Last checked at 18 Apr 2023 10:36
National World plc
18 April 2023
National World plc
("National World")
Completion of 2019 Value Creation Plan
and
Notification of transactions by PDMRs
National World announces that on 17 April 2023 awards in the form of nominal cost options over a total of 12,663,363 new ordinary shares vested pursuant to the terms of the 2019 Value Creation Plan (VCP) including awards to two executive directors as detailed below:
Name | Position | Awards vested/shares issued |
David Montgomery | Executive Chairman | 4,432,177 |
Mark Hollinshead | Chief Commercial Officer | 3,799,009 |
Within the total above, 4,432,177 awards to Vijay Vaghela, a director until September 2022 and deemed a good leaver, also vested.
The VCP was put in place on Admission in September 2019 to support the delivery of the Company's strategy, to retain the lead executives and reward them for driving its successful delivery. The overall effect of the VCP was that the participants together were able to earn Ordinary Shares equivalent in value to 10% of any equity value created above an 8% compound annual growth rate based on the measurement of absolute total shareholder return generated over the VCP performance period. The share testing period for the VCP ended on 14 April 2023. Further information on the VCP is set out in our 2022 annual report.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
UPDATE
1. | Details of PDMR / person closely associated | |||||
a) | Name | David Montgomery | ||||
2. | Reason for the notification | |||||
a) | Position / status | Executive Chairman | ||||
b) | Initial notification /amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | National World plc | ||||
b) | LEI | 213800NL4ICLKYSYU749 | ||||
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 | Ordinary Shares of 0.1p par value | ||||
b) | Identification code of the Financial Instrument | GB00BJN5J635 | ||||
c) | Nature of the transaction | Grant of options | ||||
d) | Price(s) and volume(s) |
| ||||
f) | Date of the transaction | 17 April 2023 | ||||
g) | Place of the transaction | XLON | ||||
1. | Details of PDMR / person closely associated | |||||
a) | Name | Mark Hollinshead | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Commercial Officer | ||||
b) | Initial notification /amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | National World plc | ||||
b) | LEI | 213800NL4ICLKYSYU749 | ||||
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 | Ordinary Shares of 0.1p par value | ||||
b) | Identification code of the Financial Instrument | GB00BJN5J635 | ||||
c) | Nature of the transaction | Grant of options | ||||
d) | Price(s) and volume(s) |
| ||||
f) | Date of the transaction | 17 April 2023 | ||||
g) | Place of the transaction | XLON | ||||
Enquiries:
National World plc
Douglas Easton
c/o Montfort Communications
Montfort Communications
Olly Scott
+44 (0)78 1234 5205