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Last checked at 
14 Apr 2023 11:00
14 April 2023
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Reach plc (the "Company")
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Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
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Grant of 2023 Awards under the Reach Long Term Incentive Plan ("LTIP")
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On 13 April 2023, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors and PDMRs under the LTIP and the following additional terms.
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The number of shares under the LTIP options has been calculated using the three-month average share price to the date of grant of Ā£0.848 per share.
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Vesting of the LTIP options granted in 2023 are subject to the achievement of performance conditions over a three-year period, as set out on page 136 in the Company's 2022 Annual Report.
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Vested LTIP options held by a Director will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability).
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The notifications below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
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1 Ā | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) Ā | Name Ā | Jim Mullen | ||||
2 Ā | Reason for the notification Ā | |||||
a) Ā | Position/status Ā | Chief Executive Officer | ||||
b) Ā | Initial notification /Amendment Ā | Initial Notification | ||||
3 Ā | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) Ā | Name Ā | Reach plc | ||||
b) Ā | LEI Ā | 213800GNI5XF3XOATR61 | ||||
4 Ā | 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 Ā | |||||
a) Ā | Description of the financial instrument, type of instrument | Ordinary 10p Shares | ||||
Identification code | GB0009039941 | |||||
b) Ā | Nature of the transaction Ā Ā | Grant of nil-cost share options under the Reach Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) Ā Ā Ā | Ā
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d) Ā | Aggregated information | |||||
- Aggregated volume | N/A - single transaction | |||||
- Price | ||||||
e) Ā | Date of the transaction Ā | 2023-04-13 | ||||
f) Ā | Place of the transaction Ā | Outside a trading venue | ||||
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1 Ā | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) Ā | Name | Darren Fisher | ||||
2 Ā | Reason for the notification Ā | |||||
a) Ā | Position/status Ā | Chief Financial Officer | ||||
b) Ā | Initial notification /Amendment Ā | Initial Notification | ||||
3 Ā | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor Ā | |||||
a) Ā | Name Ā | Reach plc | ||||
b) Ā | LEI Ā | 213800GNI5XF3XOATR61 | ||||
4 Ā | 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 Ā | |||||
a) Ā | Description of the financial instrument, type of instrument | Ordinary 10p Shares | ||||
Identification code | GB0009039941 | |||||
b) Ā | Nature of the transaction Ā Ā | Grant of nil-cost share options under the Reach Long Term Incentive Plan Ā | ||||
c) | Price(s) and volume(s) Ā Ā Ā | Ā
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d) Ā | Aggregated information | |||||
- Aggregated volume | N/A - single transaction | |||||
- Price | ||||||
e) Ā | Date of the transaction Ā | 2023-04-13 | ||||
f) Ā | Place of the transaction Ā | Ā Outside a trading venue | ||||
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Enquiries
Reach | 020 7293 3000 |
Lorraine Clover, Group Company Secretary | |
Teneo | 020 7353 4200 |
Giles Kernick | |
LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation. Ā |
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