TIDMMGNS

RNS Number : 7428Y

Morgan Sindall Group PLC

07 March 2017

MORGAN SINDALL GROUP plc

(the "Company")

Notification of Transactions by Directors

The Morgan Sindall 2014 Long Term Incentive Plan (the Plan)

Grant of conditional share awards

On 6 March 2017, certain directors of the Company were granted conditional share awards over ordinary shares of 5p each in the capital of the Company ("shares") under the Morgan Sindall 2014 Long Term Incentive Plan ("the Plan").

Details of the directors and the number of shares under conditional share awards granted to them under the Plan are set out below:

 
 Director          Number of conditional 
                       shares awarded 
----------------  ---------------------- 
 John Morgan              72,636 
----------------  ---------------------- 
 Steve Crummett           57,918 
----------------  ----------------------

Conditional share awards will normally vest on 6 March 2020 being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the following performance conditions, which are measured over a period of three financial years ending on 31 December 2019:

-- the number of shares under award representing 100% of the relevant director's salary will be based on a performance condition measuring the Company's earnings per share (EPS). EPS will be expressed in cumulative pence terms and will be equivalent to a growth rate of 6-13% per year over the three-year period; and

-- the number of shares under award representing 50% of the relevant director's salary will be based on a performance condition measuring the Company's total shareholder return ("TSR") compared with seven of its UK listed peers. TSR will be expressed as an outperformance of median TSR with full vesting for the TSR component requiring 10% per year outperformance of the comparator median.

Depending on whether or not the performance conditions are met the directors will receive between 0% and 100% of the award. Details of the performance conditions will be set out in the Directors' Remuneration Report in the Company's 2016 Annual Report (which will be published on or about 27 March 2017).

These awards will be subject to a two year holding period on vesting. The base price for calculating the number of conditional shares award was GBP10.13, the average closing share price between 27 February 2017 and 3 March 2017.

No consideration was paid for the grant of the awards.

Following the grant of the conditional share awards under the Plan these directors maintain the following beneficial interests in the issued share capital of the Company:

 
 Director          Beneficial   % of the   Total number    Total number 
                    interest     issued      of shares     of conditional 
                     in the       share     over which      share awards 
                     shares      capital    options are         held 
                     of the      of the        held 
                     Company     Company 
----------------  -----------  ---------  -------------  ---------------- 
 John Morgan       4,504,352     10.07       106,364          320,630 
----------------  -----------  ---------  -------------  ---------------- 
 Steve Crummett      14,615       0.03          Nil           248,877 
----------------  -----------  ---------  -------------  ----------------

This notification relates to transactions notified in accordance with both Disclosure Rule 3.1.4R (1) (a) and Disclosure Rule 3.1.4R (1) (c).

Contact:

   Clare Sheridan                                     Tel: 020 7307 9200

Company Secretary

7 March 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 07, 2017 05:39 ET (10:39 GMT)

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