20 May 2020 12:20
20 May 2020
LEI: 2138005C7REHURGWHW31
River and Mercantile Group PLC ("the Company")
NOTIFICATION OF TRANSACTIONS OF
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
BUY-OUT AWARD FOR SIMON WILSON
GRANT OF AWARD
The Company announces that on the 19th of May 2020 Simon Wilson, Chief Financial Officer and PDMR, was granted a one-off conditional award of 177,061 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. Wilson 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 number of Shares was calculated using a market price of 165.20p per Share, being the three-day Volume Weighted Average Price for the period 14 May 2020 to 18 May 2020.
The Buy-out Award will ordinarily vest on 30 June 2023 subject to Mr. Wilson's continued service with the Company.
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
| Simon Wilson
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer - 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 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 | 177,061 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 177,061
| ||||
- Price
| GBP 0.00 | ||||
e)
| Date of the transaction
| 19 May 2020 | |||
f)
| Place of the transaction
| Outside a trading venue | |||