Director/PDMR Shareholding

RNS Number : 4167M

Cenkos Securities PLC

16 July 2014

 



16 July 2014

Cenkos Securities plc ("Cenkos" or "the Company")

Award of shares under Share Incentive Plan (SIP), launch of Save As You Earn Sharesave Scheme (SAYE) and Directors' Dealings

Cenkos is pleased to announce that it has launched two HM Revenue and Customs approved all share schemes, a SIP and a SAYE. All employees including the Executive Directors of the Company ("Qualifying Employees") may participate in these schemes.

(i)       SIP scheme and Directors' dealings

The SIP is an all-employee trust arrangement approved by  HM Revenue and Customs under which Qualifying Employees are able to purchase ordinary shares in the Company ("Ordinary Shares") up to a value of £1,800 ("Partnership Shares") using a lump sum deduction from their salary.  Qualifying Employees purchasing Partnership Shares will also be allocated matching Ordinary Shares on a two-for-one basis ("Matching Shares") up to a total value of £3,600.  In addition, a further £3,600 in value of Ordinary Shares has been awarded to each Qualifying Employee under the SIP ("Free Shares") from the Company's Employee Benefit Trust.

On 10 July 2014, Executive Directors Jim Durkin, Paul Hodges, Jeremy Warner Allen, Joe Nally and Mike Chilton each, subscribed £1,800 to acquire Partnership Shares and as a result will  each also be awarded a further £3,600 of Matching Shares.

On 15 July 2014 in accordance with the terms and conditions of the SIP, Qualifying Employees were each awarded 1,558 Free Shares.  Accordingly, the Executive Directors' new shareholdings in the Company are set out in the table below:

Directors	Number of Free Shares Awarded	Total of Ordinary Shares held	% of Issued Share Capital
Jim Durkin	1,558	5,724,058	9.01%
Paul Hodges	1,558	5,862,308	9.23%
Jeremy Warner Allen	1,558	1,560,258	2.46%
Joe Nally	1,558	1,251,558	1.97%
Mike Chilton	1,558	11,058	0.02%

The purchase of the Partnership Shares and Matching Shares in the market will be undertaken in accordance with the terms and conditions of the SIP and the awards of those shares to the Executive Directors will be notified to the market when these take place.  All such shares will be held by the independent SIP trustees (Capita IRG Trustees Limited) and the Free Shares and Matching Shares cannot be released to participants until the expiry of the five year period following the date of the award, except in certain specific circumstances.

(ii)      SAYE and Directors' dealings

The SAYE, which is a HM Revenue and Customs approved share option scheme, will run for an initial three year period. Qualifying Employees will subscribe, through payroll deductions, a monthly sum of up to £500 into the scheme. At the end of the three year period the Qualifying Employee will have the option to purchase Ordinary Shares.  In the subscription window which has just closed, 51 Qualifying Employees have applied to participate in the SAYE.  A total of up to 401,532 options over Ordinary Shares have as a result been granted to such Qualifying Employees. The options are priced at 172.8 pence per Ordinary Share, a 20% discount to the market price of an Ordinary Share on 26 June 2014, being the time that the subscription window opened to employees.

Executive Directors Jim Durkin, Paul Hodges, Jeremy Warner Allen, Joe Nally and Mike Chilton have each been granted 10,416 options over Ordinary Shares at a price of 172.8 pence per share under the terms of the SAYE.

As at 15 July 2014, the Company had 63,517,122 Ordinary Shares of 1 pence each in issue. At the same date the total number of options outstanding over the Company's issued share capital was 16,059,574.  This is made up of 401,532 options under the SAYE, 5,035,000 options under LTIP and 10,623,042 awards under the Compensatory Award Plan.

Enquiries:

Jim Durkin                                                                         [phone]

Chief Executive Officer       

Cenkos Securities plc

Dr Azhic Basirov / David Jones / Ben Jeynes       [phone]

Nominated Adviser

Smith & Williamson Corporate Finance Limited

David Rydell/Duncan Mayall                                         [phone]

Bell Pottinger                                                     

 

END

 

 

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