Last checked at 16 Apr 2019 15:24
SAVILLS PLC (THE 'COMPANY')
NOTIFICATION OF INTERESTS OF DIRECTORS/ PDMRS
Grant of Share Awards
The Company announces that on 15 April 2019 the grant of the share based element of 2018 profit share awards has been made under the Savills Deferred Share Bonus Plan to Directors and other persons discharging managerial responsibilities ('PDMR') as follows:-
Director/ PDMR | Number of shares subject to the Savills Deferred Share Bonus Plan awarded to the Director / PDMR on15 April 2019 | Resulting beneficial interest under the Savills Deferred Share Bonus Plan and Savills Deferred Share Plan |
Mark Ridley (Director) | 39,673 | 134,119 |
Simon Shaw (Director) | 59,182 | 158,540 |
Simon Hope (PDMR) | 5,449 | 19,587 |
Chris Lee (PDMR) | 12,643 | 37,008 |
Christian Mancini (PDMR) | 9,940 | 26,403 |
James Sparrow (PDMR) | 26,594 | 44,375 |
The Company announces that on 15 April 2019 the grant of the share based element of 2018 profit share awards has been made under The Schedule to The Savills Deferred Share Bonus Plan to PDMRs based in the United States of America as follows:-
PDMR | Number of shares subject to the Savills Deferred Share Bonus Plan awarded to the PDMR on15 April 2019 | Resulting beneficial interest under the Savills Deferred Share Bonus Plan |
Mitchell Steir (PDMR) | 17,190 | 34,588 |
All the above awards have a Deferred Period of three years and are subject to rolled-up dividend shares whereby the number of shares awarded will be increased on the vesting date to reflect final and interim dividends declared during the Deferred Period.
The Company announces that on 15 April 2019 awards have been made under The Savills plc Performance Share Plan (the 'Performance Share Plan') to Directors and PDMRS as follows:-
Director/ PDMR | Number of shares subject to the Performance Share Plan awarded to the Director / PDMR on 15 April 2019 | Total number of shares subject to Performance Share Plan Awards following this notification |
Mark Ridley (Director) | 62,997 | 161,579 |
Simon Shaw (Director) | 48,174 | 149,835 |
Chris Lee (PDMR) | 24,523 | 65,708 |
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 for Directors.
Awards vest subject to the satisfaction of the following performance criteria measured over the three years following grant:
(a) 50% 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) the other 50% of the initial value of an award is subject to real (i.e. growth in excess of RPI) Group Earnings per Share ('EPS') growth performance.
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 with sliding scale vesting between the two points; and
(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest if the Company's real EPS growth (i.e. growth in excess of RPI) is 3% p.a., compound rising to 100% (i.e. maximum) if the Company's real (i.e. growth in excess of RPI) EPS growth is 8% p.a., compound with sliding scale 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 person discharging managerial responsibilities/ person closely associated
| ||
(a) | Name | 1. Mark Ridley 2. Simon Shaw 3. Simon Hope 4. Chris Lee 5. Christian Mancini 6. James Sparrow 7. Mitchell Steir
| |
2. | Reason for the notification
| ||
(a) | Position/ status | 1. Group Chief Executive/ Director 2. Group Chief Financial Officer/ Director 3. Global Head of Capital Markets/ PDMR 4. Group Legal Director and Company Secretary/ PDMR 5. Chief Executive Officer Asia Pacific (ex-Greater China) / PDMR 6. Chief Executive Officer UK & EMEA/ PDMR 7. Chairman and CEO - Savills North America/ 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
| Awards over 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 Deferred Share Bonus Plan ('DSBP') and Performance Share Plan ('PSP')
| |
(d) | Price(s) and volume(s)
| Price(s) | Volume(s)
|
£nil per share
| 1. 39,673 (DSBP) & 62,997 (PSP) 2. 59,182 (DSBP) & 48,174 (PSP) 3. 5,449 (DSBP) 4. 12,643 (DSBP) & 24,523 (PSP) 5. 9,940 (DSBP) 6. 26,594 (DSBP) 7. 17,190 (DSBP)
| ||
(e) | Aggregated information
- Aggregated volume - Price
| N/A
| |
(f) | Date of the transaction
| 15 April 2019 | |
(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
16 April 2019