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6 Apr 2017 14:00
6 April 2017
River and Mercantile Group PLC ("the Company")
NOTIFICATION OF TRANSACTIONS OF
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
PERFORMANCE SHARE PLAN
VESTING OF 2014 AWARD
The Company announces that, as a result of the relevant performance condition having been satisfied, a tranche of the contingent share awards granted in 2014 under the Company's Performance Share Plan to Mr. Chris Rutt (a PDMR) vested on 3 April 2017.
Following such vesting, Mr. Rutt instructed Heritage Corporate Trustees Limited as the trustee of the River and Mercantile Group Employee Benefits Trust (the 'EBT') to sell or retain, as directed by the Company, a proportion of the shares that vested, in order to satisfy his income tax and national insurance liabilities arising on vesting. The share price used to determine the tax liability was 263.000 pence per share.
The table below sets out the shares that vested on 3 April 2017, the number of shares sold or retained by the EBT following such vesting and the respective beneficial holdings in the Company of the PDMR:
PDMR | Number of PSP Awards Vesting | Number of shares sold or retained by EBT to meet tax liabilities | Total Shareholding | Holding % of Issued Share Capital |
Chris Rutt | 3,559 | 1,673 | 15,299 | 0.018% |
On 5 April 2017, Mr. Rutt transferred 1,886 Ordinary Shares of 0.003 each in the Company to his ISA. Following the transfer, Mr. Rutt's beneficial interest in the Company remains unchanged.
For further information please contact:
River and Mercantile Group PLC +44 (0)20 3327 5100
Sally Buckmaster, Senior Counsel and Company Secretary
Chris Rutt, Deputy Chief Financial Officer and Investor Relations
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