9 Apr 2018 17:11
9 April 2018
LEI: 2138005C7REHURGWHW31
River and Mercantile Group PLC ("the Company")
NOTIFICATION OF TRANSACTIONS OF
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
PERFORMANCE SHARE PLAN
VESTING OF 2015 AWARD
The Company announces that, as a result of the relevant performance condition having been satisfied, a tranche of the contingent share awards granted in 2015 under the Company's Performance Share Plan to Mr. Chris Rutt (a PDMR) vested on 31 March 2018.
Following such vesting, Mr. Rutt instructed Estera Fiduciary Services (Guernsey) Limited (previously Heritage Corporate Trustees Limited) as the trustee of the River and Mercantile Group Employee Benefits Trust (the "EBT") to sell, as directed by the Company, all of the shares that vested, with the proceeds to be received as cash, net of taxes.
The total number of shares sold by the EBT in relation to the PDMR was 5,544. The shares were sold in the market on 6 April 2018 at 318 pence per share.
The table below sets out the shares that vested, the number of shares sold and the respective beneficial holdings in the Company of the PDMR following the vesting and sale:
PDMR | Number of PSP Awards Vesting (31 March 2018) | Number of shares sold by the EBT (6 April 2018) | Total Shareholding | Holding % of Issued Share Capital |
Chris Rutt | 5,544 | 5,544 | 2229 | 0.0027% |
Following the vesting, Mr. Rutt's beneficial interest in the Company remains unchanged.
For further information please contact:
River and Mercantile Group PLC +44 (0)20 3327 5100
Sally Buckmaster, Senior Legal Counsel and Company Secretary
Chris Rutt, Deputy Chief Financial Officer and Investor Relations
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Chris Rutt | |||
2 | Reason for the notification | ||||
a) | Position/status | PDMR - Deputy Chief Financial Officer and Investor Relations | |||
b) | Initial notification/Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | River and Mercantile Group PLC | |||
b) | LEI | 2138005C7REHURGWHW31 | |||
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 £0.003 pence each GB00BLZH7X42
| |||
b) | Nature of the transaction | 1. Sale of shares following the vesting of an award under the River and Mercantile Group PLC Performance Share Plan
| |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1. 318p | 1. 5,544 | ||||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total | |
1. 318p | 1. 5,544 | 1. £17,629.92 | |||
e) | Date of the transaction | 6 April 2018 | |||
f) | Place of the transaction | London Stock Exchange | |||
RIV.L (RIV)