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20 Jul 2022 10:26
20 July 2022
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Second Vesting of 2018 Long Term Incentive Plan
On 16 July 2021, being the third anniversary of grant, the awards granted to Gavin Rochussen, John Mansell and Iain Evans under the Long Term Incentive Plan ("LTIP") as part of the Company's Equity Incentive Plan vested. Details of the original grant on 16 July 2018 are contained in RNS No. 7916U and details of the initial vesting are contained in RNS No. 6602F.
The terms of the LTIP award provided for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and the achievement of an EPS performance condition by reference to the adjusted diluted total EPS for the year ended 31 March 2021. The EPS performance condition was met in full at the time of vesting.
The fourth anniversary of the LTIP award was 16 July 2022, and the shares were released to the participants on 18 July 2022. These awards have been satisfied by the release of shares from the Employee Benefit Trust to the participants. Furthermore, at each vesting date there is a sale of sufficient shares to cover tax liabilities.
Details of the second vesting of the 2018 LTIP award and sale of shares for each PDMR is provided below:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Gavin Rochussen | |||
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
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 77,972 | ||||
| |||||
d)
| Aggregated information | Single transaction as in 4 c) above | |||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Gavin Rochussen | |||
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
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Sale of shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
464.50p | 44,076 | ||||
| |||||
d)
| Aggregated information | Single transaction as in 4 c) above | |||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| London Stock Exchange, AIM | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| John Mansell | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 43,859 | ||||
| |||||
d)
| Aggregated information | Single transaction as in 4 c) above | |||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| John Mansell | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Sale of shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
464.50p | 24,792 | ||||
| |||||
d)
| Aggregated information | Single transaction as in 4 c) above | |||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| London Stock Exchange, AIM | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Iain Evans | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Global Head of Distribution | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 29,239 | ||||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Iain Evans | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Global Head of Distribution | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Polar Capital Holdings plc | |||
b)
| LEI
| 549300OXX7YE1947B825 | |||
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 2.5p each | |||
Identification code | GB00B1GCLT25 | ||||
b)
| Nature of the transaction
| Sale of shares of the Company on vesting of one third of the 2018 LTIP Award | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
464.50p | 16,528 | ||||
| |||||
d)
| Aggregated information | Single transaction as in 4 c) above | |||
e)
| Date of the transaction
| 18-07-2022 | |||
f)
| Place of the transaction
| London Stock Exchange, AIM | |||
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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