Last checked at 3 Apr 2023 17:05
TP ICAP Group plc
LEI: 2138006YAA7IRVKKGE63
3 April 2023
TP ICAP Group plc (the 'Company' or 'TP ICAP')
Notification of transactions by persons discharging managerial responsibilities ('PDMRs')
On 31 March 2023 the Company received the following notifications relating to the:
· vesting of awards granted on 30 March 2020 over ordinary shares of 25p each of the Company (the "Company Shares") under the rules of the TP ICAP plc Deferred Bonus Plan 2019 (the "2019 DBS Plan");
· grant of awards over the Company Shares under the rules of the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023 (the "2023 DBS Plan"); and
· grant of awards over the Company Shares under the rules of the TP ICAP Group plc Restricted Share Plan (the "RSP").
Vesting of awards
Following the vestings, a total of 500,706 Company Shares were released by the TP ICAP Employee Benefit Trust ("EBT") to the PDMRs named in the table below, who then elected to sell a number of shares to settle the income tax and national insurance ("NI") liabilities and dealing charges arising upon the vesting of the awards. The table sets out the number of Company Shares released to each PDMR, the number subsequently sold to discharge the income tax, NI liability and dealing charges incurred as a result of their awards vesting, and the number retained by each PDMR.
PDMR | Nicolas Breteau | Philip Price | Robin Stewart |
Title | Chief Executive Officer | Group General Counsel | Chief Financial Officer |
2019 DBS Plan | |||
Company Shares Released | 247,397 | 128,719 | 124,590 |
Company Shares sold to discharge tax and NI liabilities and dealing charges | 116,569 | 60,651 | 58,705 |
Sale price per Company Share (£) | 1.797807 | 1.797807 | 1.797807 |
Company Shares Retained | 130,828 | 68,068 | 65,885 |
Grant of awards
In relation to the 2023 DBS Plan, the number of Company Shares that will vest in tranches on the Normal Vesting Dates are subject to the Rules of the applicable Plan. The Normal Vesting Dates are 31 March 2024, 31 March 2025, and 31 March 2026.
The 2023 RSP award will vest on the third anniversary of the date of grant and a further two-year holding period will apply. The PDMRs listed below will not be permitted to sell any shares during this time. Any portion of the award that does not meet the vesting conditions will lapse.
The number of awards granted was calculated using a share price of £1.7950, based on the volume-weighted average price for the five trading days preceding and including the date of grant, being 31 March 2023.
PDMR | Title | Number of shares | Share price | Nature of Transaction |
Nicolas Breteau | Chief Executive Officer | 324,338 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023. |
546,657 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. | ||
Philip Price | Group General Counsel | 155,458 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023. |
330,779 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. | ||
Robin Stewart | Chief Financial Officer | 149,896 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023. |
323,816 | £1.7950 | Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. |
Notifications
The following notifications are made in accordance with the requirements of the UK Market Abuse Regulation and provides further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Nicolas Breteau | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director and PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| TP ICAP Group plc | ||||
b)
| LEI
| 2138006YAA7IRVKKGE63 | ||||
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
| |||||
Transaction 1 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
247,397
£nil
| ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction | Outside a trading venue | ||||
Transaction 2 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
116,569
1.797807 | ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction | London Stock Exchange | ||||
Transaction 3 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
324,338
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
Transaction 4 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
546,657
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Philip Price | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director and PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| TP ICAP Group plc | ||||
b)
| LEI
| 2138006YAA7IRVKKGE63 | ||||
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
| |||||
Transaction 1 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
128,719
£nil
| ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Transaction 2 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
60,651
1.797807 | ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
Transaction 3 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
155,458
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
Transaction 4 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
330,779
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Robin Stewart | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director and PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| TP ICAP Group plc | ||||
b)
| LEI
| 2138006YAA7IRVKKGE63 | ||||
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
| |||||
Transaction 1 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
124,590
£nil
| ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Transaction 2 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
58,705
1.797807 | ||||
e)
| Date of the transaction
| 30 March 2023 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
Transaction 3 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
149,896
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
Transaction 4 | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
JE00BMDZN391 | ||||
b)
| Nature of the transaction
| Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
323,816
£1.7950 | ||||
e)
| Date of the transaction
| 31 March 2023 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
Enquiries
Vicky Hart
Group Company Secretary
+44 (0) 20 7200 7117
companysecretarial@tpicap.com