Just Group Regulatory News (JUST)

17 May 2019

Just Group plc

(the "Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The following notification is made in accordance with Article 19.3 of the Market Abuse Regulation. The Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in Ordinary Shares of 10p each in the Company ("Shares") on 16 May 2019.

Just Retirement Group plc Long Term Incentive Plan ("LTIP")

The level of the 2019 LTIP award to David Richardson has been determined by the Remuneration Committee in accordance with the Company's approved Remuneration Policy, taking account of his current role as Interim Group Chief Executive Officer and the share price performance of the Group over the last twelve months. Accordingly, he has been granted an award over shares worth 200% of his salary as Interim CEO with the number of shares granted calculated using a share price of 136.20p, being the share price used to determine the number of shares granted in 2018 rather than the current share price of c.65p. This results in a reduction of approximately 50% in the number shares being granted, reflecting the fall in the share price since the last grant of awards. The award under the LTIP was made over Shares, as set out in the table below. 

The awards to other grantees were made in the form of nil-cost options at a price of 65.01p per share, calculated as the average price over the 5 days preceding the grant date, which become exercisable on the third anniversary of the grant date. Options are then exercisable until the 10th anniversary of the grant date, unless the exercise period is shortened in accordance with the LTIP rules.

Details of the performance targets applicable to the 2019 award will be included in the Directors' Remuneration Report contained in the Company's Annual Report and Accounts 2019 to be published in 2020.

David Whitehead

Interim Group Company Secretary

17 May 2019