RNS Number : 7179Y

Forterra plc

10 May 2019

10 May 2019

Forterra plc

Forterra plc (the "Company")

Director / PDMR Shareholdings

Following the vesting on 26 April 2019 of share options granted to management under the 2016 Performance Share Plan (PSP), the Company was notified on the 9 and 10 May 2019 that on the 8 and 9 May the following exercise and sale transactions took place:

Stephen Harrison, Shatish Dasani, Ben Guyatt and George Stewart exercised options granted under the PSP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities. In addition, George Stewart also exercised options granted under the Deferred Annual Bonus Plan (DABP) which had vested in 2018. Again, sufficient shares were sold to meet the appropriate tax and national insurance liabilities with the balance being retained.

Name	Status	No. of shares exercised		Sale Date	Number of shares sold	Price	Number of shares retained	Beneficial interest	% of ISC
		PSP	DABP
Stephen Harrison	PDMR	204,073		8/5/19	96,252	£2.883	107,821	134,532	< 1%
Ben Guyatt	PDMR	35,712		8/5/19	16,844	£2.883	18,868	24,424	< 1%
George Stewart	PDMR	24,488	17,306	8/5/19	19,713	£2.883	22,081	31,183	< 1%
Shatish Dasani	PDMR	122,443		9/5/19	57,751	£2.825	64,692	177,475	< 1%

The 2016 PSP awards were granted with half of the awards subject to an EPS performance condition and the other half of the awards subject to a TSR performance condition. The EPS performance condition vested at 36.9% of the maximum and the TSR performance condition vested at 100% of the maximum. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 0.073294 additional share for every vesting share.  The Remuneration Committee also agreed to waive the 1p per option cost upon exercise.   

The shares to be retained by management are to be transferred to management by the Employee Benefit Trust.

The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries

Forterra plc:	+44 (0) 1604 707 600
Ben Guyatt (Company Secretary)
FTI Consulting:	+44 (0) 20 3727 1340
Richard Mountain/Nick Hasell

Further information relating to the Company and its group can be found at www.forterraplc.co.uk.

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Stephen Harrison

2.

Reason for the notification

a)

Position/status

PDMR (Chief Executive Officer)

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Forterra plc

b)

LEI

5299007SD2PDQMKM5278

4.

Details of the transaction(s):

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 1p each

GB00BYYW3C20

b)

Nature of the transaction

Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the PSP scheme on 31 May 2016 and vesting on 26 April 2019

c)

Price(s) and volume(s)

Transaction	Price(s)	Volume(s)
	£Nil £2.883 £Nil	204,073 options vesting 96,252 shares sold to settle tax and NI 107,821 shares acquired

d)

Aggregated information

Transaction	Price(s)	Volume(s)	Total
Sale	£2.883	96,252	£277,795

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Ben Guyatt

2.

Reason for the notification

a)

Position/status

PDMR (Director of Finance and Company Secretary)

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Forterra plc

b)

LEI

5299007SD2PDQMKM5278

4.

Details of the transaction(s):

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 1p each

GB00BYYW3C20

b)

Nature of the transaction

Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the PSP scheme on 31 May 2016 and vesting on 26 April 2019

c)

Price(s) and volume(s)

Transaction	Price(s)	Volume(s)
	£Nil £2.883 £Nil	35,712 options vesting 16,844 shares sold to settle tax and NI 18,868 shares acquired

d)

Aggregated information

Transaction	Price(s)	Volume(s)	Total
Sale	£2.883	16,844	£48,561

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

George Stewart

2.

Reason for the notification

a)

Position/status

PDMR (Operations Director)

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Forterra plc

b)

LEI

5299007SD2PDQMKM5278

4.

Details of the transaction(s):

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 1p each

GB00BYYW3C20

b)

Nature of the transaction

Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the PSP on 31 May 2016 and vesting on 26 April 2019 along with options granted under the DABP granted on 1 June 2016 and vesting on 26 April 2018

c)

Price(s) and volume(s)

Transaction	Price(s)	Volume(s)
	£Nil £2.883 £Nil	41,794 options vesting 19,713 shares sold to settle tax and NI 22,081 shares acquired

d)

Aggregated information

Transaction	Price(s)	Volume(s)	Total
Sale	£2.883	19,713	£56,833

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Shatish Dasani

2.

Reason for the notification

a)

Position/status

PDMR (Chief Financial Officer)

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Forterra plc

b)

LEI

5299007SD2PDQMKM5278

4.

Details of the transaction(s):

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 1p each

GB00BYYW3C20

b)

Nature of the transaction

Acquisition of shares for no consideration pursuant to the exercise of nominal cost options (with the 1p option cost waived by the Company) granted under the PSP on 31 May 2016 and vesting on 26 April 2019

c)

Price(s) and volume(s)

Transaction	Price(s)	Volume(s)
	£Nil £2.825 £Nil	122,443 options vesting 57,751 shares sold to settle tax and NI 64,692 shares acquired

d)

Aggregated information

Transaction	Price(s)	Volume(s)	Total
Sale	£2.825	57,751	£163,147

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