11 Apr 2019 11:06
11 April 2019
McCarthy & Stone plc (the "Company")
Notification of Transactions by
Persons Discharging Managerial Responsibilities
Pursuant to the notification obligations under article 19.3 of the Market Abuse Regulation, the Company announces the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the ordinary shares of 8 pence nominal value in the Company ("Shares").
McCarthy & Stone plc Long Term Incentive Plan
On 11 April 2019, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as set out below.
The awards were made as nil-cost options and are subject to the rules of the LTIP and will vest depending on performance against Earnings per Share ("EPS") and Return on Capital Employed ("ROCE") targets.
The performance conditions and targets for this LTIP grant are:
• FY21 ROCE - Threshold: 14%, Target: 17%, Maximum: 20%;
• FY21 EPS - Threshold: 11.9.p, Target: 14.2p, Maximum: 16.6p.
The normal date of vesting for these nil-cost options will be 11 April 2022 and the last date for exercise will be 11 April 2029, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP. These awards will be subject to a two-year post-vesting holding period.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Nigel Turner | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Operating Officer - Build | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | McCarthy & Stone plc | ||||
b) | LEI | 213800CEJ4OQ5YPU8Z37 | ||||
4 | Details of the transaction | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 8 pence nominal value each
GB00BYNVD082 | ||||
b) | Nature of the transaction | Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
344,037 £0.00 | ||||
e) | Date of the transaction | 2019-04-11 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Mike Lloyd | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Operating Officer - Services and Customers | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | McCarthy & Stone plc | ||||
b) | LEI | 213800CEJ4OQ5YPU8Z37 | ||||
4 | Details of the transaction | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 8 pence nominal value each
GB00BYNVD082 | ||||
b) | Nature of the transaction | Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
344,037 £0.00 | ||||
e) | Date of the transaction | 2019-04-11 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
Patrick Hole
Group General Counsel and Company Secretary
Telephone : 01202 508040
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