Business
Payment of bonus and grant of bonus share awards
Payment of bonus and grant of bonus share awards.
About this update from Severfield Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1636B\n Severfield PLC\n 06 October 2020\n \n \n \n \n 6 October 2020\n \n \n Severfield plc\n \n \n ('the Company' or 'the Group')\n \n \n Payment of bonus and grant of deferred bonus share awards\n \n \n \n \n \n \n \n \n The Company announces that the Board has now approved payment of the deferred executive bonus payments (\"the bonus payments\") for the financial year ended 31 March 2020 (\"FY20\") disclosed at page 135 of the Annual Report for FY20 (\"AR20\"). \n \n \n \n \n \n As reported in AR20, on page 121, due to uncertainty as to the impact of COVID-19, the Board, in June 2020, deferred consideration of the affordability of bonuses for FY 20 until October 2020. Updates as to the impact of COVID-19 were issued via RNS on 29th July 2020 and on 3rd September 2020 confirming that, amongst other things, as a result of the Group's strong financial position, the Board was recommending a final dividend of 1.8p for FY20 (which has now been paid) and would not be claiming for support under any employee-related government support packages including the Coronavirus Job Retention Scheme. Taking into consideration these factors, the bonus payments will now be paid.\n \n \n \n \n \n As a result of the payment of bonuses, 50% of which is payable in shares under the Group's Deferred Share Bonus Plan (\"DSBP\"), awards over shares were granted as set out below, [calculated using the share price half way between close of business on 2nd October 2020 and 5th October 2020 of £0.563:\n \n \n \n \n \n \n \n \n \n \n 1\n \n \n \n \n \n \n \n Details of the person discharging managerial responsibilities/person closely associated\n \n \n \n \n \n \n \n \n a)\n \n \n \n \n Name\n \n \n \n \n \n Alan Dunsmore\n \n \n \n \n \n \n \n \n \n \n \n 2\n \n \n \n \n \n \n \n Reason for the notification\n \n \n \n \n \n \n \n \n a)\n \n \n \n \n Position/status\n \n \n \n \n CEO\n \n \n \n \n \n \n b)\n \n \n \n \n Initial notification/Amendment\n \n \n \n \n Initial notification\n \n \n \n \n \n \n \n 3\n \n \n \n \n \n \n \n Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor\n \n \n \n \n \n \n \n \n a)\n \n \n \n \n Name\n \n \n \n \n \n Severfield plc\n \n \n \n \n \n \n \n \n \n \n b)\n \n \n \n \n LEI\n \n \n \n \n 21380025AWPR78...