Last checked at 7 Mar 2017 17:13
Premier Asset Management Group PLC
7 March, 2017
Premier Asset Management Group PLC
("Premier" or the "Company")
Grant of retention awards to PDMRs and other employees
Premier Asset Management Group PLC (AIM: PAM) today announces that it has awarded grants, subject to certain retention arrangements, of nil-cost contingent share rights (the "Awards") over ordinary shares of 0.02p each in Premier ("Shares") to certain Persons Discharging Managerial Responsibilities ("PDMRs") and other employees on 7 March 2017.
Grant of Awards
As announced on 1 December 2016, it is the Company's intention to grant share awards to certain employees and directors of the Company out of an Employee Benefit Trust under an LTIP scheme. The Company continues to finalise details of this proposed scheme and will announce these in due course.
In the meantime, in order to ensure that appropriate retention arrangements are in place for its senior management team, the Company has elected to make certain awards out of a proportion of the existing shares contained within the Company's Employee Benefit Trust. The Employee Benefit Trust currently holds 1.6m ordinary shares in the Company, representing 1.5% of the issued share capital.
On 7 March, 2017, Premier therefore granted Awards over a total of 1,216,667 Shares from the Employee Benefit Trust, to certain PDMRs and other employees. Of this award, 700,000 Shares were awarded to seven individuals whom are regarded as PDMRs, details of which are set out below.
Vesting of the Awards is subject to continued employment and malus and clawback provisions. These Awards will vest on the third anniversary of the date of grant, although they may vest earlier if there is a change of control event or, in certain circumstances, if a participant becomes a good leaver.
The breakdown of the awards made to PDMRs is as follows:
Executive Director | Awards |
Michael O'Shea | 166,666 |
David Hambidge | 133,333 |
Neil Macpherson | 100,000 |
Neil Birrell | 100,000 |
Mark Friend | 66,667 |
Simon Wilson | 66,667 |
Michael Hammond | 66,667 |
Total | 700,000 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Enquiries:
Premier Asset Management Group PLC | Tel: 01483 306090 Mike O'Shea
|
Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker) | Tel: 0207 710 7600 Gareth Hunt Stewart Wallace
|
Numis Securities Limited (Joint Broker)
| Tel: 020 7260 1000 Andrew Holloway Charles Farquhar |
Smithfield Consultants (Financial PR)
| Tel: 020 7360 4900 John Kiely Andrew Wilde
|
Note to editors
About Premier
Premier is a fast‐growing UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi‐asset, equity and absolute return funds. Premier had £5.2 billion of assets under management as at 31 December 2016.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Michael O'Shea - Chief Executive Officer
|
2 | Reason for the notification | |
a) | Position/status | Chief Executive Officer - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volume: 166,666
|
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Neil Macpherson - Group Finance Director
|
2 | Reason for the notification | |
a) | Position/status | Group Finance Director - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volume: 100,000
|
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Mark Friend - Chief Operating Officer
|
2 | Reason for the notification | |
a) | Position/status | Chief Operating Officer - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volumes: 66,667 |
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Simon Wilson - Marketing Director
|
2 | Reason for the notification | |
a) | Position/status | Marketing Director - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volumes: 66,667 |
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Michael Hammond- Sales Director
|
2 | Reason for the notification | |
a) | Position/status | Sales Director - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volumes: 66,667 |
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | David Hambidge - Head of Multi-Asset Funds
|
2 | Reason for the notification | |
a) | Position/status | Head of Multi-Asset Funds - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volumes: 133,333
|
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |
(Disclosure in relation to award of ordinary shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Neil Birrell - Chief Investment Officer
|
2 | Reason for the notification | |
a) | Position/status | Chief Investment Officer - classified as PDMR of Premier Asset Management Group PLC |
b) | Initial notification /Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Premier Asset Management Group PLC |
b) | LEI | 213800LK2M4CLJ4H2V85 |
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
b) | Nature of the transaction | Award of Ordinary Shares in Premier Asset Management Group PLC |
c) | Price(s) and volume(s)
| Price- nil Volumes: 100,000 |
d)
| Aggregated information
| n/a |
e) | Date of the transaction | 7th March 2017 |
f) | Place of the transaction | Outside a trading venue |