27 Mar 2019 07:00
27 March 2019
GVC Holdings PLC
("GVC" or "Company")
Notification of Transactions by Persons Discharging Managerial Responsibility or Persons Closely Associated
Awards granted under the GVC Holdings PLC 2017 Long Term Incentive Plan ("LTIP") and the Annual and Deferred Bonus Plan ("ADBP")
The following awards over GVC ordinary shares of €0.01 each ("Shares") were granted to Executive Directors of the Company on 26 March 2019 as set out below:
Name | Plan | Number of Shares subject to the Award |
Kenneth Alexander CEO | LTIP - 2019 grant | 344,332
|
Kenneth Alexander CEO | ADBP - 2018 Deferred Bonus | 109,293 |
Rob Wood CFO | LTIP - 2019 grant | 197,044
|
The allocation for the CEO LTIP grant was calculated by the GVC Remuneration Committee using its discretion and adopting the share price at the close on 5 March 2019 of £6.97 and therefore represents a 27% allocation discount.
The LTIP awards will normally vest on 26 March 2022, being the third anniversary of the award date subject to a. continuous employment and b. the satisfaction of the relative Total Shareholder Return (50%) and the cumulative Earning Per Share (50%) performance conditions, details of which will be disclosed in the 2018 Directors' Remuneration Report.
In the Company's remuneration policy, 50% of the CEO's annual bonus is deferred in Shares. The above deferred bonus award has been granted in respect of the CEO's annual bonus for the 2018 financial year. This award will normally vest on 26 March 2022, being the third anniversary of the award date, subject to continuous employment.
The Company's remuneration policy is focused on incentivising Executive Directors to execute the strategy and create value for shareholders and consequently the remuneration arrangements are heavily weighted towards incentivisation through share awards. Together with existing share incentive awards and those announced today, Kenneth Alexander now has the following Share interests in GVC:
Holding / Interest | Number of Shares |
Shareholding | 666,666 |
Two deferred Share awards under the two GVC Annual and Deferred Bonus Plan | 209,869 |
Three awards under the GVC Long-term Incentive Plan | 812,257 |
Total number of Shares | 1,688,792 |
Via the remuneration policy it is anticipated that this Share interest will build significantly over time dependent on the performance of GVC's business.
Kenneth Alexander (CEO) said:
"I remain totally committed to GVC for the long-term, and as such I will not sell any further shares in GVC while I am CEO. We have had an excellent start to the year and I look forward to updating on progress in our Q1 trading update on 5th April 2019 and at the Capital Markets Day on 16th May 2019."
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
For further information:
GVC Holdings PLC |
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Kenneth Alexander, Chief Executive |
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Rob Wood, Chief Financial Officer |
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Paul Tymms, Director of Investor Relations and Corporate Communications | (investors@gvc-plc.com) |
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Media enquiries: |
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Buchanan Communications |
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David Rydell / Chris Lane | Tel: +44 (0) 20 7466 5000 |
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Kenneth Alexander | ||||
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 | GVC Holdings PLC | ||||
b) | LEI | 213800GNI3K45LQR8L28 | ||||
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 GVC Holdings PLC of €0.01 each IM00B5VQMV65 | ||||
b) | Nature of the transaction | Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
344,332 ordinary shares of €0.01 each Nil consideration | ||||
e) | Date of the transaction | 26 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Kenneth Alexander | ||||
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 | GVC Holdings PLC | ||||
b) | LEI | 213800GNI3K45LQR8L28 | ||||
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 GVC Holdings PLC of €0.01 each IM00B5VQMV65 | ||||
b) | Nature of the transaction | Grant of Conditional shares under the GVC Holdings PLC Annual and Deferred Bonus Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
109,293 ordinary shares of €0.01 each Nil consideration | ||||
e) | Date of the transaction | 26 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Wood | ||||
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 | GVC Holdings PLC | ||||
b) | LEI | 213800GNI3K45LQR8L28 | ||||
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 GVC Holdings PLC of €0.01 each IM00B5VQMV65 | ||||
b) | Nature of the transaction | Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
197,044 ordinary shares of €0.01 each Nil consideration | ||||
e) | Date of the transaction | 26 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||