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14 Dec 2018 12:23
14 December 2018
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 13 December 2018, 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 as measured over a three-year performance period.
The performance conditions and targets for this LTIP grant are:
• FY21 ROCE - Threshold: 14%, Target: 17%, Maximum: 20%;
• FY21 EPS - Threshold: 11.9p, Target: 14.2p, Maximum: 16.6p.
The normal date of vesting for these nil-cost options will be 13 December 2021 and the last date for exercise will be 13 December 2028, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Gary Day | ||||
2 | Reason for the notification | |||||
a) | Position/status | Land & Planning Director | ||||
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
|
154,238 £0.00 | ||||
e) | Date of the transaction | 2018-12-13 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Patrick Hole | ||||
2 | Reason for the notification | |||||
a) | Position/status | Group General Counsel and Company Secretary | ||||
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
|
93,209 £0.00 | ||||
e) | Date of the transaction | 2018-12-13 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Long Term Incentive Plan (LTIP) - Lapse of 2015 Awards
The Company further confirms that none of the performance conditions associated with awards made under the LTIP on 25 November 2015 reached threshold performance conditions for vesting and hence all awards under the 2015 LTIP lapsed on their third anniversary on 25 November 2018.
Details of the number of awards that have lapsed for the following PDMRS are set out below.
Name | Position | Number of 2015 LTIP awards lapsed | |
Gary Day | Land and Planning Director | 69,444 | |
Patrick Hole | Group General Counsel and Company Secretary | 36,111
|
For further information, please contact:
Patrick Hole
Group General Counsel and Company Secretary
Telephone : 01202 508040
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