 'the Group')
Payment of bonus and grant of deferred bonus share awards
The Company announces that the Board has now approved payment of the deferred executive bonus payments ("the bonus payments") for the financial year ended 31 March 2020 ("FY20") disclosed at page 135 of the Annual Report for FY20 ("AR20").
As reported in AR20, on page 121, due to uncertainty as to the impact of COVID-19, the Board, in June 2020, deferred consideration of the affordability of bonuses for FY 20 until October 2020. Updates as to the impact of COVID-19 were issued via RNS on 29(th) July 2020 and on 3(rd) September 2020 confirming that, amongst other things, as a result of the Group's strong financial position, the Board was recommending a final dividend of 1.8p for FY20 (which has now been paid) and would not be claiming for support under any employee-related government support packages including the Coronavirus Job Retention Scheme. Taking into consideration these factors, the bonus payments will now be paid.
As a result of the payment of bonuses, 50% of which is payable in shares under the Group's Deferred Share Bonus Plan ("DSBP"), awards over shares were granted as set out below, [calculated using the share price half way between close of business on 2(nd) October 2020 and 5(th) October 2020 of GBP0.563:
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1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Alan Dunsmore
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status CEO
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Severfield plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 21380025AWPR781CY104
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 2.5p
instrument GB00B27YGJ97
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of an award under the Company's Deferred Share
Bonus Plan. The award is a nil exercise
cost option normally exercisable between 3 and 10
years after grant subject to continued employment.
No consideration was paid for the grant of the award
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 194,314
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-05
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Ian Cochrane
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status COO
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Severfield plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 21380025AWPR781CY104
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 2.5p
instrument GB00B27YGJ97
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of an award under the Company's Deferred Share
Bonus Plan. The award is a nil exercise
cost option normally exercisable between 3 and 10
years after grant subject to continued employment.
No consideration was paid for the grant of the award .
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 173,161
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-05
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Adam Semple
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Finance Director
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Severfield plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 21380025AWPR781CY104
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 2.5p
instrument GB00B27YGJ97
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of an award under the Company's Deferred Share
Bonus Plan. The award is a nil exercise
cost option normally exercisable between 3 and 10
years after grant subject to continued employment.
No consideration was paid for the grant of the award
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 127,410
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-05
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Derek Randall
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Executive Director
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Severfield plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 21380025AWPR781CY104
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 2.5p
instrument GB00B27YGJ97
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of an award under the Company's Deferred Share
Bonus Plan. The award is a nil exercise
cost option exercisable normally exercisable between 3
and 10 years after grant subject to
continued employment. No consideration was paid for
the grant of the award .
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 164,474
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-05
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
For further information, please contact:
Severfield Alan Dunsmore 01845 577 896
Chief Executive Officer
Adam Semple 01845 577 896
Group Finance Director
Mark Sanderson 01845 577 896
Company Secretary
Jefferies International Simon Hardy 020 7029 8000
Will Soutar 020 7029 8000
Camarco Ginny Pulbrook 020 3757 4980
Tom Huddart 020 3757 4980
Notes to editors:
Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has five sites, c.1,400 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHFSFEFIESSEFS
(END) Dow Jones Newswires
October 06, 2020 02:00 ET (06:00 GMT)
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