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Aggreko

Director/PDMR Shareholding

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RNS Number : 0263V
Aggreko PLC
03 April 2019
 

3 April 2019

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

On 1 April 2019 the following conditional share awards over ordinary shares of 4 329/395 pence in Aggreko plc (the "Company") were made under the Aggreko 2015 Long Term Incentive Plan (the "LTIP") and under the Aggreko Deferred Share Bonus Plan (the "DSBP") to the Chief Executive Officer, Chief Financial Officer and other Persons Discharging Managerial Responsibility ("PDMRs") of the Company.

 

No consideration was paid for the grant of the awards.

 

LTIP awards

 

The following awards were made under the LTIP:

 

Name of PDMR

LTIP Award

Chris Weston

242,561

Heath Drewett

148,771

Stephen Beynon

137,451

Bruce Pool

123,020

Dan Ibbetson

108,344

Anna Filipopoulos

92,676

Peter Kennerley

67,270

Grant Nairn

58,214

 

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 2019 to 31 December 2021. 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% per annum. Awards will then continue to vest above that level and will increase straight-line to a maximum for 12% per annum growth; and

•     50% of the award is based on final year ROCE in the range of 15% to 22%, with 25% of shares awarded against this element if 2021 ROCE is 15%.  Awards will increase straight-line to the maximum at 22% ROCE in 2021.

 

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. 

 

DSBP Awards

 

The following awards were made under the DSBP:

 

Name of PDMR

DSBP Award

Chris Weston

21,054

Heath Drewett

13,166

Stephen Beynon

7,467

Bruce Pool

12,332

Dan Ibbetson

4,527

Anna Filipopoulos

6,950

Peter Kennerley

4,978

Grant Nairn

3,883

 

The awards will normally vest on 1 April 2022. 

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)

 

Anna Filipopoulos (Group Human Resources 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 /Amendment

 

 

Initial notification

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 financial instrument, type of instrument

 

Identification code

 

 

Ordinary shares of 4 329/395 pence each ('Shares')

 

 

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

242,561

H Drewett

Nil

148,771

S Beynon

Nil

137,451

B Pool

Nil

123,020

D Ibbetson

Nil

108,344

A Filipopoulos

Nil

92,676

P Kennerley

Nil

67,270

G Nairn

Nil

58,214

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

978,307

 

 

nil

e)

 

Date of the transaction

 

 

1 April 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

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 instrument

 

Identification code

 

 

Ordinary shares of 4 329/395 pence each ('Shares')

 

 

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

21,054

H Drewett

Nil

13,166

S Beynon

Nil

7,467

B Pool

Nil

12,332

D Ibbetson

Nil

4,527

A Filipopoulos

Nil

6,950

P Kennerley

Nil

4,978

G Nairn

Nil

3,883

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

74,357

 

 

nil

e)

 

Date of the transaction

 

 

1 April 2019

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 [email protected] or visit www.rns.com.
 
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Quick facts: Aggreko

Price: £7.81

Market: LSE
Market Cap: £2 billion
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