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Last checked at 
20 Jun 2022 17:17
LSL Property Services plc (LSL)
Notification of Transactions by Directors, Persons Discharging Managerial Responsibility (PDMRs) or Connected Persons.
In accordance with DTR 3, LSL was notified that Helen Buck (Executive Director - Estate Agency) and Jon Round (PDMR) each undertook transactions in 0.2p ordinary shares in LSL on 15 and 16 June 2022, following the exercise of options received in 2019 pursuant to LSL's Save As You Earn option scheme (SAYE) and Long Term Incentive Plan (LTIP). The details of the exercises and transactions are set out below.
2019 SAYE:
The 2019 SAYE is an all-employee scheme approved by HM Revenue and Customs. The 2019 SAYE exercise price for the options granted was £2.65 per ordinary share of 0.2p and the options became exercisable at the end of the three-year saving plan, on 1 June 2022.
2019 LTIP:
The 2019 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 29 March 2022.
Instructions have been given to sell a proportion of the vested shares in order to account for tax and NI arising on the vesting of the LTIP awards. The number of shares instructed to be sold on behalf of Helen and Jon is set out in the table below.
As an Executive Director, shares awarded to Helen under the LTIP (after any sale to cover tax and national insurance liabilities on exercise) are subject to a two-year post-vesting holding period in accordance with LSL's remuneration policy.
Following these transactions, Helen and Jon's respective total shareholding's in LSL are set out in the table below.
Details of Director or PDMR | Number of shares acquired | Number of shares sold (to account for tax and NI) | Total number of shares following transaction(s) (including shares held in LSL's SIP) |
Helen Buck, Executive Director - Estate Agency | SAYE 2019: 2,037
| - |
103,765 |
LTIP 2019: 138,685
| 67,117 | ||
Jon Round, PDMR (1)
| SAYE 2019: 2,037
| - |
144,533 |
LTIP 2019: 39,496
| 19,115 |
Note 1:
Due to a typographical error, Jon Round's total shareholding in LSL's announcement dated 17 June 2022 was incorrectly stated to be 112,115. The total shareholding should have been stated as 122,115. The total number of shares in the table above makes the necessary adjustment for that typographical error.
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 | Helen Buck | ||||
2 | Reason for notification | |||||
a) | Position/Status | Executive Director - Estate Agency | ||||
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 options received pursuant to LSL's Save As You Earn scheme. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 15 June 2022 | ||||
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 | Shares acquired by exercising options received pursuant to LSL Property Services plc Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 16 June 2022 | ||||
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 2019 LTIP | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
e) | Date of the transaction | 16 June 2022 | ||||
f) | Place of the transaction | Outside a trading venue |
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 | Jon Round | ||||
2 | Reason for notification | |||||
a) | Position/Status | PDMR | ||||
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 options received pursuant to LSL's Save As You Earn scheme. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 15 June 2022 | ||||
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 | Shares acquired by exercising options received pursuant to LSL Property Services plc Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 16 June 2022 | ||||
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 2019 LTIP | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
e) | Date of the transaction | 16 June 2022 | ||||
f) | Place of the transaction | Outside a trading venue |
For further information, please contact:
Sapna B FitzGerald, Company Secretary
investorrelations@lslps.co.uk
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