25 Mar 2022 16:20
25 March 2022
LEI: 2138005C7REHURGWHW31
River and Mercantile Group PLC ("the Company")
NOTIFICATION OF TRANSACTIONS OF
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
BUY-OUT AWARD FOR ALEX HOCTOR-DUNCAN
GRANT OF AWARD
The Company announces that on 25 March 2022 Alex Hoctor-Duncan, CEO and PDMR, was granted a one-off award of nil-cost options over 491,380 River and Mercantile Group PLC ordinary shares of £0.003 pence each ('Shares') pursuant to a buy-out award deed (the 'Buy-out Award').
The Company granted the Buy-out Award to compensate Mr. Hoctor-Duncan for the forfeiture of incentive compensation from his previous employer. The Buyout Award was entered into without prior shareholder approval relying on Listing Rule 9.4.2 and will be limited to settlement with market purchased Shares.
The Buy-out Award will ordinarily vest on 29 November 2024 subject to Mr. Hoctor-Duncan's continued service with the Company.
Formal notification in respect of the PDMR 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
| Alex Hoctor-Duncan
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer - PDMR | |||
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 a one-off buy-out award under a standalone buy-out award deed. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
GBP 0.00 | 491,380 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 491,380
| ||||
- Price
| GBP 0.00 | ||||
e)
| Date of the transaction
| 25 March 2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||