Sign In
21 Jun 2023 07:00
Lookers plc
("Lookers" or the "Company")
Director / PDMR Dealing Update
Further to yesterday's announcement of a recommended all-cash offer by Global Auto Holdings Limited for the entire issued and to be issued share capital of Lookers (the "Announcement"), Lookers provides an update on certain dealings by Lookers directors which either have or are expected to take place during the offer period, as a result of pre-existing arrangements.
As set out in the 2022 Annual Report and in accordance with the terms of the executive bonus scheme, Mark Raban, Duncan McPhee and Oliver Laird, were allocated 35% of their 2022 annual bonus in shares to be held by the Company's employee benefit trust (the "EBT"). As a result of being in a close period prior to the Announcement, the Company was not able to transfer funds to the EBT to acquire shares to satisfy these awards. Following the Announcement, funds have been transferred to the EBT to enable it to make the necessary market purchases.
Director | Position | Bonus amount (net of tax) / participant funds |
Mark Raban | Chief Executive Officer | £111,139.09 |
Duncan McPhee | Chief Operating Officer | £69,153.21 |
Oliver Laird | Chief Financial Officer | £69,153.21 |
In addition, Duncan McPhee had outstanding SAYE options of 6,794 that have now been exercised in accordance with their terms. This was also delayed as a result of the Company being in a close period prior to the Announcement.
Furthermore, Mark Raban and Duncan McPhee each participate in the Company's dividend reinvestment plan. As a result of the dividend payment on 16 June, the EBT has purchased 3,330 and 1,968 shares respectively on their behalf which settled yesterday.
Enquiries:
Katie Lewis
Deputy Company Secretary
0161 291 0043
The Company is registered in England at Lookers House, 3 Etchells Road, West Timperley, Altrincham WA14 5XS. Company registration number 00111876. LEI number 213800TSB8PJEACDAV33
Follow the stocks
