Last checked at 6 Aug 2019 10:12
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Derek Randall | ||||
2 | Reason for the notification | |||||
a) | Position/status | Executive Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Severfield plc | ||||
b) | LEI | 21380025AWPR781CY104 | ||||
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 |
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b) | Nature of the transaction | The sale of ordinary shares acquired for nil consideration upon the settlement on 1st July 2019 of a long-term incentive award made under the Company's long-term share incentive plan. The sale was undertaken in order to fund additional tax liability on the award arising due to changes in Indian tax law notified on 1st August 2019, but effective from 1 April 2019. The change in the rate of tax was notified after the award was made and after the tax liability arising on the award, based on rates in force at the time of the award, had already been cash settled. | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
| Single transaction | ||||
e) | Date of the transaction | 5/08/2019 | ||||
f) | Place of the transaction | XLON | ||||
Name of Company Official responsible for making notification:
Mark Sanderson, Company Secretary
Contact details: 01845 577896
Severfield plc
Severs House
Dalton Airfield Industrial Estate
Thirsk
North Yorkshire
YO7 3JN
6th August 2019
Classification 3.1