2 Oct 2017 10:55
2 October 2017
MARSHALL MOTOR HOLDINGS PLC
("MMH" or the "Company")
Grant of awards under Marshall Motor Holdings plc Performance Share Plan
Marshall Motor Holdings plc, one of the UK's leading automotive retail and leasing groups, announces that on 29 September 2017 the following directors and persons discharging managerial responsibilities ("PDMR") were granted nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan ("PSP") to acquire ordinary shares of 64p each in the Company ("Ordinary Shares") as follows:
Director/PDMR | Number of Ordinary Shares under option | Exercise price |
Daksh Gupta | 305,389 | £Nil |
Mark Raban | 152,695 | £Nil |
Stephen Jones | 33,683 | £Nil |
Jamie Crowther | 44,910 | £Nil |
Jon Head | 33,683 | £Nil |
Helen Burrows | 33,683 | £Nil |
The normal vesting date of the options will be 29 September 2020, being the third anniversary of the award date. The exercise period of each option will run from the date on which each option vests to the day before the tenth anniversary of the award date.
These options are subject to the rules of the PSP and will vest dependent upon continued employment and on performance against earnings per share ("EPS") targets, as measured over a two year performance period.
Details of the full notifications received by the Company are set out below:
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Daksh Gupta
| ||||
b)
| Position/status | Chief Executive Officer | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mark Raban
| ||||
b)
| Position/status | Chief Financial Officer | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Stephen Jones
| ||||
b)
| Position/status | Company Secretary, PDMR | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Jamie Crowther
| ||||
b)
| Position/status | Operations Director, PDMR | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Jon Head
| ||||
b)
| Position/status | Commercial Director, PDMR | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Helen Burrows
| ||||
b)
| Position/status | HR Director | ||||
c)
| Initial notification /Amendment | Initial Notification | ||||
2
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Marshall Motor Holdings plc | ||||
b) | LEI | N/A
| ||||
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
| |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 64p each
ISIN Code: GB00BVYB2Q58 | ||||
b)
| Nature of the transaction
| Grant of nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 29 September 2017 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
ENDS
For further information and enquiries please contact:
Marshall Motor Holdings plc | c/o Hudson Sandler |
Daksh Gupta, Group Chief Executive | Tel: +44 (0) 20 7796 4133 |
Mark Raban, Chief Financial Officer | |
Investec Bank plc (Financial Adviser, NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Christopher Baird | |
David Flin | |
David Anderson | |
Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Nick Lyon Bertie Berger |
Notes to Editors
About Marshall Motor Holdings plc (www.mmhplc.com)
The Group's principal activities are the sale and repair of new and used vehicles through Marshall Motor Group and, until the completion of the disposal of Marshall Leasing announced on 21 September 2017, the leasing of vehicles through Marshall Leasing. The Group's businesses have a total of 104 franchises covering 24 brands, operating from 90 locations across 26 counties in England. In addition, the Group operates five trade parts specialists, five used car centres, five standalone body shops and one pre delivery inspection centre.
In May 2017 the Group was recognised by the Great Place to Work Institute, being ranked the 22nd best place to work in the UK (large company category). This was the seventh year in succession that the Group has achieved Great Place to Work status.
In November 2016 Marshall Leasing was named Fleet Service Company of the Year 2016 by the Association of Car Fleet Operators (ACFO), an award it also won in 2010 and 2013.
Cautionary statement
This announcement contains unaudited information based on management accounts and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statements because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. MMH undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.