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21 Jun 2024 10:09
MOBICO GROUP PLC
("Company")
Director/PDMR Share Dealing
The Company provides notification of the following transaction, effected on 20 June 2024, relating to the below named Person Discharging Managerial Responsibilities ("PDMRs") and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).
The transaction arises in respect of the grant under the rules of the Company's Long-Term Incentive Plan ("LTIP") to Ignacio Garat of three-year performance-conditioned nil-cost options over Shares (the "2024 LTIP Award") in accordance with the Directors Remuneration Policy.
At the time of grant, the Company's share price (according to the middle market quotation of the Company's share price on the last dealing day prior to the date of grant of the awards) was 47.16p. Accordingly, the Remuneration Committee has determined to scale back awards such that a reduction of 30% has been applied to the 2024 LTIP Award. The numbers shown below in relation to the 2024 LTIP Award are post that reduction.
The Remuneration Committee retains discretion to adjust the outcome of the vesting of the 2024 LTIP Award having regard to all relevant circumstances, including the Company's performance and the Company's shareholders' experience, over the three-year performance period and further to adjust the vesting of the Award downwards if that vesting would otherwise result in a windfall gain.
Individual PDMR and transaction details are set out in the table below:
Name and position of PDMR | Number of Shares over which the 2024 LTIP Award was granted1 | Unrestricted beneficial interest held in Shares following the transactions2
| Total other interest held in Shares following the transactions3 |
Ignacio Garat, Group Chief Executive Officer
|
1,781,170
|
274,659 |
2,974,4334 |
¹ The conversion of the 2024 LTIP Award value into the number of Shares over which it was granted is described above. The 2024 LTIP Award is shown over the maximum number of Shares which can vest.
² Including those held by connected persons.
³ Represents outstanding awards granted under the Company's Executive Deferred Bonus Plan and the Company's Long-Term Incentive Plan.
4 Mr Garat was also granted an approved CSOP award alongside his 2024 LTIP Award in line with HMRC permitted limits, which can be exercised by way of effective set-off against any shares vesting under the corresponding 2024 LTIP Award. Due to this effective set-off arrangement, his interests in Shares under such approved CSOP award is not included in the table above as this would result in a double-count.
1. | Details of PDMR / PCA | ||||||||||
Full Name | Ignacio Garat | ||||||||||
Position / status | Group Chief Executive Officer, PDMR | ||||||||||
Initial notification / amendment | Initial notification | ||||||||||
2. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| Name | Mobico Group PLC | |||||||||
LEI | 213800A8IQEMY8PA5X34 | ||||||||||
3. | 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 | ||||||||||
Description of the financial instrument
| Ordinary shares of 5p each
| ||||||||||
Identification code | GB0006215205
| ||||||||||
Nature of the transaction | (i)Award of option over shares under the Mobico Group PLC's Long-Term Incentive Plan | ||||||||||
Price(s) and volume(s) |
| ||||||||||
Date of the transaction | 20 June 2024 | ||||||||||
Place of the transaction | n/a | ||||||||||
This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014 as incorporated into domestic law by the European Union (Withdrawal) Act 2018.
- END -
Mobico contact and telephone number for enquiries:
Simon Callander, Group General Counsel & Company Secretary
+44 (0) 7795 232 708
Gillian Saunderson, Deputy Company Secretary
+44 (0) 7471 142 961
Notes:
Legal Entity Identifier: 213800A8IQEMY8PA5X34
Classification: 3.1 (with reference to DTR6 Annex 1R)
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