Last checked at 18 Mar 2016 16:57
Crest Nicholson Holdings plc
Director/PDMR Shareholding
In accordance with the requirements of D.T.R 3.1.2, Crest Nicholson Holdings plc (the "Company") was notified on 17 March 2016 of the following transactions set out in this announcement by certain Directors of the Company and Persons Discharging Managerial Responsibility ("PDMRs") under the Crest Nicholson Holdings plc Long-Term Incentive Plan (the "LTIP")
LTIP Exercise
The Directors and PDMRs set out in the table below were granted options under the LTIP on 8 March 2013. On 8 March 2016 100% of the awards granted under the options became exercisable following satisfaction of the Performance Conditions (relating to return on capital employed, and growth in profit before tax per share). Further details relating to the Performance Conditions of these awards are set out in the Company's IPO Prospectus dated 13 February 2013 and Annual Report in respect of the year ending 31 October 2013 published on 17 February 2014.
On 14 March 2016, following the Company's decision to delay the exercise of options until after the ex-dividend date as part of facilitating an orderly exercise process, additional shares were added to each award, equivalent to the final dividend in respect of financial year ending 31 October 2015 as set out below:
Director/PDMR | Options granted 08/03/2013 | Additional shares added in respect of dividend | Total |
Stephen Stone* | 535,800 | 14,167 | 549,967 |
Patrick Bergin* | 300,000 | 7,932 | 307,932 |
Chris Tinker | 145,221 | 3,839 | 149,060 |
Steve Evans | 123,823 | 3,274 | 127,097 |
Robin Hoyles | 99,107 | 2,620 | 101,727 |
Kevin Maguire | 72,321 | 1,912 | 74,233 |
Tim Beale | 56,283 | 1,488 | 57,771 |
*Denotes an Executive Director of the Company
The additional shares added to the options were calculated based on the ex-dividend share price associated with the dividend together with the value of that dividend, in proportion to the respective option.
On 16 March 2016, those Directors and PDMRs exercised (or part exercised) the options granted to them on 8 March 2013 under the LTIP together with the additional shares (as set out above) over Ordinary Shares of 5 pence each in the Company ("Shares"). Some Directors and PDMRs sold all the shares awarded to them and others sold sufficient shares to meet income tax and national insurance liabilities, retaining the balance. The Company allotted shares from the Company's block listing facility to satisfy the exercise of the Options. Full details of the exercises, subsequent sales and Option balance (in respect of those part-exercising) are set out below:
Share acquired upon exercise or part-exercise | Shares sold | Shares retained | 8 March 2013 Option balance | |||||
Director/PDMR | Number | Percentage of total issued share capital | Exercise price | Number | Sale price per Share | Percentage of total issued share capital | ||
Stephen Stone* | 549,967 | 0.217% | £1.00 in total | 259,393 | £5.29 | 0.102% | 290,574 | Nil |
Patrick Bergin* | 307,932 | 0.121% | £1.00 in total | 145,237 | £5.29 | 0.057% | 162,695 | Nil |
Chris Tinker | 61,000 | 0.024% | £1.00 in total | 28,771 | £5.29 | 0.011% | 32,229 | 88,060 |
Steve Evans | 127,097 | 0.050% | £1.00 in total | 127,097 | £5.29 | 0.050% | Nil | Nil |
Robin Hoyles | 101,727 | 0.040% | £1.00 in total | 47,980 | £5.29 | 0.019% | 53,747 | Nil |
Kevin Maguire | 74,233 | 0.029% | £1.00 in total | 35,013 | £5.29 | 0.014% | 39,220 | Nil |
Tim Beale | 57,771 | 0.023% | £1.00 in total | 57,771 | £5.29 | 0.023% | Nil | Nil |
*Denotes an Executive Director of the Company
Following the transactions set out in this announcement, the Company confirms that at the date of this announcement, each of those directors and PDMRs referenced in this announcement hold the following interests in the Ordinary Shares of 5 pence of the Company:
Director/PDMR | Total shareholding following transactions (including holdings of connected persons) | Total shareholding following transactions | Total number of shares over which options held |
Stephen Stone* | 4,358,177 | 1.719% | 616,543 |
Patrick Bergin* | 1,079,057 | 0.426% | 348,246 |
Chris Tinker | 1,336,056 | 0.527% | 321,663 |
Steve Evans | 157,765 | 0.062% | 196,866 |
Robin Hoyles | 439,870 | 0.173% | 161,616 |
Kevin Maguire | 149,954 | 0.059% | 128,691 |
Tim Beale | 377,165 | 0.149% | 168,809 |
*Denotes an Executive Director of the Company
For further information please contact:
Kevin Maguire
Company Secretary +44 (0) 1932 580 555
18 March 2016