Director/PDMR Shareholding

Currys PLC

04 August 2023

 

NOTIFICATION OF GRANT OF SHARE AWARDS

Currys plc (the "Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

Awards under the Currys Deferred Share Bonus Plan

On 3 August 2023 the following awards over Ordinary Shares were granted under the Currys Deferred Share Bonus Plan (the "DSBP Awards"):

Name of Director / PDMR	Award Reference Value (£)	No. of Ordinary Shares under Award	Vesting Date	Exercise Price
Alex Baldock	150,225	288,617	3 August 2025	Nil
Bruce Marsh	73,689	141,573	3 August 2025	Nil

The DSBP Awards represent one-third of the 2022/23 annual performance bonus entitlement granted in accordance with the Company's approved Remuneration Policy, approved by shareholders at the 2022 AGM. Further details of the 2022/23 annual performance bonus are disclosed in the 2022/23 Directors' Remuneration Report, available at www.currys.com from 3 August 2023.

Each of the DSBP Awards (nil cost options) will ordinarily vest and become exercisable on the second anniversary of the date of grant. The share price used to calculate the numbers of shares was the mid-market price on the day prior to the grant, being 2 August 2023 (£0.5205).

In addition to the above, being mindful of his current shareholding position and to build a stronger alignment with shareholders given the recent market volatility, Alex Baldock proposed to the Remuneration Committee that he would take 100% of his bonus in shares. As described above, one third of the bonus has been deferred as a DSBP award in line with the Remuneration Policy, and the remaining two-thirds of the 2022/23 annual performance bonus (net of tax, NIC and commission charges) has been provided to him as shares. Alex Baldock therefore acquired 304,213 ordinary shares of 0.1p each in the Company at a price of £0.5198 per share on 3 August 2023.  These shares will be retained while he builds towards the 250% of salary shareholding requirement. 

 This announcement is made in accordance with the requirements of Market Abuse Regulation Article 19. 

As at the date of this announcement, the Company has 1,133,494,651 Ordinary Shares in issue.

Details of the full notifications received by the Company are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alex Baldock
2	Reason for Notification
a)	Position/status	Group Chief Executive
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Currys plc
b)	LEI	2138001E12GWLLDQQF16
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 0.1 pence each in Currys plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Grant of a nil cost option award under the Currys Deferred Share Bonus Plan. The award will ordinarily become exercisable two years from the date of grant and then may be exercised for a period of ten years from the date of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 288,617
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	3 August 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bruce Marsh
2	Reason for Notification
a)	Position/status	Group Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Currys plc
b)	LEI	2138001E12GWLLDQQF16
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 0.1 pence each in Currys plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Grant of a nil cost option award under the Currys Deferred Share Bonus Plan. The award will ordinarily become exercisable two years from the date of grant and then may be exercised for a period of ten years from the date of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 141,573
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	3 August 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alex Baldock
2	Reason for Notification
a)	Position/status	Group Chief Executive
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Currys plc
b)	LEI	2138001E12GWLLDQQF16
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 0.1 pence each in Currys plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Purchase of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 51.98p 304,213
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	3 August 2023
f)	Place of the transaction	London Stock Exchange - XLON

Enquiries:

Sarah Thomas    Deputy Company Secretary     [phone]

Dan Homan       Head of Investor Relations      [phone]

 

END