1 June 2016
Forterra plc
Grant under Deferred Annual Bonus Plan
Forterra plc (the "Company") announces that, on 1 June 2016, awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain senior managers including persons discharging managerial responsibility ("PDMRs") under the Forterra plc Deferred Annual Bonus Plan ("DABP") as follows:
Name of PDMR |
Number of shares over which the award is granted |
Matthew Clay |
18,084 |
George Stewart |
16,666 |
Adam Smith |
16,666 |
Other senior managers |
116,128 |
Total |
167,544 |
These awards represent the deferral into ordinary shares of the IPO Bonus to which the individuals become entitled to following the successful admission of the Company's ordinary share capital to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange plc's main market for listed securities, which occurred on 26 April 2016, as disclosed in the Company's prospectus (the "Prospectus") dated 21 April 2016.
No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per ordinary share. The number of ordinary shares granted under the award has been calculated using the offer price of £1.80 in connection with the Company's initial public offering, as further described in the Prospectus.
The awards will normally vest on 26 April 2018, subject to the participant being an employee within the Company's group at that time. Once vested, the award shall normally remain exercisable until the day before the tenth anniversary of the date of grant. Further terms and conditions of the DABP are set out in the Prospectus.
The Company was informed of the above transaction on 1 June 2016 and the above notification is intended to satisfy the Company's obligations under paragraph 3.1.4R of the FCA's Disclosure Rules and Transparency Rules.
Enquiries
Forterra plc: |
+44 (0) 1604 707 600 |
Shatish Dasani (CFO) |
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Benjamin Guyatt (Company Secretary) |
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FTI Consulting (public relations adviser to Forterra): |
+44 (0) 20 3727 1340 |
Richard Mountain |
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Nick Hasell |
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Forterra plc
Further information relating to the Company and its group can be found at www.forterraplc.co.uk.
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