Ashtead Group plc
22nd June 2020
ASHTEAD GROUP PLC
Director / PDMR
Shareholding
Ashtead Group plc (the “Company”) announces that on 19 June 2020 it made the annual awards
For 2020 to 317 senior executives under its Performance Share
Plan (“PSP”).
Awards under the PSP comprise the conditional right to receive
ordinary shares of 10p each. Vesting of awards is subject to
continued employment and the achievement of challenging performance
targets set by the Remuneration Committee. The Company intends to
utilise shares held by the Group’s Employee Share Ownership Trust
to fulfil any obligations to award shares to employees, which may
arise.
For awards made in 2017 and thereafter, executive directors, who
were directors at time the awards were made are required to hold
any vested shares, after selling sufficient shares to fund their
tax liability, for a further two years from the date of
vesting.
The following awards were made to the executive directors:
Director |
Number of ordinary 10p shares
covered by the award |
Brendan
Horgan
|
60,911 |
Michael
Pratt
|
25,905 |
The exercise price for the above awards is GBP1 for all ordinary shares to which the award
relates. No consideration was paid for the grant of any of these
awards.
The Company further announces that the awards made to its
executive directors in June 2017
vested on 19 June 2020.
As a result of the vesting of the 2017 awards the directors
received the following number of ordinary 10p shares:
Director |
Number of ordinary
10p shares received |
Brendan
Horgan
|
66,108 |
Michael Pratt
|
23,736 |
Brendan Horgan and Michael Pratt sold 33,054 and 11,156 ordinary
10p shares respectively on
19 June 2020 at 2736p per share to
fund the tax payable on the exercise and retained the balance of
the shares.
The directors’ total shareholdings are:
Director |
Number of ordinary
10p shares |
Percentage of issued Share
capital* |
Brendan
Horgan
|
433,938 |
0.10 |
Michael Pratt
|
283,667 |
0.06 |
*Excluding treasury shares.
Contact:
Eric
Watkins
Tel: 020 7726 9740