13 Nov 2019 13:21
13 November 2019
LEI: 2138005C7REHURGWHW31
River and Mercantile Group PLC (the "Company")
NOTIFICATION OF TRANSACTIONS OF
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
LONG TERM INCENTIVE AWARDS ("LTIA")
GRANT OF AWARDS
Grant of awards under the River and Mercantile Group PLC Deferred Equity Plan (the "DEP").
The Company announces that on 12 November 2019 James Barham, Group Chief Executive, and Jack Berry, Global Head of Complex Clients, both PDMRs, were granted conditional awards of Ordinary Shares in the Company under the DEP (the "2019 LTIA").
The 2019 LTIA are subject to a performance condition with an underpin target based on growth in basic underlying adjusted earnings per share. If this is achieved in aggregate over a three-year performance period, then separate and additional business performance criteria apply to determine the extent to which the 2019 LTIA will vest. The performance period for the 2019 LTIA is for the three financial years measured from 1 July 2019, with a further two-year holding period ending on 30 June 2024.
The number of shares was calculated using a market price of 253.08p per share, being the three-day volume weighted average price for the period 7 November 2019 to 11 November 2019.
Name of individual | Title | Number of shares granted under 2019 LTIA |
James Barham | Group Chief Executive - Director | 569,170 |
Jack Berry | Global Head of Complex Clients - Director | 227,391 |
The 2019 LTIA are subject to continued employment throughout the three-year performance period. During the holding period dividends are payable on any vested award shares reinvested in shares at the ex-dividend date.
Formal notification in respect of the PDMRs is set out below in accordance with the requirements of the Market Abuse Regulation.
Sally Buckmaster
Group Company Secretary
River and Mercantile Group PLC
For further information please contact:
River and Mercantile Group PLC +44 (0)20 3327 5100
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | James Barham | |||
2 | Reason for the notification | ||||
a) | Position/status | Group Chief Executive - Director | |||
b) | Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | River and Mercantile Group PLC | |||
b) | LEI | 2138005C7REHURGWHW31 | |||
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 £0.003 pence each | |||
Identification code | GB00BLZH7X42 | ||||
b) | Nature of the transaction | Grant of LTIA in form of contingent award shares under the River and Mercantile Group PLC Deferred Equity Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
GBP 0.00 | 569,170 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 569,170 | ||||
- Price | GBP 0.00 | ||||
e) | Date of the transaction | 12 November 2019 | |||
f) | Place of the transaction | Outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a) | Name | Jack Berry | |||
2
| Reason for the notification
| ||||
a) | Position/status | Global Head of Complex Clients - Director | |||
b) | Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | River and Mercantile Group PLC | |||
b) | LEI | 2138005C7REHURGWHW31 | |||
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 £0.003 pence each | |||
Identification code | GB00BLZH7X42 | ||||
b) | Nature of the transaction | Grant of LTIA in form of contingent award shares under the River and Mercantile Group PLC Deferred Equity Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
GBP 0.00 | 227,391 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 227,391 | ||||
- Price | GBP 0.00 | ||||
e) | Date of the transaction | 12 November 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||