11 Mar 2019 16:42
11 March 2019
Inmarsat plc: Director share dealings
Share Vesting and 2018 Award confirmation
In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out at the end of this announcement.
Vesting of Shares under Bonus Share Awards (BSA)
Three tranches of ordinary shares of €0.0005 in Inmarsat plc under the Bonus Share Award have vested from awards made in March 2015, March 2016, and March 2017, for Mr Pearce and Mr Bates.
The BSA is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions become payable by the individual.
The two directors only sold sufficient shares to cover the cost of tax/NI and retained the balance. The price at which shares were sold on 8 March 2019 was £4.2948 per share. The table below shows the balancing shareholding.
Name | Number of shares vesting including reinvested dividends | Number of shares sold on 8 March 2019 to cover tax / NI | Number of shares retained | Total shareholding |
Rupert Pearce | 105,498 | 49,079 | 55,789 | 1,055,405 |
Tony Bates | 94,731 | 44,636 | 50,095 | 168,155 |
Alison Horrocks
Company Secretary
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Rupert Pearce | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Inmarsat plc | |||
b)
| LEI
| 213800QU7UAKT6KMRF41 | |||
4.1
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| BSA 2015, BSA 2016 and BSA 2017 share awards vesting including reinvested dividends
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 105,498 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 105,498 | ||||
- Price | Nil consideration | ||||
e)
| Date of the transaction
| 8 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.2
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| Sale of shares to cover tax / NI on vesting of BSA 2015, BSA 2016 and BSA 2017
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£4.2948 | 49,709 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 49,709 | ||||
- Price | £213,490.21 | ||||
e)
| Date of the transaction
| 8 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.3
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| BSA 2018 share award confirmation. Subject to continued employment, the award will vest in equal tranches in March 2020, March 2021 and March 2022. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 93,756 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 93,756 | ||||
- Price | Nil consideration | ||||
e)
| Date of the transaction
| 11 March 2019 | |||
f)
| Place of the transaction
| Outside of trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Tony Bates | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Inmarsat plc | |||
b)
| LEI
| 213800QU7UAKT6KMRF41 | |||
4.1
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| BSA 2015, BSA 2016 and BSA 2017 share awards vesting including reinvested dividends
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 94,731 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 94,731 | ||||
- Price | Nil consideration | ||||
e)
| Date of the transaction
| 8 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.2
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| Sale of shares to cover tax / NI on vesting of BSA 2015, BSA 2016 and BSA 2017
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£4.2948 | 44,636 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 44,636 | ||||
- Price | £191,702.69 | ||||
e)
| Date of the transaction
| 8 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.3
| 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 | Ordinary shares of Euro 0.0005 each
| |||
Identification code | ISIN: GB00B09LSH68 | ||||
b)
| Nature of the transaction
| BSA 2018 share award confirmation. Subject to continued employment, the award will vest in equal tranches in March 2020, March 2021 and March 2022. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 71,608 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 71,608 | ||||
- Price | Nil consideration | ||||
e)
| Date of the transaction
| 11 March 2019 | |||
f)
| Place of the transaction
| Outside of trading venue | |||