TIDMAUG

RNS Number : 7745D

Augean Plc

02 May 2017

02 May 2017

Augean plc

("Augean" or "the Group")

Grant of Share Options under Long Term Incentive Plan

Augean, one of the UK's leading specialist waste management businesses, announces that it has granted share options ("Options") to certain of its directors, persons discharging managerial responsibility ("PDMRs") and employees for up to 1,580,535 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the Augean plc 2014 Long Term Incentive Plan (the "LTIP").

734,481 of these Options have been granted to Stewart Davies and Mark Fryer as set out below:

 
 Director           Number of       Total Number         % of issued 
              Options granted    of Options held       share capital 
                                  following this         represented 
                                           grant    by total options 
                                                                held 
 Stewart 
  Davies              428,619          2,279,289               2.22% 
 
  Mark 
  Fryer               305,862            305,862                0.3% 
 

In addition, 686,878 of these Options have been granted to PDMRs (other than Stewart Davies and Mark Fryer) as set out below:

 
 PDMR               Number of Options 
                              granted 
 John Rauch                   271,878 
 Andrew Woolcock               83,000 
 Nigel Bowen                   83,000 
 Edward Pigg                   83,000 
 Helen Simms                   83,000 
 Gene Wilson                   83,000 
 

The Options have certain performance conditions attaching to them and are based on the achievement of these conditions during the period from 1 January 2017 to 31 December 2019. The Options will vest as follows:

i. 25% of each award will vest subject to performance conditions based on the Company's relative total shareholder return ("TSR"), comprising both the change in share price and cumulative dividends. The Company's TSR will be measured relative to the FTSE AIM All-Share Index; and

ii. subject to the achievement of a Return on Capital Employed ("ROCE") condition being, 75% of each award will be subject to performance conditions based on the Company's diluted earnings per share.

To the extent that the performance conditions have been satisfied, the Options will vest on the date of the publication of the Company's 2019 Annual Report and Accounts. The Options have an exercise price of 10 pence each.

Following the above grant there are 5,782,828 options over Ordinary Shares. This represents 5.6% of the current issued share capital of the Company, which comprises 102,748,383 Ordinary Shares.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

 
 1     Details of the person discharging managerial responsibilities/person closely associated 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                         1. Stewart Davies 
                                                                     2. Mark Fryer 
                                                                     3. John Rauch 
                                                                     4. Andrew Woolcock 
                                                                     5. Nigel Bowen 
                                                                     6. Edward Pigg 
                                                                     7. Helen Simms 
                                                                     8. Gene Wilson 
----  -----------------------------------------------------------  --------------------------------------------------- 
 2     Reason for the notification 
----  ---------------------------------------------------------------------------------------------------------------- 
                                                                    1. Chief Executive Officer 
  a)    Position/status                                              2. Group Finance Director 
                                                                     3. Group Operating Officer 
                                                                     4. PDMR - Director of Energy and Construction 
                                                                     5. PDMR - Director of Industry and Infrastructure 
                                                                     6. PDMR - Director of Augean Integrated Services 
                                                                     7. PDMR - Director of Radioactive Waste Services 
                                                                     8. PDMR - Director of Corporate Stewardship 
----  -----------------------------------------------------------  --------------------------------------------------- 
 b)    Initial notification/Amendment                               Initial notification 
----  -----------------------------------------------------------  --------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                         Augean Plc 
----  -----------------------------------------------------------  --------------------------------------------------- 
 b)    LEI                                                          213800FX9OGD148QCP81 
----  -----------------------------------------------------------  --------------------------------------------------- 
 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             Ordinary 10p shares 
       instrument                                                    ISIN: GB00B02H2F76 
       Identification code 
----  -----------------------------------------------------------  --------------------------------------------------- 
 b)    Nature of the transaction                                    Grant of Options 
----  -----------------------------------------------------------  --------------------------------------------------- 
 c)    Price(s) and volume(s)                                          Price(s)      Volume(s) 
                                                                     --------------  ---------- 
                                                                      1. 10 pence     428,619 
                                                                       2. 10 pence     305,862 
                                                                       3. 10 pence     271,878 
                                                                       4. 10 pence     83,000 
                                                                       5. 10 pence     83,000 
                                                                       6. 10 pence     83,000 
                                                                       7. 10 pence     83,000 
                                                                       8. 10 pence     83,000 
                                                                     --------------  ---------- 
----  -----------------------------------------------------------  --------------------------------------------------- 
 d)    Aggregated information                                       N/a (Single transaction) 
        - Aggregated volume 
        - Price 
----  -----------------------------------------------------------  --------------------------------------------------- 
 e)    Date of the transaction                                      28 April 2017 
----  -----------------------------------------------------------  --------------------------------------------------- 
 f)    Place of the transaction                                     London Stock Exchange, AIM 
----  -----------------------------------------------------------  --------------------------------------------------- 
 

For further information, call:

 
 Augean plc 
  Dr Stewart Davies, Chief 
  Executive 
  Mark Fryer, Group Finance 
  Director                     01937 844 980 
 N+1 Singer 
  Shaun Dobson 
  Alex Price                   020 7496 3000 
 FTI Consulting 
  Oliver Winters 
  Fiona Walker                 020 3727 1535 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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