Last checked at 13 Apr 2023 16:00
FOR IMMEDIATE RELEASE LEI: 213800QGNIWTXFMENJ24
13 April 2023
SSP Group plc
(the "Company")
Notification of transactions by a Person Discharging Managerial Responsibility ("PDMR")
The Company makes the following announcement regarding the automatic vesting on 11 April 2023 of a buy-out award made under the Company's Restricted Share Plan (the "RSP") over ordinary shares of 117/200 pence nominal value in the capital of the Company (the "Shares") to the Group CEO on 11 April 2022 as part of his recruitment arrangements. Details of the award are set out in the Company's 2022 Annual Report and details of the vesting, including the sale of Shares on behalf of the Group CEO to settle his withholding tax liability in relation to the same, are as set out in the table below. The award was settled using Shares held in the Company's employee benefit trust.
Name of PDMR | Position | Number of Shares acquired on vesting | Number of Shares sold to cover tax and costs | Net number of Shares held post sale to cover tax and costs |
Patrick Coveney | Group Chief Executive Officer | 41,469 | 19,545 | 21,924 |
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK version of the EU Market Abuse Regulation which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
For further information, please contact:
SSP Group plc
Fiona Scattergood
Group General Counsel & Company Secretary
Tel: +44 (0) 207 543 3305
1 | Details of the person discharging managerial responsibility | |||||||||||||
a) | Name | Patrick Coveney | ||||||||||||
2 | Reason for the notification | |||||||||||||
a) | Position/status | Group Chief Executive Officer | ||||||||||||
b) | Initial notification/amendment | Initial notification | ||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
a) | Full name of the entity | SSP Group plc | ||||||||||||
b) | Legal Entity Identifier Code | 213800QGNIWTXFMENJ24 | ||||||||||||
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 | Ordinary Shares of 117/200 pence | ||||||||||||
b) | Identification Code | GB00BNGWY422 | ||||||||||||
c) | Nature of the transaction | 1. The acquisition of shares on the automatic vesting of an award under the Company's Restricted Share Plan (RSP); and 2. The automatic sale of shares acquired on the vesting of an award under the RSP to settle income tax/national insurance liabilities and costs arising on such vesting. | ||||||||||||
d) | Currency | GBP - British Pound | ||||||||||||
e) | Price(s) and Volume(s) | 1. Vest:
2. Sale to discharge tax liabilities:
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f) | Aggregated Information - Price - Volume - Total Price | 1. Vest:
2. Sale to discharge tax liabilities:
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g) | Date of transaction | 1. Vest - 11 April 2023 2. Sale - 12 April 2023 | ||||||||||||
h) | Place of transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||