Last checked at 13 May 2016 17:04
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
Notes: This form is intended for use by an issuer to make a RIS notification required by DTR 3.
(1) | An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24. |
(2) | An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. |
(3) | An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. |
(4) | An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. |
Please complete all relevant boxes in block capital letters.
1. Name of the issuer
Rentokil Initial plc
2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance LR 9.8.6R(1) or(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).
Pursuant to (i) above
3. Name of person discharging managerial responsibilities/director
1) Andy Ransom (Executive Director)
2) Jeremy Townsend (Executive Director)
4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
Not applicable
5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest
Pursuant to 3. above
6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares
Ordinary shares of 1 pence each
7. Name of registered shareholder(s) and, if more than one, the number of shares held by each of them
Not applicable
8 State the nature of the transaction
Awards under the Performance Share Plan - 2016 award
9. Number of shares, debentures or financial instruments relating to shares acquired
Not applicable
10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
11. Number of shares, debentures or financial instruments relating to shares disposed
Not applicable
12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
13. Price per share or value of transaction
Not applicable
14. Date and place of transaction
Not applicable
15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
Not applicable
16. Date issuer informed of transaction
Not applicable
If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17. Date of grant
12 May 2016 - Performance Share Plan award 2016
18. Period during which or date on which it can be exercised
12 March 2019 to 11 May 2026 (subject to performance conditions)
19. Total amount paid (if any) for grant of the option
Nil
20. Description of shares or debentures involved (class and number)
Ordinary shares of 1 pence each
PSP 2016 Award | Type of award1 | |
Andy Ransom | 913,776 | Performance share plan |
Jeremy Townsend | 587,427 | Performance share plan |
Notes
1Two-thirds of the award relate to relative TSR performance targets and one-third to EPS performance targets.
21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
Nil
22. Total number of shares or debentures over which options held following notification
Target award | Maximum award | Type of award1 | |
Andy Ransom2 | 913,776 | 913,776 | Performance share plan 2016 |
632,324 | 1,053,874 | Performance share plan 2015 | |
680,713 | 1,134,522 | Performance share plan 2014 | |
275,229 | 458,716 | Supplementary performance share plan 2013 | |
| 513,403 | Performance share plan 20131 | |
163,625 | Performance share plan 20121 | ||
2,502,042 | 4,237,916 | Total |
Jeremy Townsend | 587,427 | 587,427 | Performance share plan 2016 |
338,745 | 677,490 | Performance share plan 2015 | |
364,667 | 729,334 | Performance share plan 2014 | |
486,218 | Performance share plan 20131 | ||
1,290,839 | 2,480,469 | Total |
Notes
1Two-thirds of the award relates to relative TSR performance targets and one-third to EPS performance targets.
2 Andy Ransom's maximum award is capped at 200% of salary
3 Unexercised but vested Performance share plan awards including dividend accrual
23. Any additional information
Not applicable
24. Name of contact and telephone number for queries
Daragh Fagan, Company Secretary - +44 (0)1276 607444
25. Name of authorised official of issuer responsible for making notification and date of notification
Daragh Fagan, Company Secretary - 13 May 2016