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7 Feb 2020 08:32
7 February 2020
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 5 February 2020, 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:
• FY22 ROCE - Threshold: 14%, Maximum: 20%;
• FY22 EPS - Threshold: 12.p, Maximum: 17.5p.
The normal date of vesting for these nil-cost options will be 5 February 2023 and the last date for exercise will be 5 February 2030, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP. With the exception of Adam Batty's award, these awards are subject to a two year holding period.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | John Tonkiss | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
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
|
495,892 £0.00 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rowan Baker | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
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
|
339,353 £0.00 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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
|
391,499 £0.00 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
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 - Customers & Services | ||||
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
|
391,499 £0.00 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Adam Batty | ||||
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
|
156,165 £0.00 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Long Term Incentive Plan (LTIP) - Lapse of 2016 Awards
The Company further confirms that none of the performance conditions associated with awards made under the LTIP on 21 December 2016 and 27 January 2017 reached threshold performance conditions for vesting and hence all awards under the 2016 LTIP lapsed on their third anniversary on 21 December 2019 and 27 January 2020 respectively.
Details of the number of awards that have lapsed for the following Executive Directors are set out below.
Name | Position | Number of 2015 LTIP awards lapsed |
|
John Tonkiss | Chief Executive Officer | 292,208 |
|
Rowan Baker | Chief Financial Officer | 146,104 |
|
For further information, please contact:
Scott Brooker
Deputy Group Company Secretary
Telephone: 07976 670155
-- Ends --
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