18 Mar 2019 08:00
Ei Group plc (the "Company")
Director/PDMR Shareholding
Grant of Restricted Share Plan ("RSP") awards
The Company confirms that on 15 March 2019 it granted to each of its executive directors an award (structured as a nil-cost option) under the rules of the RSP. The awards, which have been granted in respect of the financial year beginning on 1 October 2018 are over the following numbers of shares in the Company ("Shares"):
Name/Position | Number of Shares |
W S Townsend - Chief Executive Officer | 219,320 |
N R Smith - Chief Financial Officer | 181,158 |
"Underpin conditions" apply to each award and the Remuneration Committee has discretion to reduce vesting if the underpin is not met, as described in the Directors' Remuneration Report for the year ended 30 September 2018. The Remuneration Committee has adjusted the Free Cash Flow underpin to take account of the completion of the disposal of the commercial property portfolio on 14 March 2019.
Originally anticipated FCF underpin | Adjusted FCF underpin |
That the adjusted FCF balance for the relevant financial year is greater than £121 million, the adjusted FCF balance for the financial year ended 30 September 2018. | That the adjusted FCF balance for the relevant financial year is greater than £113 million, the adjusted FCF balance for the financial year ended 30 September 2018 of £121 million as adjusted to reflect the completion of the disposal of the commercial property portfolio. |
Each award is divided into three tranches and will vest and be released (so that it may be exercised) as follows.
Tranche | Proportion of Award | Vesting date | Release date |
1 | One third | Following announcement of the results for the year ending 30 September 2021 | Following announcement of the results for the year ending 30 September 2023 |
2 | One third | Following announcement of the results for the year ending 30 September 2022 | |
3 | One third | Following announcement of the results for the year ending 30 September 2023 |
Awards will normally be exercisable from the date of release to the 10th anniversary of the grant date.
Total Shares held
The total number and percentage of Shares beneficially held by the executive directors is as follows:
Name/Position | Total holding and % of issued Shares | Name/Position | Total holding and % of issued Shares |
W S Townsend Chief Executive Officer | 1,375,000 0.30% | N R Smith Chief Financial Officer | 565,000 0.12% |
Public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Notification of Dealing Form
1 | Details of the person discharging managerial responsibility/person closely associated with them | ||
a) | Name | W S Townsend | |
2 | Reason for the notification | ||
a) | Position/status | CEO | |
b) | Initial Notification/Amendment | Initial Notification | |
3 | Details of the issuer | ||
a) | Name | Ei Group plc | |
4 | Details of the transactions | ||
a) | Description of the financial instruments, type of instrument Identification code | Ordinary Shares of 2.5 pence each
GB00B1L8B624 | |
b) | Nature of transaction | Grant of an award, structured as a nil cost option, under the Company's 2019 Restricted Share Plan | |
c) | Price (s) and volume (s) | Price (s)
| Volume (s)
|
0p | 219,320 | ||
d) | Aggregated information Aggregated volume Price |
N/A | |
e) | Date of transaction | 15 March 2019 | |
f) | Place of transaction | Outside a trading venue | |
Notification of Dealing Form
1 | Details of the person discharging managerial responsibility/person closely associated with them | ||
a) | Name | N R Smith | |
2 | Reason for the notification | ||
a) | Position/status | CFO | |
b) | Initial Notification/Amendment | Initial Notification | |
3 | Details of the issuer | ||
a) | Name | Ei Group plc | |
4 | Details of the transactions | ||
a) | Description of the financial instruments, type of instrument Identification code | Ordinary Shares of 2.5 pence each
GB00B1L8B624 | |
b) | Nature of transaction | Grant of an award, structured as a nil cost option, under the Company's 2019 Restricted Share Plan | |
c) | Price (s) and volume (s) | Price (s)
| Volume (s)
|
0p | 181,158 | ||
d) | Aggregated information Aggregated volume Price |
N/A | |
e) | Date of transaction | 15 March 2019 | |
f) | Place of transaction | Outside a trading venue | |
L A Togher
Company Secretary
0121 272 5223