Aggreko PLC Director/PDMR Shareholding (2630H)
23 Marzo 2020 - 5:11PM
UK Regulatory
TIDMAGK
RNS Number : 2630H
Aggreko PLC
23 March 2020
23 March 2020
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
On 23 March 2020 the following conditional share awards over
ordinary shares of 4 (329/395) pence in Aggreko plc (the "Company")
were made under the Aggreko Deferred Share Bonus Plan (the "DSBP")
and the Aggreko 2015 Long Term Incentive Plan (the "LTIP") to the
Chief Executive Officer, Chief Financial Officer and other Persons
Discharging Managerial Responsibility ("PDMRs") of the Company
based on a price of GBP3.59.
No consideration was paid for the grant of the awards.
DSBP Awards
The following awards were made under the DSBP:
Name of PDMR DSBP Award
Chris Weston 149,456
-----------
Heath Drewett 91,666
-----------
Stephen Beynon 11,284
-----------
Bruce Pool 17,165
-----------
Dan Ibbetson 13,705
-----------
Peter Kennerley 8,520
-----------
Grant Nairn 7,686
-----------
The awards will normally vest on 23 March 2023.
Under Aggreko's remuneration policy approved by shareholders at
the 2018 AGM, bonus payments are payable as 75% in cash and 25%
deferred into shares for three years. Chris Weston and Heath
Drewett have volunteered to defer 100% of their bonus in Aggreko
shares and the Remuneration Committee has welcomed this gesture.
The deferred share awards will be satisfied by market purchased
shares.
LTIP awards
The following awards were made under the LTIP:
Name of PDMR LTIP Award
Chris Weston 532,729
-----------
Heath Drewett 326,740
-----------
Stephen Beynon 301,880
-----------
Bruce Pool 300,047
-----------
Dan Ibbetson 233,286
-----------
Kim Kersey 133,704
-----------
Grant Nairn 137,883
-----------
The vesting of the awards is subject to continued employment and
performance conditions based on the long-term financial performance
of the Group set by the Remuneration Committee of the Company.
The performance period is the three financial years from 1
January 2020 to 31 December 2022. D-EPS will be measured over the
three-year performance period. ROCE will be measured in the final
year of the performance period. The performance criteria are as
follows:
-- 50% of the award is based on three-year D-EPS (aggregate
measurement basis), with 25% of shares awarded against this element
for D-EPS growth of 5% CAGR per annum. Awards will then continue to
vest above that level and will increase straight-line to a maximum
for 12% CAGR per annum growth; and
-- 50% of the award is based on final year ROCE in the range of
13% to 18%, with 25% of shares awarded against this element if 2022
ROCE is 13%. Awards will increase straight-line to the maximum at
18% ROCE in 2022.
Shares will vest after three years and will be subject to a
further holding period of two years, with shares (post-tax)
released on the fifth anniversary from date of grant.
After consideration, the Remuneration Committee determined that
the 2020 grants would be maintained at the standard levels. We
acknowledge that, in common with many other companies we have seen
a recent significant fall in our share price due to external
factors. Under the LTIP rules, the Remuneration Committee has full
discretion to ensure that the final outturns reflect all relevant
factors, including consideration of any windfall gains.
Details of awards granted to PDMRs are set out below in
compliance with Article 19 of Regulation 596/2014.
1 Details of the person discharging managerial responsibilities
a) Name Chris Weston (Chief Executive Officer)
Heath Drewett (Chief Financial Officer)
Stephen Beynon (Managing Director,
Power Solutions)
Bruce Pool (President - Rental Solutions)
Dan Ibbetson (Managing Director)
Kim Kersey (Group People Director)
Peter Kennerley (Group Legal Director
and Company Secretary)
Grant Nairn (Chief Information Officer)
-------------------------- -------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status As detailed in 1a) above
-------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Aggreko plc
-------------------------- -------------------------------------------
b) LEI 2138003R7TGCSVF27H47
-------------------------- -------------------------------------------
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 Ordinary shares of 4 (329/395) pence
financial instrument, each ('Shares')
type of instrument
Identification code GB00BK1PTB7
-------------------------- -------------------------------------------
b) Nature of the transaction Grant of awards under the Aggreko
Deferred Share Bonus Plan.
-------------------------- -------------------------------------------
c) Price(s) and volume(s) PDMR Price(s) Volume(s)
C Weston Nil 149,456
---------- ----------
H Drewett Nil 91,666
---------- ----------
S Beynon Nil 11,284
---------- ----------
B Pool Nil 17,165
---------- ----------
D Ibbetson Nil 13,705
---------- ----------
P Kennerley Nil 8,520
---------- ----------
G Nairn Nil 7,686
---------- ----------
-------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 299,482
- Price nil
-------------------------- -------------------------------------------
e) Date of the transaction 23 March 2020
-------------------------- -------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------- -------------------------------------------
5 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 Ordinary shares of 4 (329/395) pence
financial instrument, each ('Shares')
type of instrument
Identification code GB00BK1PTB7
-------------------------- -------------------------------------------
b) Nature of the transaction Grant of awards under the Aggreko
2015 Long Term Incentive Plan.
-------------------------- -------------------------------------------
c) Price(s) and volume(s) PDMR Price(s) Volume(s)
C Weston Nil 532,729
---------- ----------
H Drewett Nil 326,740
---------- ----------
S Beynon Nil 301,880
---------- ----------
B Pool Nil 300,047
---------- ----------
D Ibbetson Nil 233,286
---------- ----------
K Kersey Nil 133,704
---------- ----------
G Nairn Nil 137,883
---------- ----------
-------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 1,966,269
- Price nil
-------------------------- -------------------------------------------
e) Date of the transaction 23 March 2020
-------------------------- -------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------- -------------------------------------------
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
DSHGZGZFVFNGGZM
(END) Dow Jones Newswires
March 23, 2020 12:11 ET (16:11 GMT)
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