World News: 11:30 GMT Thursday 6th December 2018. [Stagecoach Group PLC via Globe Newswire via SPi World News]
Awards made on 25 June 2015 (“2015 Awards”) under the EPP to directors and other persons discharging managerial responsibilities (“PDMR”s) of Stagecoach Group plc (the “Company”), vested on 5 December 2018, resulting in awards of notional interests in Ordinary Shares of 125/228p in the Company (“Deferred Shares”) being released and transferred to those persons for nil consideration in accordance with the rules of the EPP.
On or after 5 December 2018, the Company will transfer to Martin Griffiths, Ross Paterson and Robert Andrew ordinary shares of 125/228p each (“Ordinary Shares”) equivalent to the number of Deferred Shares in their respective awards, less a number of shares equivalent in value to payroll tax deductions due on the vesting of those awards.
A summary of these proposed transactions is set out below:
In addition, 2015 Awards held by Tim Shoveller (PDMR) and Mark Threapleton (PDMR) over 18,048 and 12,187 Deferred Shares respectively vested on 5 December 2018 and will be satisfied by a payment equivalent to the mid-market closing value of an Ordinary Share on the vesting date for each Deferred Share that vested under their awards, subject to deduction of payroll taxes.
On 6 December 2018, each of the directors/ persons discharging managerial responsibilities (“PDMR”s) set out below was granted new Deferred Share awards under the EPP. The transactions have been notified in accordance with the requirements of the EU Market Abuse Regulation.
The EPP awards are notional interests in Ordinary Shares of 125/228p in the Company (“Deferred Shares”) together with an entitlement to receive a payment on vesting in respect of any dividends declared on the Deferred Shares throughout the vesting period. The awards were made on 6 December 2018 and are subject to a restricted period of three years from the date of grant. The awards will generally vest on the expiry of this three-year period and the normal date of vesting will be 6 December 2021.
The awards made were as follows:
The announcements on the vesting and granting of EPP Awards, including the notifications below, are made in accordance with the requirements of the EU Market Abuse Regulation.
For further information, please contact: Martin Griffiths, Chief Executive 01738 442111 Ross Paterson, Finance Director 01738 442111 Steven Stewart, Director of Corporate Communications 07764 774680 6 December 2018
Globe Newswire: 11:30 GMT Thursday 6th December 2018
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