Last checked at 6 Feb 2023 07:00
6 February 2023
Watkin Jones plc
('Watkin Jones' or the 'Company')
Director/PDMR Shareholding
Watkin Jones plc (AIM:WJG) announces that on 3 February 2023, the following nominal-cost share awards over ordinary shares of 1 penny each in the Company were granted under the Watkin Jones Long Term Incentive Plan 2018 to the following persons discharging managerial responsibilities ('Awards'):
PDMR | Position | Number of shares granted under the Awards | Total number of shares subject to outstanding LTIP Awards |
Richard Simpson | Chief Executive Officer | 732,752 | 1,878,473 |
Sarah Sergeant | Chief Financial Officer | 279,255 | 393,323 |
Alex Pease | Chief Investment Officer | 265,957 | 555,981 |
The Awards have a nominal exercise price of one penny per share and normally become exercisable after three years from the date of grant, subject to continued employment and performance based on the Company's total shareholder return relative to the constituents of the FTSE 350 Real Estate Sector (excluding agencies) (50%) and earnings per share performance (50%), each measured over a three-year performance period.
The Remuneration Committee intends to set the EPS target range within 6 months of grant of the Awards. If the Committee does not set the EPS target range for any reason, Awards will be determined by reference to relative TSR in respect of 100% of each Award.
In addition to assessing the performance conditions, which will be disclosed in full detail in next year's Directors' Remuneration Report, the Remuneration Committee retains discretion to reduce the vesting of Awards to ensure that all relevant factors are taken into account, including the consideration of any windfall gains.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Richard Simpson | ||||
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 | Watkin Jones plc | ||||
b) | LEI | 2138009X19O21NU5SG79 | ||||
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 £0.01 each
ISIN: GB00BD6RF223 | ||||
b) | Nature of the transaction | Grant of Award under the Watkin Jones Long Term Incentive Plan 2018 | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 3 February 2023 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Sarah Sergeant | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Watkin Jones plc | ||||
b) | LEI | 2138009X19O21NU5SG79 | ||||
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 £0.01 each
ISIN: GB00BD6RF223 | ||||
b) | Nature of the transaction | Grant of Award under the Watkin Jones Long Term Incentive Plan 2018 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 3 February 2023 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alex Pease | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Investment Officer | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Watkin Jones plc | ||||
b) | LEI | 2138009X19O21NU5SG79 | ||||
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 £0.01 each
ISIN: GB00BD6RF223 | ||||
b) | Nature of the transaction | Grant of Award under the Watkin Jones Long Term Incentive Plan 2018 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 3 February 2023 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
- Ends -
For further information:
Watkin Jones plc |
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Richard Simpson, Chief Executive Officer | Tel: +44 (0) 20 3617 4453 |
Sarah Sergeant, Chief Financial Officer | www.watkinjonesplc.com |
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Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) | Tel: +44 (0) 20 7418 8900 |
Mike Bell / Ed Allsopp | www.peelhunt.com |
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Jefferies Hoare Govett (Joint Corporate Broker) | Tel: +44 (0) 20 7029 8000 |
James Umbers / David Sheehan / Paul Bundred | www.jefferies.com |
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Media enquiries: |
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Buchanan |
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Henry Harrison-Topham / Jamie Hooper | Tel: +44 (0) 20 7466 5000 |
watkinjones@buchanan.uk.com | www.buchanan.uk.com |