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Director/PDMR Shareholding

10 Dec 2020 07:00

RNS Number : 1461I
DWF Group PLC
10 December 2020
 

DWF Group plc

("DWF" or "the Company")

LEI: 213800O9QREOHTOGQ266

10 December 2020

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs')

On 23 September 2020, the Company granted conditional awards under the DWF Group plc Equity Incentive Plan (the EIP) over Ordinary Shares of 1p each in the Company (Shares) to its PDMRs as set out in the announcement dated 24 September 2020.

The Company's Remuneration Committee determined that, given the impact on the global economy of COVID-19, target setting be deferred for up to six months from the date of grant and that the Company would seek to disclose the proposed targets for the awards no later than 23 March 2021.

The Remuneration Committee has now determined the performance targets for the conditional awards, and they are:

Performance condition and percentage of award opportunity

Threshold

Target

Maximum

Cumulative three-year EPS (40% weighting)

33.8

37.6

41.3

Average annual ROCE (40% weighting)

26%

29%

32%

Average cash conversion (20% weighting)

82%

91%

101%

 

The Company has considered carefully the level of target performance and the corresponding performance range for each measure to ensure that they are sufficiently stretching and promote long-term sustainable success.

In accordance with the EIP rules, the Remuneration Committee has full discretion to ensure that the final outturn of the awards reflects all relevant factors, including consideration of any potential for windfall gains.

In accordance with the EIP rules, the vested Shares will be subject to a two-year holding period before the Shares are released. No consideration was paid for the grant of the award and no price is payable on the exercise of the award.

The notifications set out above are provided in accordance with the requirements of the EU Market Abuse Regulation.

 

For further information:

DWF Group plc

James Igoe +44(0)20 7280 8929

Head of Communications & IR

Finsbury (public relations adviser to DWF)

Ed Simpkins, Richard Crowley +44(0)20 7251 3801

 

About the Company

DWF is a global legal business providing Advisory, Managed and Connected Services, operating from 31 key locations with over 4,000 people. The Company became the first Main Market Premium Listed legal business on the London Stock Exchange in March 2019. DWF recorded revenue of £297.2 million in the year ended 30 April 2020. For more information visit: dwfgroup.com

Forward looking statements

This announcement contains certain forward-looking statements with respect to the Company's current targets, expectations and projections about future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which sometimes use words such as "aim", "anticipate", "believe", "intend", "plan" "estimate", "expect" and words of similar meaning, include all matters that are not historical facts and reflect the directors' beliefs and expectations and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
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