Sign In
Last checked at 
3 Apr 2023 13:00
Vanquis Banking Group plc ("the Company")
Director/PDMR Transaction - Initial Notification
The Company announces that on 30 March 2023, 118,365 ordinary shares of 20 8/11p ("Shares") have vested to Malcolm Le May, who is a director of the Company, in respect of a Basic Award under the Deferred Bonus Plan granted on 30 March 2020. 55,808 of those Shares were sold to satisfy income tax and national insurance contributions due on vesting ("Sell to Cover Shares"). The number of Sell to Cover Shares was calculated based on the closing mid-market price of a Share on the London Stock Exchange of £2.324 on 30 March 2023, being the vesting date of the Basic Award. The net remaining Shares have been retained.
The Company also announces that 6,281 Shares have been delivered for no consideration to Malcolm Le May as a role based allowance (the "RBA").
The annual aggregate value of the RBA is equal to 15% of Mr Le May's base salary and will be delivered in equal amounts of 25% of the total annual value of the RBA (each an "RBA Award") in the form of Shares. An RBA Award will be paid in arrears on the first business day on which the London Stock Exchange is open for trading following 31 March, 30 June, 30 September and 31 December each year.
The RBA Award of 6,281 Shares delivered to Mr Le May on 31 March 2023 was calculated by dividing the monetary value of the RBA Award (less deductions for income tax and social security) by the closing mid-market price of a Share on the London Stock Exchange on 31 March 2023.
The Shares delivered under the RBA Award will be held by a nominee and subject to a holding period, during which the Shares cannot be sold, transferred, charged, pledged, mortgaged or otherwise encumbered. The holding period will end for one third of the Shares subject to the RBA Award on each of 31 March 2024, 31 March 2025 and 31 March 2026.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
a)
| Name
| Malcolm Le May
| ||||||
2
| Reason for the notification
| |||||||
a)
| Position/status
| 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)
| Name
| Vanquis Banking Group plc | ||||||
b)
| LEI
| 213800U93SZC44VXN635 | ||||||
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
Identification code
| Ordinary Shares of 20 8/11p
GB00B1Z4ST84
| ||||||
b)
| Nature of the transaction
| (1) Vesting of a Basic Award under the Deferred Bonus Plan on 30 March 2023 over 118,365 Shares. (2) Subsequent sale of 55,808 Shares to satisfy income tax and national insurance contributions due on vesting of the Basic Award.
| ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d)
| Aggregated information
- Aggregated volume
- Price |
| ||||||
e)
| Date of the transaction | 30 March 2023 | ||||||
f)
| Place of the transaction | (1) Outside a trading venue (2) London Stock Exchange (XLON) | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Malcolm Le May
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 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)
| Name
| Vanquis Banking Group plc | ||||
b)
| LEI
| 213800U93SZC44VXN635 | ||||
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
Identification code
| Ordinary Shares of 20 8/11p
GB00B1Z4ST84
| ||||
b)
| Nature of the transaction
| Delivery of Shares as a role based allowance. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price | Not applicable
| ||||
e)
| Date of the transaction | 31 March 2023 | ||||
f)
| Place of the transaction | Outside a trading venue | ||||
Name of authorised official of issuer responsible for making notification:
David Whincup, Deputy Company Secretary
Date of Notification:
3 April 2023
Follow the stocks
