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18 Oct 2017 07:00
DUNELM GROUP plc
(the "Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY AND CONNECTED PERSONS
18 October 2017
LTIP award granted to Keith Down
A conditional award under the Company's Long Term Incentive Plan (LTIP) has been granted on 18 October 2017 over ordinary shares of one pence each in Dunelm Group plc, in the form of a nil cost option, as follows:
Name | Position | Number of shares in award |
Keith Down | Chief Financial Officer | 60,000 |
The award is made in accordance with the 2015 Remuneration Policy approved by shareholders on 24 November 2015 (the "2015 Policy").
The option may be exercised on or after 18 October 2020, subject to the satisfaction of a performance condition over the three financial years commencing on 2 July 2017, as set out below:
Growth in fully diluted EPS | Percentage of LTIP award vesting |
Below RPI plus 3% per annum | 0% |
RPI plus 3% per annum | 10% |
Between RPI plus 3% and RPI plus 15% per annum | Pro-rata between 10% and 100% |
RPI plus 15% per annum | 100% |
On exercise, Mr Down has committed to retain two thirds of the shares vesting (after sale to cover his tax and national insurance liability on exercise), pursuant to the "Lifetime Lock-in" described in the 2015 Policy.
The award is subject to malus and claw back provisions in the case of mis-statement of performance to which a previous LTIP award relates, miscalculation of performance conditions in previous exercised options, or gross misconduct or fraud on the part of the individual.
Including the award set out above, Keith Down holds options over the Company's ordinary shares as follows:
Name | Share scheme | Number of shares | Exercise price per share | Exercise dates |
Keith Down | Long Term Incentive Plan | 180,000 | Nil | 60,000 between 7 December 2018 and 6 December 2025 60,000 between 19 October 2019 and 18 October 2026 60,000 between October 18 October 2020 and 17 October 2027. |
Keith Down | Sharesave Plan | 2,910 | 618.5p | 1 January to 30 June 2020 |
In addition to the above, Keith Down has a beneficial interest in ordinary shares of one pence in the Company as follows:
Director | Number of ordinary shares |
Keith Down | 40,098 |
Name of authorised Company official responsible for making this notification:
Dawn Durrant, Company Secretary
0116 26444439
DUNELM GROUP PLC
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Keith William Down | ||||
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
| Dunelm Group plc | ||||
b)
| LEI
| 213800WCOWEI3T5DUV19 | ||||
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
Identification code
| Ordinary shares of one pence each
ISINGB00BICQ739
| ||||
b)
| Nature of the transaction
| Grant of conditional nil cost options under the Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
60,000
Nil | ||||
e)
| Date of the transaction
| 2017.10.18 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
Name of officer of issuer responsible for making notification: Dawn Durrant Date of notification: 2017.10.18 |
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