Director/PDMR Shareholding

RNS Number : 6514S

Crest Nicholson Holdings PLC

18 March 2016

 

Crest Nicholson Holdings plc

Director/PDMR Shareholding

In accordance with the requirements of D.T.R 3.1.2, Crest Nicholson Holdings plc (the "Company") was notified on 17 March 2016 of the following transactions set out in this announcement by certain Directors of the Company and Persons Discharging Managerial Responsibility ("PDMRs") under the Crest Nicholson Holdings plc Long-Term Incentive Plan (the "LTIP")

LTIP Exercise

The Directors and PDMRs set out in the table below were granted options under the LTIP on 8 March 2013. On 8 March 2016 100% of the awards granted under the options became exercisable following satisfaction of the Performance Conditions (relating to return on capital employed, and growth in profit before tax per share). Further details relating to the Performance Conditions of these awards are set out in the Company's IPO Prospectus dated 13 February 2013 and Annual Report in respect of the year ending 31 October 2013 published on 17 February 2014.

On 14 March 2016, following the Company's decision to delay the exercise of options until after the ex-dividend date as part of facilitating an orderly exercise process, additional shares were added to each award, equivalent to the final dividend in respect of financial year ending 31 October 2015 as set out below:

Director/PDMR	Options granted 08/03/2013	Additional shares added in respect of dividend	Total
Stephen Stone*	535,800	14,167	549,967
Patrick Bergin*	300,000	7,932	307,932
Chris Tinker	145,221	3,839	149,060
Steve Evans	123,823	3,274	127,097
Robin Hoyles	99,107	2,620	101,727
Kevin Maguire	72,321	1,912	74,233
Tim Beale	56,283	1,488	57,771

*Denotes an Executive Director of the Company

The additional shares added to the options were calculated based on the ex-dividend share price associated with the dividend together with the value of that dividend, in proportion to the respective option.

On 16 March 2016, those Directors and PDMRs exercised (or part exercised) the options granted to them on 8 March 2013 under the LTIP together with the additional shares (as set out above) over Ordinary Shares of 5 pence each in the Company ("Shares"). Some Directors and PDMRs sold all the shares awarded to them and others sold sufficient shares to meet income tax and national insurance liabilities, retaining the balance. The Company allotted shares from the Company's block listing facility to satisfy the exercise of the Options. Full details of the exercises, subsequent sales and Option balance (in respect of those part-exercising) are set out below:

	Share acquired upon exercise or part-exercise			Shares sold			Shares retained	8 March 2013 Option balance
Director/PDMR	Number	Percentage of total issued share capital	Exercise price	Number	Sale price per Share	Percentage of total issued share capital
Stephen Stone*	549,967	0.217%	£1.00 in total	259,393	£5.29	0.102%	290,574	Nil
Patrick Bergin*	307,932	0.121%	£1.00 in total	145,237	£5.29	0.057%	162,695	Nil
Chris Tinker	61,000	0.024%	£1.00 in total	28,771	£5.29	0.011%	32,229	88,060
Steve Evans	127,097	0.050%	£1.00 in total	127,097	£5.29	0.050%	Nil	Nil
Robin Hoyles	101,727	0.040%	£1.00 in total	47,980	£5.29	0.019%	53,747	Nil
Kevin Maguire	74,233	0.029%	£1.00 in total	35,013	£5.29	0.014%	39,220	Nil
Tim Beale	57,771	0.023%	£1.00 in total	57,771	£5.29	0.023%	Nil	Nil

*Denotes an Executive Director of the Company

Following the transactions set out in this announcement, the Company confirms that at the date of this announcement, each of those directors and PDMRs referenced in this announcement hold the following interests in the Ordinary Shares of 5 pence of the Company:

Director/PDMR	Total shareholding following transactions (including holdings of connected persons)	Total shareholding following transactions	Total number of shares over which options held
Stephen Stone*	4,358,177	1.719%	616,543
Patrick Bergin*	1,079,057	0.426%	348,246
Chris Tinker	1,336,056	0.527%	321,663
Steve Evans	157,765	0.062%	196,866
Robin Hoyles	439,870	0.173%	161,616
Kevin Maguire	149,954	0.059%	128,691
Tim Beale	377,165	0.149%	168,809

*Denotes an Executive Director of the Company

For further information please contact:

Kevin Maguire

Company Secretary                                                         [phone]

18 March 2016

 

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