11 Sep 2018 16:37
For Immediate Release 11 September 2018
MILLENNIUM AND COPTHORNE HOTELS PLC ("THE COMPANY")
LEI: 2138003EQ104LZ1JNH19
NOTIFICATION OF TRANSACTION OF PERSON DISCHARGING MANAGERIAL RESPONSIBILITY("PDMR'S") AND PERSONS CLOSELY ASSOCIATED WITH THEM ("PCA'S")
Provided in accordance with Article 19.3 of the EU Market Abuse Regulation No. 596/2014
The Company announces the following dealing in the Ordinary Shares of 30p each ("Shares") undertaken by a person discharging managerial responsibility.
Conditional Share Awards ("Awards") granted on 8 September 2015 to selected employees of the Company under the Millennium & Copthorne Hotels plc Annual Bonus Plan vested on 8 September 2018, subject to the rules of the plan and continued employment. On 8 September 2018, the release of the Shares from the Award would have resulted in Chwee-Peng Ong receiving 4,639 Shares in the Company before the settlement of income tax and employee's national insurance contributions.
The Company's Remuneration Committee decided to exercise its discretion in respect of the Annual Bonus Plan Rules and took the decision to fully cash settle this award, resulting in Chwee-Peng Ong receiving the award in cash and not Shares in the Company.
The share price used to calculate the amount payable to Chwee-Peng Ong was £5.23, being the closing mid-market price of the Company's shares one day immediately preceding 8 September 2018. This announcement is made in accordance with the requirements of the EU Market Abuse Regulation Article 19.3.
1 | Details of person discharging managerial responsibilities / person closely associated | |||||||
a) | Details of PDMR/PCA | Chwee-Peng Ong | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Deputy Chief Financial Officer | ||||||
b) | Initial notification/
| Initial notification | ||||||
| Amendment |
| ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Full name of the entity | Millennium & Copthorne Hotels plc | ||||||
b) | Legal Entity | 2138003EQ104LZ1JNH19 | ||||||
| Identifier code |
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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
| Ordinary Shares of 30p each
| ||||||
b) | Identification code | GB0005622542 | ||||||
c) | Nature of the transaction | A proportion of the participant's bonus earned in 2014 was deferred into an Award of Shares under the Millennium & Copthorne Hotels plc Annual Bonus Plan ("ABP") on 8 September 2015. The Award vested on 8 September 2018 and the Company fully settled the award in cash. | ||||||
d) | Currency | Sterling | ||||||
e) | Price(s) and volume(s) |
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f) | Aggregated information
- Aggregated volume
- Price
- Total
- - Price
| See 4.e) above
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g) | Date of the transaction | 11 September 2018 | ||||||
h) | Place of the transaction | Outside of a trading venue | ||||||