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Last checked at 
10 May 2024 13:24
LSL Property Services plc (LSL)
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility (PDMRs) or Connected Persons.
In accordance with DTR 3, LSL was notified on 8th May 2024 that David Stewart (Group Chief Executive Officer) and Adam Castleton (Group Chief Financial Officer) each acquired 0.2p ordinary shares in LSL on 8th May 2024, following the exercise of options received in 2021 pursuant to LSL's Long Term Incentive Plan (LTIP). The details of the exercises are set out in the table below.
2021 LTIP:
The 2021 LTIP grants were by way of nil-cost options in respect of ordinary shares of 0.2p and were subject to performance conditions. These options became exercisable on 7th May 2024.
David and Adam have exercised their 2021 LTIP options and as part of this they have elected to sell a proportion of the vested shares to account for tax and NI arising on the vesting of the LTIP awards, whilst retaining the rest of the shares. The actual number of shares sold on behalf of David and Adam is set out in the table below. The shares acquired by David and Adam under the 2021 LTIP are subject to a two-year post-vesting holding period in accordance with LSL's remuneration policy.
Following these exercises, David and Adam's total shareholding in LSL is set out in the table below.
Details of Director or PDMR | Number of shares acquired | Number of shares sold1 | Total number of shares following transaction(s) (including shares held in LSL's SIP) as at 8th May 2024 |
David Stewart, Group Chief Executive Officer | LTIP 2021: 31,238
| 14,727 | 95,180 |
Adam Castleton, Group Chief Financial Officer | LTIP 2021: 21,077
| 9,936 | 141,591 |
1 Shares sold to account for tax and NI.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | David Stewart | ||||
2 | Reason for notification | |||||
a) | Position/Status | Group Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | |||||
a) | Name | LSL Property Services plc | ||||
b) | LEI | 213800T4VM5VR3C7S706 | ||||
4 | 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
b) | Nature of transaction | Shares acquired by exercising nil-cost options received pursuant to LSL Property Services plc's 2021 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 8th May 2024 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
4 | 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
b) | Nature of transaction | Immediate sale of ordinary shares to cover tax and national insurance liabilities following exercise of nil-cost options under the 2021 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
e) | Date of the transaction | 8th May 2024 | ||||
f) | Place of the transaction | London Stock Exchange |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | Adam Castleton | ||||
2 | Reason for notification | |||||
a) | Position/Status | Group Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | |||||
a) | Name | LSL Property Services plc | ||||
b) | LEI | 213800T4VM5VR3C7S706 | ||||
4 | 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
b) | Nature of transaction | Shares acquired by exercising nil-cost options received pursuant to LSL Property Services plc's 2021 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 8th May 2024 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
4 | 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
b) | Nature of transaction | Immediate sale of ordinary shares to cover tax and national insurance liabilities following exercise of nil-cost options under the 2021 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
e) | Date of the transaction | 8th May 2024 | ||||
f) | Place of the transaction | London Stock Exchange |
For further information, please contact:
Sapna B FitzGerald, Company Secretary
investorrelations@lslps.co.uk
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