Last checked at 11 Dec 2023 13:00
WATCHES OF SWITZERLAND GROUP PLC (the 'Company')
DIRECTOR/PDMR SHAREHOLDING
The Company announces that it has awarded on 11 December 2023 nil cost options to its Executive Directors under the Company's 2019 Long Term Incentive Plan (the 'Awards').
The Performance Target for the Awards consists of the following elements:
· 80% of the Awards will Vest depending on the Company's Cumulative EPS performance against targets (the "EPS Performance Award").
· 20% of the Awards will Vest depending on the Company's Average ROCE performance against targets (the "ROCE Performance Award").
The EPS Performance Awards will Vest as follows
Cumulative EPS | Percentage of Award Vesting |
Less than 189.9 pence | Nil |
189.9 pence | 16% |
Between 189.9 pence and 209.9 pence | Between 16% and 80% on a straight-line basis |
209.9 pence or more | 80% |
The ROCE Performance Awards will Vest as follows
Average ROCE | Percentage of Award Vesting |
Less than 23.7% | Nil |
23.7% | 4% |
Between 23.7% and 26.2% | Between 4% and 20% on a straight-line basis |
26.2% or more | 20% |
The Awards will vest in July 2026 after a performance measurement period of three financial years (FY 2024 to FY 2026) and there is a Holding Period of two years from the vesting date.
The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Brian Duffy a PDMR, in the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Brian Duffy | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name | Watches of Switzerland Group PLC | |||
b)
| LEI | 2138008ZOT5K9PJW7168 | |||
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 | Ordinary Shares of £0.0125 each | |||
Identification code | GB00BJDQQ870 | ||||
b)
| Nature of the transaction
| An award of nil cost options, granted under the Company's 2019 Long Term incentive Plan. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£nil | 149,365 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 149,365 | ||||
- Price | £nil | ||||
e)
| Date of the transaction
| 11 December 2023 | |||
f)
| Place of the transaction | XLON | |||
The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Anders Romberg a PDMR, in the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Anders Romberg | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name | Watches of Switzerland Group PLC | |||
b)
| LEI | 2138008ZOT5K9PJW7168 | |||
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 | Ordinary Shares of £0.0125 each | |||
Identification code | GB00BJDQQ870 | ||||
b)
| Nature of the transaction
| An award of nil cost options, granted under the Company's 2019 Long Term incentive Plan. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£nil | 99,327 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 99,327 | ||||
- Price | £nil | ||||
e)
| Date of the transaction | 11 December 2023 | |||
f)
| Place of the transaction | XLON | |||
Enquiries:
Laura Battley Lucy Legh / Rob Walker / Joanna Clark
Company Secretary and General Counsel Headland
T: 0207 317 4600 T: 0203 805 4822