Last checked at 13 Dec 2019 14:29
13 December 2019
AJ Bell plc
("AJ Bell", the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
On 12 December 2019, AJ Bell granted annual and deferred awards over the Company's ordinary shares of £0.000125 each (Ordinary Shares) to the following executive directors and senior managers, all of whom are PDMRs, under the AJ Bell Executive Incentive Plan (EIP) in respect of bonuses for the year ending 30 September 2020.
Number | Name | Position of PDMR | Number of shares subject to annual award | Number of shares subject to deferred award | |
1. | Andrew Bell | Chief Executive Officer | 90,103 | 135,154 | |
2. | Michael Summersgill | Chief Financial Officer | 33,741 | 50,611 | |
3. | Fergus Lyons | AJ Bell Investcentre Managing Director | 23,924 | 15,949 | |
4. | Charles Galbraith | AJ Bell Youinvest Managing Director | 22,636 | 15,090 | |
5. | Roger Stott | Group Finance Director | 11,983 | 7,989 | |
6. | Louis Petherick | Chief Risk Officer | 8,017 | 5,344 | |
7. | Bruce Robinson | Group Legal Services Director and Company Secretary | 5,521 | 3,680 | |
8. | Mohamed Tagari | Chief Technology Officer | 20,760 | 36,284 | |
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No consideration was paid for the grant of the awards, which have been structured as nominal cost options.
In the case of the Executive Directors, Andrew Bell and Michael Summersgill:
a) the annual awards will normally vest once it has been determined if, and the extent to which, the performance conditions have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020.
b) the deferred awards will, subject to the satisfaction of the performance conditions, normally vest on 30 September 2023.
c) both the annual awards and the deferred awards will be subject to a holding period which expires on 30 September 2024, and will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.
In the case of the Senior Managers, Fergus Lyons, Charles Galbraith, Roger Stott, Louis Petherick, Bruce Robinson and Mohamed Tagari:
a) the annual awards will normally vest once it has been determined if, and the extent to which, the performance conditions have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020.
b) the deferred awards will, subject to the satisfaction of the performance conditions, normally vest on 30 September 2022.
c) both the annual awards and the deferred awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.
In the case of the awards made to Andrew Bell and Fergus Lyons, as they are members of a concert party in relation to the Company, the awards were made conditional upon the independent shareholders of the Company passing an ordinary resolution approving the grant of a waiver under rule 9 of the Takeover Code at the annual general meeting of the Company which is due to be held on 22 January 2020 (or any adjournment of that meeting). If that resolution is not passed, their awards will lapse.
For further information, please contact:
AJ Bell plc
Bruce Robinson, Company Secretary +44 (0) 780 234 4859
AJ Bell plc
Notification of person discharging managerial responsibilities/ person closely associated
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1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||||||||
a) | Name | Andrew Bell
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2. | Reason for the notification | |||||||||||
a) | Position/status | Chief Executive Officer/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | ||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | |||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2023.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume price |
Not applicable single transaction | ||||||||||
e) | Date of the transaction | 12 December 2019 | ||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||
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1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Michael Summersgill
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2. | Reason for the notification | ||||||||||
a) | Position/status | Chief Financial Officer/PDMR
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b) | Initial notification/ Amendment | This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2023.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Fergus Lyons
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2. | Reason for the notification | ||||||||||
a) | Position/status | AJ Bell Investcentre Managing Director/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each | |||||||||
Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Charles Galbraith
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2. | Reason for the notification | ||||||||||
a) | Position/status | AJ Bell Youinvest Managing Director/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Roger Stott
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2. | Reason for the notification | ||||||||||
a) | Position/status | Group Finance Director/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022. | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Louis Petherick
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2. | Reason for the notification | ||||||||||
a) | Position/status | Chief Risk Officer/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022. | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Bruce Robinson
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2. | Reason for the notification | ||||||||||
a) | Position/status | Group Legal Services Director and Company Secretary/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | ||||||||||
a) | Name | Mohamed Tagari
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2. | Reason for the notification | ||||||||||
a) | Position/status | Chief Technology Officer/PDMR
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b) | Initial notification/ Amendment
| This is an initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | AJ Bell plc
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b) | LEI | 213800VNKA7DPWXWJJ36
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument, type of instrument
| Ordinary shares of £0.000125 each
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Identification code | ISIN: GB00BFZNLB60 | ||||||||||
b) | Nature of the transaction | 1. Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and
2. Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022.
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c) | Price(s) and volume(s) |
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d) | Aggregated information
Aggregated volume Price |
Not applicable single transaction | |||||||||
e) | Date of the transaction | 12 December 2019 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||