1 Jun 2021 12:00
Date of issue: 1 June 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 28 May 2021, Rob Hudson, an executive director of the Company, exercised 40,092 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 at 32.08% on 20 March 2021 following the achievement of performance conditions measured over a three-year period to 30 November 2020. In accordance with the rules of the PSP, Rob Hudson received an additional number of Shares equivalent to the dividends paid on the vested Options between the date of grant of the PSP and the date of exercise.
The number of Shares retained represents the vested Shares allocated to Rob Hudson following deductions for income tax and national insurance contributions due on exercise of the Options.
Number of Options exercised | Number of dividend equivalent Shares awarded | Number of Shares sold to cover income tax and national insurance due on exercise | Number of Shares retained |
40,092 | 1,157 | 19,388 | 21,861 |
The following notification is made in accordance with the requirements of Article 19(3) of the UK Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Chief Finance and Operations 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 40,092 nil cost options granted under the St. Modwen Properties PLC 2017 Performance Share Plan award on 20 March 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2021-05-28 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Chief Finance and Operations 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 | Award of 1,157 dividend equivalent shares in relation to the exercise of options granted under the St. Modwen Properties PLC Performance Share Plan granted on 20 March 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2021-05-28 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Chief Finance and Operations 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 19,388 shares following exercise of nil cost options under the St. Modwen Properties PLC 2017 Performance Share Plan award granted on 20 March 2018 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 | 2021-05-28 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
St. Modwen Properties PLC | www.stmodwen.co.uk |
Sarwjit Sambhi, Chief Executive Officer Tom Gough, Head of Corporate Affairs | 0121 222 9400 |
FTI Consulting | |
Dido Laurimore Andrew Davis | 020 3727 1000 |