11 Mar 2019 16:42
11 March 2019
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Inmarsat plc: Director share dealings
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Share Vesting and 2018 Award confirmation
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In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out at the end of this announcement.
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Vesting of Shares under Bonus Share Awards (BSA)
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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.
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The BSA is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions become payable by the individual.
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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.
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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 |
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Alison Horrocks
Company Secretary
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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) Â | LEI Â | 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: GB00B09LSH68Â | ||||
b)  | Nature of the transaction  | BSA 2015, BSA 2016 and BSA 2017 share awards vesting including reinvested dividends   | |||
c) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 105,498 | ||||
d) Â | 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: GB00B09LSH68Â | ||||
b)  | Nature of the transaction  | Sale of shares to cover tax / NI on vesting of BSA 2015, BSA 2016 and BSA 2017  | |||
c) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£4.2948 | 49,709 | ||||
d) Â | 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: GB00B09LSH68Â | ||||
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) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 93,756 | ||||
d) Â | 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 |
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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) Â | LEI Â | 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: GB00B09LSH68Â | ||||
b)  | Nature of the transaction  | BSA 2015, BSA 2016 and BSA 2017 share awards vesting including reinvested dividends   | |||
c) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 94,731 | ||||
d) Â | 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: GB00B09LSH68Â | ||||
b)  | Nature of the transaction  | Sale of shares to cover tax / NI on vesting of BSA 2015, BSA 2016 and BSA 2017  | |||
c) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£4.2948 | 44,636 | ||||
d) Â | 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: GB00B09LSH68Â | ||||
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) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil consideration | 71,608 | ||||
d) Â | 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 |
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