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RNS Number : 9186E
BTG PLC
21 July 2016
 

Change in Directors' interests in the shares of BTG plc ("BTG" or the "Company")

This notification is made in accordance with the Company's obligations under the Market Abuse Regulation.

The following transactions have taken place in relation to the executive directors.

Notice of decision by executive directors regarding the vesting of 2013 Performance Share Plan ("PSP") awards:

On 17 July 2013, Louise Makin and Rolf Soderstrom were granted awards under the PSP over 208,807 and 136,864 ordinary shares of 10 pence each in the Company ("Ordinary Shares") respectively (the "2013 Awards"). These awards were due to vest in full on 17 July, 2016 based on the Company exceeding the applicable 3 year performance targets (comprising TSR and EPS measures).

On 15 July 2016, Louise Makin elected to defer the vesting of 50% of the 2013 Award, as allowed under the rules of the PSP, putting those awards at risk for a further two years, in order to receive a matching multiplier award of the same value. That 50% award rolled over and the matching multiplier award will vest in July 2018 subject to meeting the applicable TSR performance condition measured over 5 years from July 2013. The remaining 50% of Louise Makin's 2013 Award vested in full on 17 July 2016. Rolf Soderstrom did not elect to defer the vesting of the 2013 Award which therefore vested in full on 17 July 2016. Following these decisions, the following transactions took place:

Louise Makin

On 18 July, 104,404 Ordinary Shares were released to Louise Makin. 64,070 Ordinary  Shares were sold at an average price of 676.33p per share, raising £432,460.04 after dealing costs, with the proceeds being used mainly to settle her income tax and national insurance liabilities arising from this share release.

 

Following this transaction her total holding has increased by 40,334 Ordinary Shares from 662,550 to 702,884 Ordinary Shares, being 0.183% of the issued share capital of the Company.

 

Rolf Soderstrom

On 18 July, 136,864 Ordinary Shares were released to Rolf Soderstrom. 74,327 Ordinary Shares were sold at an average price of 676.33p per share, raising £501,692.79 after dealing costs, with the proceeds being used mainly to settle his income tax and national insurance liabilities arising from this share release.

 

Following this transaction his total holding has increased by 62,537 Ordinary Shares from 221,691 to 284,228 Ordinary Shares, being 0.074% of the issued share capital of the Company.

In each case the individuals requested consent to deal which was granted by the Chairman in compliance with the Company's share dealing code. The sales took place on 21 July, 2016 on the main market of London Stock Exchange plc.  The ISIN of the Ordinary Shares is GB0001001592.

 

Enquiries:

 

Andy Burrows, Vice President, Corporate and Investor Relations

+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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