9 Nov 2020 16:30
Provident Financial plc ("the Company")
Director/PDMR Transaction - Initial Notification
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The Company announces that it has granted on 9 November 2020 nil cost options over 251,825 and 112,033 ordinary shares of 20 8/11p ("Shares") for no consideration to Malcolm Le May and Neeraj Kapur respectively, and has also granted market value options over 12,448 Shares for no consideration to both Mr May and Mr Kapur, who are directors of the Company, under the Provident Financial Restricted Share Plan 2020 (the "Plan") (the "RSP Options").
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They were each also granted a share option under the Plan linked to the RSP Options (the "CSOP Options"). The RSP Options and CSOP Options work on the basis that the total number of Shares over which the RSP Options and CSOP Options may be exercised cannot exceed that number of Shares as on the grant date had a market value equal to the total number of Shares covered by the RSP Option and CSOP Options less the exercise price payable under the CSOP Options.
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The RSP Options and CSOP Options replace the awards granted under the Provident Financial Long Term Incentive Plan 2015 on 30 March 2020 to Malcolm Le May and 1 April 2020 to Neeraj Kapur (the "LTIS" Awards). The LTIS Awards lapsed in their entirety on 9 November 2020. Â
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||||
a)  | Name  | Malcolm Le May  | ||||||
2  | Reason for the notification  | |||||||
a)  | Position/status  | Chief Executive Officer | ||||||
b)  | Initial notification /Amendment  | Initial notification | ||||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||||
a)  | Name  | Provident Financial plc | ||||||
b) Â | LEI Â | 213800U93SZC44VXN635 | ||||||
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  Identification code   |  Ordinary Shares of 20 8/11p  GB00B1Z4ST84   | ||||||
b)  | Nature of the transaction   | Acquisition of a nil cost option and a linked share option under the Provident Financial Restricted Share Plan 2020.  | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
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d)  | Aggregated information  - Aggregated volume  - Price |   264,273 (251,825 shares under a nil cost option and 12,448 shares under a market value share option). £30,000 | ||||||
e) Â | Date of the transaction | 9 November 2020 | ||||||
f) Â | Place of the transaction | Outside a trading venue | ||||||
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||||
a)  | Name  | Neeraj Kapur  | ||||||
2  | Reason for the notification  | |||||||
a)  | Position/status  | Chief Finance Officer | ||||||
b)  | Initial notification /Amendment  | Initial notification | ||||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||||
a)  | Name  | Provident Financial plc | ||||||
b) Â | LEI Â | 213800U93SZC44VXN635 | ||||||
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  Identification code   |  Ordinary Shares of 20 8/11p  GB00B1Z4ST84   | ||||||
b)  | Nature of the transaction   | Acquisition of a nil cost option and a linked share option under the Provident Financial Restricted Share Plan 2020.  | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
| ||||||
d)  | Aggregated information  - Aggregated volume  - Price  |   124,841 (112,033 shares under a nil cost option and 12,448 shares under a market value share option). £30,000 | ||||||
e) Â | Date of the transaction | 9 November 2020 | ||||||
f) Â | Place of the transaction | Outside a trading venue | ||||||
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Name of authorised official of issuer responsible for making notification:
David Whincup, Deputy Company Secretary
Date of Notification:
9 November 2020