Last checked at 27 Jun 2022 12:00
LEI: 549300XVXU6S7PLCL855
FOR IMMEDIATE RELEASE
27 June 2022
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Notification of transactions of directors/persons discharging managerial responsibilities (PDMRs)
The information contained in this notification is disclosed in accordance with the requirements of the EU Market Abuse Regulation.
Liontrust Asset Management Plc (the "Company") was informed on 24 June 2022 of the following transactions in nil-priced options over Company's ordinary shares of 1p ("Options" and "Shares") by PDMR's.
The Options will be subject to stretching performance targets based on total shareholder return and earnings per share. Subject to the achievement of these targets and the PDMRs remaining in employment with the Company, the Options will vest three years after the date of grant. A holding period of two years from the date of vesting will apply to the Options and any Shares acquired pursuant to them, subject to the participant being permitted to sell Shares to cover any tax liabilities arising on exercise of an Option.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of PDMR/person closely associated with them ("PCA") | |||||||||||||
(a) | Name | John Ions | ||||||||||||
(b) | Position / status | Chief Executive | ||||||||||||
(c) | Initial notification / amendment | Initial Notification | ||||||||||||
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 | Nil-priced options on Liontrust Asset Management Plc Ordinary Share of 1p (LEI: 549300XVXU6S7PLCL855)
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(b) | Nature of the transaction | Grant of nil-priced options under the Liontrust Long-Term Incentive Plan
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(c) | Price(s) andvolume(s) |
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(d) | Aggregated information Aggregated volume Price | N/A | ||||||||||||
(e) | Date of the transaction | 2022-06-23 (options granted)
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(f) | Place of the transaction | N/A | ||||||||||||
1 | Details of PDMR/person closely associated with them ("PCA") | |||||||||||||
(a) | Name | Vinay Abrol | ||||||||||||
(b) | Position / status | Chief Financial Officer & Chief Operating Officer | ||||||||||||
(c) | Initial notification / amendment | Initial Notification | ||||||||||||
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 | Nil-priced options on Liontrust Asset Management Plc Ordinary Share of 1p (LEI: 549300XVXU6S7PLCL855)
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(b) | Nature of the transaction | Grant of nil-priced options under the Liontrust Long-Term Incentive Plan
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(c) | Price(s) andvolume(s) |
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(d) | Aggregated information Aggregated volume Price | N/A | ||||||||||||
(e) | Date of the transaction | 2022-06-23 (options granted)
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(f) | Place of the transaction | N/A | ||||||||||||
Performance conditions on LTIPs granted
· Diluted adjusted EPS excluding performance fees (60%)
Starting EPS (Diluted Adjusted EPS excluding performance fees): 120.68p for the financial year ending 31 March 2022. End of the performance period is 31 March 2025.
Entry level performance: 8.5% CAGR
Target: 11% CAGR
Stretch performance: 16.75% CAGR
10% pay-out at entry level performance, 50% at target, 100% at stretch performance. Straight line interpolation applies between these points
· Relative TSR growth vs FTSE 250 (40%);
Entry level performance: Median performance
Stretch performance: Upper quintile performance
10% pay-out at entry level performance, rising on a straight-line basis to 100% at stretch performance.
For further information please contact:
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)
John Ions: Chief Executive
Vinay Abrol: Chief Financial Officer & Chief Operating Officer
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Corporate Finance: Justin McKeegan
Panmure Gordon (Tel: 020 7886 2500)
Corporate Broking: Charles Leigh-Pemberton
Corporate Finance: Dominic Morley
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