6 Aug 2021 09:30
Date of issue: 6 August 2021
LEI: 213800WMV4WVES8TQH05
St. Modwen Properties PLC
Notification and public disclosure of transactions by person discharging managerial responsibilities
St. Modwen Properties PLC (the "Company") announces that, on 4 August 2021, Sarwjit Sambhi, an executive director of the Company, exercised 81,353 nil cost options ("Options") over the Company's ordinary shares of £0.10 each ("Shares") under the St. Modwen Properties PLC 2017 Performance Share Plan ("PSP"). The Options vested in accordance with the terms of the PSP at 89.76% with time pro-rating applied at one-third upon the sanction by the High Court of Justice in England and Wales of the scheme of arrangement in connection with the recommended cash acquisition of the Company by Brighton Bidco Limited on 4 August 2021.
The number of Shares retained represents the vested Shares allocated to Sarwjit Sambhi following deductions for income tax and national insurance contributions due on exercise of the Options.
Number of Options exercised | Number of Shares sold to cover income tax and national insurance due on exercise | Number of Shares retained |
81,353 | 38,305 | 43,048 |
The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Sarwjit Sambhi | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Chief Executive Officer | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of issuer | |||||
a) | Name | St. Modwen Properties PLC | ||||
b) | LEI | 213800WMV4WVES8TQH05 | ||||
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
Identification Code | Nil cost options over ordinary shares of £0.10 each in St. Modwen Properties PLC
GB0007291015 | ||||
b) | Nature of the transaction | Exercise of 81,353 nil cost options granted under the St. Modwen Properties PLC 2017 Performance Share Plan award on 26 April 2021. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2021-08-04 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Sarwjit Sambhi | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Chief Executive Officer | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of issuer | |||||
a) | Name | St. Modwen Properties PLC | ||||
b) | LEI | 213800WMV4WVES8TQH05 | ||||
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
Identification Code | Ordinary shares of £0.10 each in St. Modwen Properties PLC
GB0007291015 | ||||
b) | Nature of the transaction | Disposal of 38,305 shares following exercise of nil cost options under the St. Modwen Properties PLC 2017 Performance Share Plan award granted on 26 April 2021 to cover tax liability arising on exercise. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2021-08-04 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
St. Modwen Properties PLC | www.stmodwen.co.uk |
Tom Gough, Head of Corporate Affairs | 0121 222 9400 |