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17 May 2024 15:44
SAVILLS PLC (THE "COMPANY")
TRANSACTION IN SHARES BY DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)
Grant of Share Awards
The Company announces that on 17 May 2024 awards have been made under to Directors and PDMRs of the Company as follows under the Performance Share Plan:
Director / PDMR | Number of Shares subject to the Performance Share Plan awarded to the Director / PDMR on 17 May 2024 | Total number of shares subject to the Performance Share Plan following this notification |
Mark Ridley (Director) | 53,620 | 188,624 |
Simon Shaw (Director) | 41,034 | 144,265 |
Chris Lee (PDMR) | 20,754 | 73,052 |
The Performance Share Plan provides for the award of nil cost options or conditional awards of ordinary shares in the Company.
Awards of shares are made subject to a three-year performance period. Awards which satisfy the applicable performance criteria (as below) in the three-year performance period will then vest after an additional two-year holding period.
Awards vest subject to the satisfaction of the following performance criteria measured over the three years to 31 December 2026:
(a) one-third of the initial value of an award is subject to the Company's Total Shareholder Return ('TSR') performance measured against the TSR of the FTSE Mid 250 Index (excluding investment trusts);
(b) a further one-third of the initial value of an award is subject to Group Earnings per Share ('EPS') performance; and
(c) the final one-third of the initial value of an award is subject to the three-year average Return on Capital Employed ('ROCE') of the Company.
Awards vest as follows:
(a) for the TSR linked part of an award, 25% (i.e. threshold) will vest if the Company's TSR matches Index performance, rising to 100% (i.e. maximum) if the Company's TSR outperforms the Index by 8% p.a., compound or more with sliding scale vesting between the two points;
(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest if the Company's EPS growth over the period is 6% p.a., compound rising to 100% (i.e. maximum) if the Company's EPS growth over the period is 20% p.a., compound or more with sliding scale vesting between the two points; and
(c) for the ROCE linked part of an award, 25% (i.e. threshold) will vest if the Company's ROCE is at least 10% p.a., rising to 100% (i.e. maximum) if the Company's ROCE is 20% p.a. or more; and with straight-line vesting between the two points.
The information set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.
1. | Details of the Director/ PDMR
| ||
(a) | Name | 1. Mark Ridley 2. Simon Shaw 3. Chris Lee
| |
2. | Reason for the notification
| ||
(a) | Position/ status | 1. Group Chief Executive/ Director 2. Group Chief Financial Officer/ Director 3. Group Legal Director and Company Secretary/ PDMR
| |
(b) | Initial notification/ Amendment
| Initial notification | |
3. | Details of the issuer
| ||
(a) | Name | Savills plc
| |
(b) | LEI | 213800WXICGMBWHTA933
| |
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
| Savills plc Ordinary Shares of 2.5p each | |
(b) | Identification code of the Financial Instrument
| GB00B135BJ46 | |
(c) | Nature of the transaction
| Grant of awards over Ordinary Shares in accordance with the Company's Performance Share Plan
| |
(d) | Price(s) and volume(s)
| Price(s) | Volume(s)
|
n/a
| 1. 53,620 2. 41,034 3. 20,754
| ||
(e) | Aggregated information
- Aggregated volume - Price
| N/A
| |
(f) | Date of the transaction
| 17 May 2024 | |
(g) | Place of the transaction
| Outside a trading venue | |
Name of contact and telephone number for queries:
Chris Lee
Group Legal Director & Company Secretary
020 3107 5444
17 May 2024
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