15 Dec 2017 18:16
Ei Group plc (the 'Company')
Director/PDMR Shareholding
Grant of 2017 Deferred Share Awards
The Company confirms that on 14 December 2017 it granted to each of the executive directors a deferred share award (structured as an option) for the year ended 30 September 2017 under the Ei Group 2015 Annual Bonus Plan ('2015 Plan') over ordinary shares of 2.5 pence in the Company ('Shares') as set out below:
Name/Position | Shares placed under Deferred Share Award | Name/Position | Shares placed under Deferred Share Award | ||
W S Townsend Chief Executive Officer | 50,668 | N R Smith Chief Financial Officer | 41,326 | ||
These deferred share awards are in respect of the above individuals' total annual bonus award under the 2015 Plan for the financial year ended 30 September 2017 and are not subject to further performance criteria. In the normal course, 50% of any bonus awarded above target is deferred into shares. W S Townsend and N R Smith both deferred a greater amount and took 15% of their overall bonus in deferred share awards. The balance was paid in cash.
Under the rules of the 2015 Plan, the deferred share awards will be satisfied upon exercise by the transfer of Shares to the individuals from the Company's Employee Benefit Trust. For W S Townsend and N R Smith these deferred share awards will normally be exercisable from 14 December 2020 to 14 June 2021 for a total payment of £1 by each director.
Vesting and exercise of 2014 Deferred Share Awards
Also on 14 December 2017, pursuant to deferred share awards granted on 12 December 2014 under the Ei Group plc 2005 Annual Bonus Plan ('2005 Plan'), the executive directors acquired the following Shares for a total payment of £1 each:
Name/Position | Shares acquired on exercise of Deferred Share Award | Name/Position | Shares acquired on exercise of Deferred Share Award |
W S Townsend Chief Executive Officer | 114,028 | N R Smith Chief Financial Officer | 99,487 |
Vesting and exercise of Long Term Incentive Plan Awards
Following the assessment of the two performance conditions applying to the options, the first tranche of each option granted on 9 February 2015 under the Ei Group 2005 Long Term Incentive Plan was also exercised on 14 December 2017. The number of Shares acquired under the options, representing one-third of the total number of Shares which can be received under the options on the basis of achieved performance, was as follows.
Name/Position | Shares acquired on exercise of option under Long Term Incentive Plan | Name/Position | Shares acquired on exercise of option under Long Term Incentive Plan |
W S Townsend Chief Executive Officer | 14,424 | N R Smith Chief Financial Officer | 11,759 |
Sale of Shares
Also on 14 and 15 December 2017, the following directors sold Shares as follows:
Name/Position | Shares sold at 144.23p | Name/Position | Shares sold at 144.23p |
W S Townsend Chief Executive Officer | 60,979 Shares to cover tax and costs plus 32,473 Shares Total Shares sold: 93,452 | N R Smith Chief Financial Officer | 52,822 Shares to cover tax and costs plus 33,424 Shares Total Shares sold: 86,246 |
Total Shares held
The total number and percentage of Shares beneficially held by the following directors immediately following these transactions has increased and is now as follows:
Name/Position | Total holding and % of issued Shares (excluding treasury) | Name/Position | Total holding and % of issued Shares (excluding treasury) |
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W S Townsend Chief Executive Officer | 1,320,000 0.27%
| N R Smith Chief Financial Officer | 525,000 0.11%
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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 /persons 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 transactions | Grant of 2017 deferred share award over 50,668 shares, price - nil, part of 2017 annual bonus award.
Vesting and exercise of a deferred share award over 114,028 shares, part of 2014 annual bonus award - total exercise price £1.
Vesting and exercise of first tranche of long term incentive plan award granted in February 2015 over 14,424 shares
Sale of 93,452 shares (including to cover tax and costs) at 144.23p | |
c) | Price(s) and volume(s) of share sales | Price(s) | Volume(s) |
144.23p | 93,452 | ||
d) | Aggregated information of share sales Aggregated volume Price |
93,452 144.23p | |
e) | Date of the transactions | 14 & 15 December 2017 | |
f) | Place of the transaction of share sales | LSE BATs CHIX TURQ
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1 | Details of the person discharging managerial responsibility /persons closely associated with them. | ||
a) | Name | N R Smith | |
2 | Reason for the Notification | ||
a) | Position/status | CFO | |
| 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 transactions | Grant of 2017 deferred share award over 41,326 shares, price - nil, part of 2017 annual bonus award.
Vesting and exercise of a deferred share award over 99,487 shares, part of 2014 annual bonus award - total exercise price £1.
Vesting and exercise of first tranche of long term incentive plan award granted in February 2015 over 11,759 shares
Sale of 86,246 shares (including to cover tax and costs) at 144.23p
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c) | Price(s) and volume(s) of share sales | Price(s) | Volume(s) |
144.23p | 86,246 | ||
d) | Aggregated information of share sales Aggregated volume Price |
86,246 144.23p | |
e) | Date of the transactions | 14 & 15 December 2017 | |
f) | Place of the transaction of shares sales | LSE BATs CHIX TURQ
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Contact:
Loretta Togher, Company Secretary, Ei Group plc
0121 272 5308