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LONDON - Billington Holdings Plc (AIM:BILN), a prominent UK structural steel and construction safety solutions provider, announced that two of its executive directors have exercised options for a combined total of 221,275 ordinary shares. These transactions took place under the company’s Long Term Incentive Plan (LTIP).
On Monday, Chief Executive Officer Mark Smith and Chief Financial Officer Trevor Taylor exercised their LTIP options granted on July 27, 2022, for 126,443 and 94,832 ordinary shares, respectively, at no cost. A portion of these shares, 59,428 for Smith and 44,571 for Taylor, were subsequently sold back to the Employee Share Ownership Trust (ESOT) to cover tax and National Insurance liabilities.
Following these transactions, CEO Mark Smith’s direct shareholding in Billington stands at 196,202 shares, with an additional 71,195 shares under the Deferred Bonus Plan (DBP) held in ESOT, and 209,322 LTIP options. Smith’s total potential shareholding, including LTIP options and DBP shares, could reach 3.58%. Similarly, CFO Trevor Taylor now holds 151,809 direct shares, 55,187 DBP shares, and 169,444 LTIP options, with a total potential shareholding of 2.82%.
The shares used to satisfy the LTIP exercises were transferred from the ESOT, and the directors retained the maximum number of shares permissible post-exercise.
Billington’s announcement reflects the ongoing commitment of its executive leadership to the company, as holding onto a significant number of shares post-exercise typically signals confidence in the company’s future performance. The information in this article is based on a press release statement from Billington Holdings Plc.
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