Last checked at 25 Apr 2017 17:08
SIG plc
DIRECTOR/PDMR Shareholding
Notification and public disclosure of LTIP Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons
SIG plc confirms that an allocation was granted under the terms of the SIG plc 2014 Long Term Incentive Plan ("LTIP") to Executive Directors as set out below. The awards were granted on 24 April 2017 and the ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the LTIP, and are then subject to a further two-year holding period. The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.
Name Status No. of shares subject to allocation
Meinie Oldersma Director 954,003
Group Chief Executive
Nick Maddock Director 459,965
Chief Financial Officer
Following this award, total holding and interests in ordinary shares in SIG plc are:
Name | Total holdings of ordinary shares | Percentage of current issued share capital | Total interest in ordinary shares |
Meinie Oldersma | Nil | Nil | 954,003 |
Nick Maddock | Nil | Nil | 459,965 |
This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Meinie Oldersma | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Executive Officer) | |
b) | Initial notification/Amendment | This is an initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | SIG plc | |
b) | LEI | 213800VDC1BKJEZ8PV53 | |
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 10p
ISIN: GB0008025412 | |
b) | Nature of the transaction | Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
GBP Nil | 954,003 | ||
d) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 954,003 GBP Nil | |
e) | Date of the transaction | 2017-04-24 | |
f) | Place of the transaction | XLON | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Nick Maddock | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Financial Officer) | |
b) | Initial notification/Amendment | This is an initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | SIG plc | |
b) | LEI | 213800VDC1BKJEZ8PV53 | |
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 10p
ISIN: GB0008025412 | |
b) | Nature of the transaction | Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
GBP Nil | 459,965 | ||
d) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 459,965 GBP Nil | |
e) | Date of the transaction | 2017-04-24 | |
f) | Place of the transaction | XLON | |
Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 24 April 2020.
The performance conditions subject to which the options have been granted are as follows:
An Award shall be subject to two performance targets in accordance with this Schedule.
1. Two-thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche"). The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.
Average Return on Capital Employed (ROCE) for FY2017-2019 | % of ROCE Tranche vesting |
10% or less | Nil |
Above 10% but less than 13.5% | Between 0% and 100% on astraight-line basis |
13.5% and above | 100% |
2. One-third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche"). The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.
Cumulative Underlying EPS forFY2017-2019 | % of EPS Tranche vesting |
Less than 31 pence | Nil |
31 pence to 38 pence | Between 0% and 100% on astraight-line basis |
Above 38 pence | 100% |
R C Monro
Company Secretary 0114 285 6355