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MJ Gleeson - Long Term Incentive Plan Award

This content has been sourced from: https://www.investegate.co.uk/mj-gleeson-plc/rns/l...

MJ Gleeson plc ("Gleeson" or the "Company")

Long Term Incentive Plan award to Directors/Employees

The Company announces that on 16 July 2020 Stefan Allanson, Chief Financial Officer,  together with certain other key employees of the Company, exercised share options over 188,253 ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") in connection with the Company's Long Term Incentive Plan.

Application has been made for the admission to trading of the new Ordinary Shares, which will rank pari passu in all respects with the Company's existing Ordinary Shares, on the Main Market of the London Stock Exchange and to listing on the Official List of the UKLA, with dealings expected to commence on or around 21 July 2020.

Subsequent to the exercise of the share options on 16 July 2020, of which Stefan Allanson exercised share options over 77,345 Ordinary Shares, the Company has been notified that Stefan Allanson agreed to sell 36,461 Ordinary Shares at a price of £6.80 per Ordinary Share in order to satisfy tax liabilities resulting from the exercise of the abovementioned options. Completion of this sale is expected to occur on or around 21 July 2020. 

Following the completion of the exercise and the sale, Stefan Allanson's aggregate shareholding will have increased to 120,325 Ordinary Shares, representing 0.21 per cent. of the total voting rights in the Company.

Total Voting Rights

Following the completion of issue of the new Ordinary Shares to Stefan Allanson and key employees of the Company the total number of issued Ordinary Shares will be 58,255,788. The Company does not hold any Ordinary Shares in Treasury.

Therefore, from completion of the issue of the new Ordinary Shares the total number of Ordinary Shares with voting rights is 58,255,788 which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's DTR.