26 May 2017 15:13
VECTURA GROUP PLC
DIRECTOR/PDMR SHARE DEALING
Vectura Group plc
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them (in accordance with the Market Abuse Regulations)
Chippenham, UK, 26 May 2017: Vectura Group plc (LSE: VEC; "Vectura" or "the Company") confirms that on 25 May 2017, the following Persons Discharging Managerial responsibility ("PDMRs") were granted Share Awards over ordinary shares of 0.025 pence each in Vectura Group plc under the Vectura 2015 Long Term Incentive Plan, as set out below:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | James Ward-Lilley | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Vectura Group plc | ||||
b) | LEI | |||||
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 0.025 pence each in Vectura Group plc GB00B01D1K48 | ||||
b) | Nature of the transaction | Grant of an award under the Company's Long Term Incentive Plan as a nil exercise price option. Vesting is subject to (i) performance over 3 financial years commencing with the year of grant and (ii) continued service and is normally 3 years after grant. Half of the award will vest based on relative total shareholder return (share price growth assuming reinvested dividends) ranking against FTSE250 constituents (excluding financial services and real estate sector companies), 15% vesting at median and 100% at upper quartile. The other half will vest by reference to achievement of cumulative adjusted Earnings Before Interest Tax Depreciation and Amortisation ("EBITDA") targets, 15% vesting at threshold and 100% for achieving stretching performance. At the present time the EBITDA targets are commercially sensitive but will be published shortly after we have updated the market with clarity on the regulatory status of VR315 following the dialogue of ourselves and our partners, Hikma, with the FDA.
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 25 May 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
John Murphy, Company Secretary Tel: + 44 (0)207 881 0524