Last checked at 30 Mar 2020 16:30
30 March 2020
Reach plc (the "Company")
Grant of Awards under the Company's Restricted Share Plan ("RSP")
The independent trustee (the "Trustee") of the Company's Employees' Benefit Trust based in Jersey (the "Trust") notified the Company that on 27 March 2020 it granted Restricted Share awards under the RSP to Persons Discharging Managerial Responsibility ("PDMR") within the Company, in the amounts set out below.
Under the terms of the RSP, the participant is the beneficial owner of the Restricted Shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of a three year vesting period (the "Restricted Period").
During the Restricted Period, a participant may not dispose of the Restricted Shares, and cannot vote or receive any dividends in respect of the Restricted Shares. An additional award of Restricted Shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.
During the Restricted Period, the Restricted Shares will be subject to the malus provisions of the RSP.
The base price for calculating the level of award was 96.9p, the average market closing price between 24 and 26 March 2020.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Jim Mullen | |||
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
| Reach plc | |||
b)
| LEI
| 213800GNI5XF3XOATR61 | |||
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 10p Shares | |||
Identification code | GB0009039941 | ||||
b)
| Nature of the transaction
| Grant of an award of restricted shares under the Restricted Share Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£nil | 33,500 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 33,500 | ||||
- Price | nil | ||||
e)
| Date of the transaction
| 27 March 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Simon Fuller | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Reach plc | |||
b)
| LEI
| 213800GNI5XF3XOATR61 | |||
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 10p Shares | |||
Identification code | GB0009039941 | ||||
b)
| Nature of the transaction
| Grant of an award of restricted shares under the Restricted Share Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£nil | 14,958 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 14,958 | ||||
- Price | nil | ||||
e)
| Date of the transaction
| 27 March 2020 | |||
f)
| Place of the transaction
| XLON | |||
Enquiries
Reach | 020 7293 3000 |
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary
| |
Tulchan Communications | 020 7353 4200 |
David Allchurch, Partner | |
LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
|