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23 Oct 2020 13:55
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
23 October 2020
For immediate release
Secure Trust Bank PLC (the "Company")
Grant of awards under the Company's 2017 Long Term Incentive Plan ("LTIP")
On 22 October 2020 the Company granted awards over ordinary shares ("Ordinary Shares") under the LTIP to the following PDMRs:
PDMR | Number of Ordinary Shares over which award granted | Exercise price |
Paul Lynam | 91,837 | £0.40 per Ordinary Share |
Rachel Lawrence | 10,204 | £0.40 per Ordinary Share |
Kevin Hayes | 17,857 | £0.40 per Ordinary Share |
David Nield | 17,857 | £0.40 per Ordinary Share |
Jon Bowers | 14,286 | £0.40 per Ordinary Share |
Anne McKenning | 9,184 | £0.40 per Ordinary Share |
Roy Aston | 6,122 | £0.40 per Ordinary Share |
Adrian Walters | 6,122 | £0.40 per Ordinary Share |
Paul Kilbride | 2,041 | £0.40 per Ordinary Share |
Nick Davies | 17,857 | £0.40 per Ordinary Share |
Nick Shepherd | 3,061 | £0.40 per Ordinary Share |
Alan Karter | 9,184 | £0.40 per Ordinary Share |
David Mercer | 6,122 | £0.40 per Ordinary Share |
John Bevan | 5,102 | £0.40 per Ordinary Share |
The number of shares under each award was set by reference to a value per Ordinary Share of £9.80. £9.80 is a year to date average determined in late September 2020.
Each award has been granted subject to performance conditions based on sliding scale measures of: (1) the Company's total shareholder return over the performance period (see below) relative to the total shareholder return of a group of eight comparator companies over the same period; (2) the Company's total shareholder return over the performance period relative to the total shareholder return performance of the current constituent companies of the FTSE Small Cap Index (excluding investment trusts) over the same period; (3) the compound annual rate of growth of the Company's total shareholder return over the performance period (20% p.a. for threshold vesting, to 40% p.a. for full vesting of this element); and (4) an assessment of the Company's approach to risk management over the performance period.
The performance conditions also include an underpin measure in respect of the total shareholder return elements, which includes an assessment of general financial performance, shareholder experience and risk management performance.
The performance period in each case is a period of three years starting on 1 October 2020 and ending with 30 September 2023 except in the case of the award to John Bevan. Mr Bevan's award is structured so as to comprise three equal tranches, with respective performance periods of one year, two years and three years respectively each starting on 1 October 2020.
Each of the four performance conditions noted above accounts for 25% of the award (or tranche as relevant).
Each award (or tranche as relevant) will, ordinarily, vest on the date on which the Company's Remuneration Committee of the Board of Directors, determines the extent to which the performance conditions have been satisfied. Each award (or tranche as relevant) will be released so that the participant is entitled to acquire the vested Ordinary Shares on the vesting date except in the case of Paul Lynam when the date of release will be at the end of a holding period which shall end on the second anniversary of the vesting date.
In accordance with the terms of the awards, the exercise price payable may be waived before exercise.
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Paul Lynam | ||||
2. | Reason for the notification
| |||||
a) | Position / status | Director/PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Rachel Lawrence | ||||
2. | Reason for the notification
| |||||
a) | Position / status | Director/PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Kevin Hayes | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | David Nield | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Jon Bowers | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Anne McKenning | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Roy Aston | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Adrian Walters | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Paul Kilbride | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Nick Davies | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Nick Shepherd | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Alan Karter | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | David Mercer | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | John Bevan | ||||
2. | Reason for the notification
| |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer | |||||
a) | Name | Secure Trust Bank PLC
| ||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||
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 40p each in Secure Trust Bank PLC. | ||||
b) | Identification code | GB00B6TKHP66 | ||||
c) | Nature of the transaction | Grant of nominal-cost options over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information - Volume - Price | N/A | ||||
f) | Date of the transaction | 22 October 2020 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
Mark Stevens
Company Secretary
Secure Trust Bank PLC
+44 121 693 9100
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