4 Oct 2017 18:05
4 October 2017
LEI: 2138005C7REHURGWHW31
River and Mercantile Group PLC ("the Company")
NOTIFICATION OF TRANSACTION BY DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMR')
Grant of awards under the River and Mercantile Group PLC Performance Share Plan (the 'PSP')
The Company announces that on 2 October 2017 Mike Faulkner, Chief Executive Officer, James Barham, Director, and Kevin Hayes, Director, were granted conditional awards of River and Mercantile Group PLC Ordinary Shares under the River and Mercantile Group PLC PSP.
The number of shares was calculated using a market price of 312p per share, being the five day Volume Weighted Average Price for the period 25 September 2017 to 29 September 2017.
Director/PDMR
| Number of Shares | Performance period | Performance Condition of Award |
Mike Faulkner | 187,179 | 3 years | PSP awards will only vest in full if the Company's shares deliver a compound annual total shareholder return (TSR) of at least 12% per annum between 1 July 2017 and 30 June 2020. No PSP will vest if the TSR for the Performance Period is less than 8%, and the PSP will vest pro-rata if the TSR is between 8-12%. |
James Barham | 57,372 | 3 years | PSP awards will only vest in full if the Company's shares deliver a compound annual total shareholder return (TSR) of at least 12% per annum between 1 July 2017 and 30 June 2020. No PSP will vest if the TSR for the Performance Period is less than 8%, and the PSP will vest pro-rata if the TSR is between 8-12%. |
Kevin Hayes | 59,936 | 3 years | PSP awards will only vest in full if the Company's shares deliver a compound annual total shareholder return (TSR) of at least 12% per annum between 1 July 2017 and 30 June 2020. No PSP will vest if the TSR for the Performance Period is less than 8%, and the PSP will vest pro-rata if the TSR is between 8-12%. |
The conditional awards of shares granted under the PSP will vest on 30 June 2020, subject to the satisfaction of specified performance criteria and other terms in accordance with the rules of the PSP.
Formal notification in respect of the PDMRs is set out below in accordance with the requirements of the Market Abuse Regulation.
For further information please contact:
River and Mercantile Group PLC +44 (0)20 3327 5100
Sally Buckmaster, Senior Counsel and Group Company Secretary
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Mike Faulkner | |||
2 | Reason for the notification | ||||
a) | Position/status | Director - 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 | 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 Identification code | Ordinary shares of £0.003 pence each GB00BLZH7X42
| |||
b) | Nature of the transaction | 1. Grant of award under River and Mercantile Group PLC Performance Share Plan
| |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1. 312p | 1. 187,179 | ||||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total | |
1. 312p | 1. 187,179 | 1. £583,998.48 | |||
e) | Date of the transaction | 2 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | James Barham | |||
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 | 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 Identification code | Ordinary shares of £0.003 pence each GB00BLZH7X42
| |||
b) | Nature of the transaction | 1. Grant of award under River and Mercantile Group PLC Performance Share Plan
| |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1. 312p | 1. 57,372 | ||||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total | |
1. 312p | 1. 57,372 | 1. £179,000.64 | |||
e) | Date of the transaction | 2 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Kevin Hayes | |||
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 | 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 Identification code | Ordinary shares of £0.003 pence each GB00BLZH7X42
| |||
b) | Nature of the transaction | 1. Grant of award under River and Mercantile Group PLC Performance Share Plan
| |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1. 312p | 1. 59,936 | ||||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total | |
1. 312p | 1. 59,936 | 1. £187,000.32 | |||
e) | Date of the transaction | 2 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||