19 Jun 2020 07:00
EUROMONEY INSTITUTIONAL INVESTOR PLC
GRANT OF SHARE OPTIONS
19 June 2020
Euromoney Institutional Investor PLC (the "Company") announces that on 16 June 2020 share awards (the "Awards") in the form of conditional share awards or nil-cost options over Ordinary shares in the Company ("Shares") were made to the following persons discharging managerial responsibilities ("PDMRs") in the Company, under the 2015 Performance Share Plan ("2015 PSP") as follows:
Name | Position | Maximum number of Shares under Award ("Award Shares") |
A Rashbass | CEO | 156,480 |
W Pallot | CFO | 66,987 |
The number of Award Shares set out above is the maximum number which may vest under the Awards. The actual number of Award Shares which vest will depend on the extent to which a performance measure relating to relative Total Shareholder Return has been satisfied over a three-year period from 1 October 2019 and ending on 30 September 2022. The specific performance targets are set out below:
Performance Measure | Weighting | Performance Target | Vesting level |
Relative TSR vs FTSE 250 | 100% | Upper Quartile | 100% |
Median | 25% |
A two-year holding period will apply in addition to the performance period with vesting occurring on 16 June 2025.
The share price used to determine the number of shares awarded was the average of the middle market quotations of an Ordinary Share as derived from the Daily Official List for the five dealing days preceding the date of grant.
The Remuneration Committee has carefully considered the quantum of these awards in light of current market conditions. While the share price is lower than at the time of the grant of previous PSP awards, this is primarily due to external market factors rather than factors specific to the Company. The Committee will closely monitor the performance measure and will exercise its discretion as appropriate to ensure that the final outcomes are warranted based on Company performance in order to avoid windfall gains.
The information set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | Andrew Rashbass | ||||
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 | Euromoney Institutional Investor PLC | ||||
b) | LEI | 213800PZU2RGHMHE2S67 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.25 pence each | ||||
Identification code | GB0006886666 | |||||
b) | Nature of the transaction | Grant of options over 156,480 shares | ||||
c) | Price(s), volume(s) |
| ||||
d) | Aggregated information - Aggregated volume |
156,480 shares | ||||
- Price | Nil | |||||
e) | Date of the transaction | 16 June 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | Wendy Pallot | ||||
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 | Euromoney Institutional Investor PLC | ||||
b) | LEI | 213800PZU2RGHMHE2S67 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.25 pence each | ||||
Identification code | GB0006886666 | |||||
b) | Nature of the transaction | Grant of options over 66,987 shares | ||||
c) | Price(s), volume(s) |
| ||||
d) | Aggregated information - Aggregated volume | 66,987 | ||||
- Price | Nil | |||||
e) | Date of the transaction | 16 June 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Ends
Any queries in relation to this announcement should be made to:
· Tim Bratton, General Counsel & Company Secretary: +44 20 7779 8288; tim.bratton@euromoneyplc.com
About Euromoney Institutional Investor PLC
Euromoney is a global information business providing essential B2B information to global and specialist markets. Euromoney provides price discovery, market intelligence and events across our segments. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index.
www.euromoneyplc.com
LEI number: 213800PZU2RGHMHE2S67