19 Jun 2017 16:18
DAILY MAIL & GENERAL TRUST PLC - Director/PDMR ShareholdingDAILY MAIL & GENERAL TRUST PLC - Director/PDMR Shareholding
PR Newswire
London, June 19
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
The Company has today confirmed long term awards under the DMGT Long Term Executive Incentive Plan 2017 as outlined in our Remuneration Policy and in the Company’s 2016 Annual Report. The award is intended to:
Provide a direct link between pay and performance of the business – with the opportunity for exceptional levels of reward linked to truly exceptional business performance. Reward the delivery of sustainable long term growth and capital efficiency.To achieve this the plan has been designed to give participants a share of profit growth before tax above a minimum growth threshold - ensuring that the award is appropriately challenging and the Executive is not rewarded unless a minimum performance threshold is reached.
To ensure that Shareholders’ capital is used efficiently, a capital charge (or credit) will apply for any additional capital used (or released) relative to the starting level.
The outcome will be delivered in A Ordinary Non-Voting shares upon vesting at the end of FY 2019, calculated by reference to a share price of £7.88 (the average share price for the first 3 days following the release of FY 2016 results).
The outcome for each participant is subject to a maximum. Awards would only vest at the maximum level were a highly exceptional level of performance to be met, resulting in significant value creation for shareholders.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Lord Rothermere | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chairman | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Daily Mail and General Trust plc | ||||
| b) | LEI | 4OFD47D73QFJ1T1MOF29 | ||||
| 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 instrumentIdentification code | A Ordinary Non-Voting Shares of 12.5 pence eachGB0009457366 | ||||
| b) | Nature of the transaction | Grant of award under the Daily Mail and General Trust Long Term Executive Incentive Plan 2017. The Award is structured as a cash award, subject to continued service and performance conditions, the value of which will be delivered in ordinary non-voting shares upon vesting calculated by reference to the share price as at the start of the performance period.Outcomes are linked to stretching targets for cumulative growth in profits over a minimum growth threshold, subject to adjustment for any change in capital usage. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
| Not applicable, single transaction. | ||||
| e) | Date of the transaction | 19 June 2017 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Paul Zwillenberg | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | 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 | Daily Mail and General Trust plc | ||||
| b) | LEI | 4OFD47D73QFJ1T1MOF29 | ||||
| 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 instrumentIdentification code | A Ordinary Non-Voting Shares of 12.5 pence eachGB0009457366 | ||||
| b) | Nature of the transaction | Grant of award under the Daily Mail and General Trust Long Term Executive Incentive Plan 2017. The Award is structured as a cash award, subject to continued service and performance conditions, the value of which will be delivered in ordinary non-voting shares upon vesting calculated by reference to the share price as at the start of the performance period.Outcomes are linked to stretching targets for cumulative growth in profits over a minimum growth threshold, subject to adjustment for any change in capital usage. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
| Not applicable, single transaction. | ||||
| e) | Date of the transaction | 19 June 2017 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Timothy Collier | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Finance Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Daily Mail and General Trust plc | ||||
| b) | LEI | 4OFD47D73QFJ1T1MOF29 | ||||
| 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 instrumentIdentification code | A Ordinary Non-Voting Shares of 12.5 pence eachGB0009457366 | ||||
| b) | Nature of the transaction | Grant of award under the Daily Mail and General Trust Long Term Executive Incentive Plan 2017. The Award is structured as a cash award, subject to continued service and performance conditions, the value of which will be delivered in ordinary non-voting shares upon vesting calculated by reference to the share price at the date employment commenced.Outcomes are linked to stretching targets for cumulative growth in profits over a minimum growth threshold, subject to adjustment for any change in capital usage. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
| Not applicable, single transaction. | ||||
| e) | Date of the transaction | 19 June 2017 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Kevin J Beatty | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Daily Mail and General Trust plc | ||||
| b) | LEI | 4OFD47D73QFJ1T1MOF29 | ||||
| 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 instrumentIdentification code | A Ordinary Non-Voting Shares of 12.5 pence eachGB0009457366 | ||||
| b) | Nature of the transaction | Grant of award under the Daily Mail and General Trust Long Term Executive Incentive Plan 2017. The Award is structured as a cash award, subject to continued service and performance conditions, the value of which will be delivered in ordinary non-voting shares upon vesting calculated by reference to the share price as at the start of the performance period.Outcomes are linked to stretching targets for cumulative growth in profits over a minimum growth threshold, subject to adjustment for any change in capital usage. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
| Not applicable, single transaction. | ||||
| e) | Date of the transaction | 19 June 2017 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Claire Chapman | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | General Counsel & Company Secretary | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Daily Mail and General Trust plc | ||||
| b) | LEI | 4OFD47D73QFJ1T1MOF29 | ||||
| 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 instrumentIdentification code | A Ordinary Non-Voting Shares of 12.5 pence eachGB0009457366 | ||||
| b) | Nature of the transaction | Grant of award under the Daily Mail and General Trust Long Term Executive Incentive Plan 2017. The Award is structured as a cash award, subject to continued service and performance conditions, the value of which will be delivered in ordinary non-voting shares upon vesting calculated by reference to the share price as at the start of the performance period.Outcomes are linked to stretching targets for cumulative growth in profits over a minimum growth threshold, subject to adjustment for any change in capital usage. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
| Not applicable, single transaction. | ||||
| e) | Date of the transaction | 19 June 2017 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
Name of officer responsible for making notification:
Fran Sallas, Deputy Company Secretary DMGT, 0203 615 2904