TIDMAGK
RNS Number : 2050I
Aggreko PLC
15 June 2017
15 June 2017
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
On 13 June 2017 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 Aggreko Restricted Share Plan 2015 (the "RSP") to the
Chief Executive Officer and other Persons Discharging Managerial
Responsibility ("PDMRs") of the Company.
No consideration was paid for the grant of the awards.
Award to Chief Executive Officer
An award to the Chief Executive Officer was made under the LTIP
as follows:
Name Performance Award Normal vesting
date
Chris Weston 260,718 13 June 2020
The vesting of the award is subject to continued office and
performance conditions based on the long-term financial performance
of the Group set by the Remuneration Committee of the Company.
The three-year performance period over which D-EPS and ROCE
performance will be measured is from 1 January 2017 to 31 December
2019. The performance criteria for the LTIP award is as
follows:
-- 75% of the award is based on three-year cumulative D-EPS as
compared to three-year compound growth in real (RPI-adjusted)
D-EPS. No performance shares will be awarded against this element
if performance is below an equivalent of RPI+3% per annum growth.
Awards will then start to vest above that level and will increase
straight-line to a maximum at an equivalent of RPI+15% per annum
growth; and
-- 25% of the award is based on average ROCE over the
performance period in a range of 20% to 25%. No performance shares
will be awarded against this element if performance is less than
20% and awards will increase straight-line to the maximum at 25%
ROCE.
A proportion of shares which vest will be subject to a further
retention period of up to two years, with one-third being released
(post-tax) on vesting and a further third being released after each
of one and two years from vesting.
Recruitment award to Stephen Beynon
An award was made to Stephen Beynon under the RSP as
follows:
Recruitment Award Normal vesting
date
12,312 1 May 2018
12,311 1 May 2019
The vesting of the award is subject to continued employment at
date of vesting.
Further awards
The following awards were made under the RSP:
Name of PDMR Performance Award Supplementary
Award
------------------- ------------------ --------------
Stephen Beynon 73,870 36,935
------------------- ------------------ --------------
Anna Filipopoulos 42,278 25,366
------------------- ------------------ --------------
Dan Ibbetson 26,651 15,990
------------------- ------------------ --------------
Peter Kennerley 26,651 15,990
------------------- ------------------ --------------
Grant Nairn 23,174 13,904
------------------- ------------------ --------------
Bruce Pool 67,663 33,831
------------------- ------------------ --------------
Volker Schulte 30,387 18,232
------------------- ------------------ --------------
The vesting of both the Performance and Supplementary awards is
subject to continued employment of the PDMR at the date of vesting.
The awards will normally vest on 13 June 2020.
Vesting of the Performance award is also subject to 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 2017 to 31 December 2019. 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 for the
Performance Awards are as follows:
-- 75% of the award is based on three-year cumulative D-EPS,
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
-- 25% of the award is based on final year ROCE in the range of
15% to 20%, with 25% of shares awarded against this element if 2019
ROCE is 15%. Awards will increase straight-line to the maximum at
20% ROCE in 2019.
For all PDMRs, other than Anna Filipopoulos, a proportion of
shares which vest will be subject to a further retention period of
up to two years, with one-third being released (post-tax) on
vesting and a further third being released after each of one and
two years from vesting.
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)
Stephen Beynon (Managing
Director, Power Solutions)
Anna Filipopoulos (Group
Human Resources Director)
Dan Ibbetson (Group Business
Development Director)
Peter Kennerley (Group Legal
Director and Company Secretary)
Grant Nairn (Chief Information
Officer)
Bruce Pool (President - Rental
Solutions)
Volker Schulte (Group Manufacturing
and Technology Director)
--- ------------------------- ------------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------------------
a) Position/status As detailed in 1a) above
--- ------------------------- ------------------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- ------------------------------------------
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 Ordinary shares of 4 (329/395)
the financial pence each ('Shares')
instrument, type
of instrument
GB00BK1PTB7
Identification
code
--- ------------------------- ------------------------------------------
b) Nature of the Grant of awards under the
transaction Aggreko 2015 Long Term Incentive
Plan and Aggreko Restricted
Share Plan 2015.
--- ------------------------- ------------------------------------------
c) Price(s) and volume(s) PDMR Price(s) Volume(s)
---------------- ---------- ----------
C Weston Nil 260,718
---------------- ---------- ----------
S Beynon Nil 135,428
---------------- ---------- ----------
A Filipopoulos Nil 67,644
---------------- ---------- ----------
D Ibbetson Nil 42,641
---------------- ---------- ----------
P Kennerley Nil 42,641
---------------- ---------- ----------
G Nairn Nil 37,078
---------------- ---------- ----------
B Pool Nil 101,494
---------------- ---------- ----------
V Schulte Nil 48,619
---------------- ---------- ----------
--- ------------------------- ------------------------------------------
d) Aggregated information
- Aggregated volume 736,263
- Price nil
--- ------------------------- ------------------------------------------
e) Date of the transaction 13 June 2017
--- ------------------------- ------------------------------------------
f) Place of the transaction London Stock Exchange
--- ------------------------- ------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHDMGMVGKGGNZM
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June 15, 2017 06:42 ET (10:42 GMT)
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