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17 Oct 2024 12:27
BARRATT REDROW PLC
(the 'Company')
Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them.
The Company announces that the following share transactions have been undertaken by the Executive Directors named below:
Vesting of Awards under the Barratt Developments PLC Long Term Performance Plan (the 'LTPP')
In October 2021, both David Thomas (Chief Executive) and Steven Boyes (Chief Operating Officer and Deputy Chief Executive) were granted awards under the LTPP. In February 2022, Mike Scott (Chief Financial Officer was also granted an award under the LTPP. The performance period for each of these awards ended on 30 June 2024, and on 14 October 2024 15% of the awards vested. Details of the awards granted, the number of shares vesting, those sold to cover the tax and national insurance due on release and those retained are set out in the table below:
Executive Director | Number of shares granted under the award | Number of shares vesting | Number of shares lapsed | Number of shares sold at £4.5607 per share | Number of shares retained |
David Thomas | 224,370 | 33,655 | 190,715 | 15,842 | 17,813 |
Steven Boyes | 180,987 | 27,148 | 153,839 | 12,779 | 14,369 |
Mike Scott | 117,716 | 17,657 | 100,059 | 8,312 | 9,345 |
The retained shares are subject to a two-year holding period commencing on 1 July 2024.
Following the above transactions, the Company confirms that at the date of this announcement, each of the Executive Directors of the Company, and their persons closely associated, hold the following total number of options and awards over Ordinary Shares of 10 pence each in the Company:
| Role | Total number of shares under option and/or award |
David Thomas | Chief Executive | 1,214,592 |
Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 983,014 |
Mike Scott | Chief Financial Officer | 692,223 |
Matthew Pratt | Redrow Chief Executive & Executive Director | 287,805 |
In addition, the Company confirms that, at the date of this announcement, each of the Directors of the Company, and their persons closely associated, hold the following total number of ordinary shares of 10 pence each in the Company:
Director/PDMR | Role | Number of Shares |
Caroline Silver | Chair | 10,000 |
David Thomas | Chief Executive | 1,372,239 |
Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 764,444 |
Mike Scott | Chief Financial Officer | 79,177 |
Katie Bickerstaffe | Non-Executive Director | 8,489 |
Jock Lennox | Non-Executive Director | 10,000 |
Jasi Halai | Non-Executive Director | 12,581 |
Nigel Webb | Non-Executive Director | 12,660 |
Matthew Pratt | Redrow Chief Executive & Executive Director | 637,780 |
Nicky Dulieu | Non-Executive Director | 9,360 |
The Notification of Dealing Forms for the above transactions are set out below:
Notification of Dealing Form
1
| Details of the person discharging managerial responsibilities / person closely associated
| |
a)
| Name
| David Thomas
|
2 | Reason for the notification
| |
a)
| Position/status
| Chief Executive |
b)
| Initial notification /Amendment
| Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a)
| Name
| Barratt Redrow plc |
b)
| LEI
| 2138006R85VEOF5YNK29 |
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
|
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan
|
c)
| Price(s) and volume(s)
| 33,655 shares under the Barratt Developments Long Term Performance Plan at no cost |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
|
e)
| Date of the transaction
| 14 October 2024 |
f)
| Place of the transaction
| Outside a trading venue |
4.2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
|
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 |
c)
| Price(s) and volume(s)
| 15,842 shares sold at £4.5607 per share |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
|
e)
| Date of the transaction
| 14 October 2024 |
f)
| Place of the transaction
| XLON |
Notification of Dealing Form - Steven Boyes
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a)
| Name
| Steven Boyes
| |
2 | Reason for the notification
| ||
a)
| Position/status
| Chief Operating Officer and Deputy Chief Executive | |
b)
| Initial notification /Amendment
| Initial notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
a)
| Name
| Barratt Redrow plc | |
b)
| LEI
| 2138006R85VEOF5YNK29 | |
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan | |
c)
| Price(s) and volume(s)
| 27,148 shares under the Barratt Developments Long Term Performance Plan at no cost
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |
e)
| Date of the transaction
| 14 October 2024 | |
f) | Place of the transaction | Outside a trading venue
| |
4.2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |
c)
| Price(s) and volume(s)
| 12,779 shares sold at £4.5607 per share
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |
e)
| Date of the transaction
| 14 October 2024 | |
f)
| Place of the transaction
| XLON | |
Notification of Dealing Form - Mike Scott
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a)
| Name
| Mike Scott
| |
2 | Reason for the notification
| ||
a)
| Position/status
| Chief Financial Officer | |
b)
| Initial notification /Amendment
| Initial notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
a)
| Name
| Barratt Redrow plc | |
b)
| LEI
| 2138006R85VEOF5YNK29 | |
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan | |
c)
| Price(s) and volume(s)
| 17,657 shares under the Barratt Developments Long Term Performance Plan at no cost
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |
e)
| Date of the transaction
| 14 October 2024 | |
f) | Place of the transaction | Outside a trading venue
| |
4.2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |
c)
| Price(s) and volume(s)
| 8,312 shares sold at £4.5607 per share
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |
e)
| Date of the transaction
| 14 October 2024 | |
f)
| Place of the transaction
| XLON | |
This notification is made in accordance with the requirements of the UK Market Abuse Regulation.
For further information, please contact:
Tina Bains, Company Secretary +44 (0) 7469 054476
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