Director/PDMR Shareholding
Updated : 09:56
15 June 2021
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 26 April 2018 of share options granted to to certain senior managers including persons discharging managerial responsibility ("PDMRs") under the 2016 Deferred Annual Bonus Plan ("DABP"), the Company was notified on the 14 June 2021 that on the same day the following exercise took place:
Adam Smith, Commercial Director exercised options granted under the DABP as laid out below and paid the appropriate tax and national insurance liabilities separately.
Name | Status | Number of shares exercised | Exercise Date | Number of shares retained | Beneficial interest | % of ISC |
Adam Smith | PDMR | 17,306 | 14/6/21 | 17,306 | 35,767 | < 1% |
The 2016 DABP awards represent the deferral into ordinary shares of the IPO Bonus to which those 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 subject to the participant being an employee at the time of vesting.
No consideration was paid for the grant of the awards which are structured as nominal (1p) cost options although this sum was waived by the Company on exercise. The number of options exercised also includes a dividend equivalent in addition to the options initially granted in accordance with the rules of the scheme.
No new shares were issued in respect of these transactions with shares being transferred to the individuals from the Forterra Employee Benefit Trust.
The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries
Forterra plc: | +44 (0) 1604 707 600 |
Ashley Thompson (Company Secretary) | |
FTI Consulting: | +44 (0) 20 3727 1340 |
Richard Mountain/Nick Hasell |
Further information relating to the Company and its group can be found at www.forterraplc.co.uk.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Adam Smith | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | PDMR (Commercial Director) | ||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | Forterra plc | ||||||||
b) | LEI | 213800O5DD6ATBVJAD23 | ||||||||
4. | Details of the transaction(s): | |||||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 1p each
GB00BYYW3C20 | ||||||||
b) | Nature of the transaction | Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the DABP scheme on 1 June 2016 and vesting on 26 April 2018 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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