5 Dec 2017 15:18
Connect Group PLC
Director/PDMR Shareholding
Connect Group PLC (the "Company") announces that it has been notified of the following transactions in the Company's ordinary 5p shares undertaken by directors / persons discharging managerial responsibility:
1. Connect Group Long Term Incentive Plan
The following award was granted as a nil cost option, where a participant will normally be entitled to exercise their award and receive free shares between the normal vesting date and tenth anniversary of grant, subject to the extent to which performance conditions have been satisfied and their continuing employment. The vesting of the award will depend on the Company's end-to-end Earnings Per Share (EPS), and Aggregate Free Cash Flow over a fixed three-year performance period starting on the first day of the financial year in which the award was granted. The value of dividends accrued, in the form of dividend equivalents, will be paid at the end of period (third anniversary) based on the number of vested shares. No consideration was paid for the grant of the award. No price is payable on the exercise of the award. For the purposes of this award, the grant was made at a share price of 108.75p.
Name of Participant | Share Price (£) | Form of Award | Normal Vesting Date | Maximum Number of Options |
Mark Cashmore |
1.0875 | Nil-cost option | The day following the end of the performance period on which the performance Conditions have been assessed and notified to the Participant | 401,810 |
David Bauernfeind |
1.0875 | Nil-cost option | The day following the end of the performance period on which the performance conditions have been assessed and notified to the Participant | 285,057 |
Jonathan Bunting |
1.0875 | Nil-cost option | The day following the end of the performance period on which the performance conditions have been assessed and notified to the Participant | 267,873 |
2. Connect Group Deferred Bonus Plan
The following award was granted as a nil cost option, where a participant will be entitled to exercise their award and receive free shares between the normal vesting date and the first anniversary of the normal vesting date, subject to their continuing employment. The awards represent 50% of the annual bonus and economic profit plan total pay-out earned by each participant, deferred into shares for two years, based on the performance against targets set at the start of the financial year ended 31 August 2017. The value of dividends accrued, in the form of dividend equivalents, will be paid on the exercise of the award, based on the number of vested shares. No consideration was paid for the grant of the award. No price is payable on the exercise of the award. For the purposes of this award, the grant was made at a share price of 108.75p.
Name of Participant | Share Price (£) | Form of Award | Normal Vesting Date | Maximum Number of Options |
Mark Cashmore |
1.0875 | Nil-cost option | 5 December 2019 |
102,553 |
Jonathan Bunting |
1.0875 | Nil-cost option | 5 December 2019 |
88,995 |
David Bauernfeind |
1.0875 | Nil-cost option | 5 December 2019 |
14,253 |
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Mark Cashmore
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, Group Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Long Term Incentive Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 401,810 |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| David Bauernfeind | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, Group 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
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Long Term Incentive Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 285,057 |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Jonathan Bunting
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, MD of Connect News & Media | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Long Term Incentive Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 267,873 |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Mark Cashmore
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, Group Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Deferred Bonus Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 102,553 |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Jonathan Bunting
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, MD of Connect News & Media | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Deferred Bonus Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 88,995 |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| David Bauernfeind | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Executive Director, Group 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
| Connect Group PLC | |||
b)
| LEI
| 2138004033ONVOOQXB02 | |||
4
| 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 | Ordinary 5p shares | |||
|
| ||||
Identification code | ISIN: GB00B17WCR61 | ||||
|
| ||||
b)
| Nature of the transaction
| Award of options pursuant to the Connect Group PLC Deferred Bonus Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| £1.0875 | 14,253l |
| |
|
|
|
|
| |
d)
| Aggregated information | n/a single transaction | |||
|
| ||||
- Aggregated volume |
| ||||
|
| ||||
- Price |
| ||||
|
| ||||
e)
| Date of the transaction
| 5 December 2017 | |||
f)
| Place of the transaction
| Grant of the options took place outside of a trading venue | |||
Adele Duff
Deputy Company Secretary