Director/PDMR Shareholding

RNS Number : 9119H

Dialight PLC

27 March 2020

 

	Date: 27 March 2020 Dialight plc (the "Company") Director / PDMR Shareholding Options and Awards under the Dialight plc 2014 Performance Share Plan ("PSP") On 27 March 20 20 the under - mentioned Director/Person s Discharging Managerial Responsibility w e r e e a c h granted a nil cost option which entitle d t h e m to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the Dialight PLC 2014 Performance Share Plan (" PSP ") . Name Number of nil cost Options granted under the PSP  Fariyal Khanbabi (Director) 201,367 Ronan Sheehy 18,105 Richard Allan 18,105 On 27 March 20 20 the under - mentioned Persons Discharging Managerial Responsibility, were granted a conditional award, which entitled them to acquire ordinary shares of 1.89 pence each at nil cost in the Company in accordance with the rules of the PSP. Name Number of shares awarded under the PSP  Rizwan Ahmad 18,105 Matt Boudiette 18,105 Luis Ramirez 18,105 Sri Talpallikar 18,105 Tim Cillesen 18,105 Options and awards will normally vest on the third anniversary of grant subject to continued employment. In relation to the awards made to Fariyal Khanbabi only, the option is also subject to the satisfaction of two performance conditions as set out below. 50% of the option is measured against the Company's total shareholder return ("TSR") over the three year period relative to the FTSE SmallCap Index (excluding investment trusts) ("TSR Performance Condition"), and 50% of the option is measured against the Company's underlying earnings per share ("EPS") in 2022 ("EPS Performance Condition"). TSR Performance Condition No part of an option or award subject to the TSR Performance Condition shall vest if the percentage increase in the Company's TSR is below the percentage increase in the TSR of the comparator index. 25% of the ordinary shares subject to the TSR Performance Condition will vest if the percentage increase in the Company's TSR is equal to the percentage increase in the TSR of the comparator index, rising on a straight-line basis to 100% vesting if the percentage increase in the Company's TSR is equal to the increase in the TSR of the index plus 10% per annum. EPS Performance Condition No part of an option or award subject to the EPS Performance Condition will vest if the Company's 2022 EPS is below 24.3p, 25% of the ordinary shares subject to the EPS Option/Award will vest if the Company's 2022 EPS equals 24.3p, rising on a straight-line basis to 100% vesting if the Company's 2022 EPS exceeds 39.7p. No consideration was paid for the grant of these options and awards and no consideration is due to be paid by the participant on the vesting of these options and awards. On vesting, options will be exercisable between 27 March 2023 and 27 March 2025. Scaling-back of award levels The number of options awarded to each individual has been scaled-back to proportionally reflect the fall in the Company's share price since the date of the 2019 awards.  The calculation of this reduction was in line with advice from external remuneration advisers and reflects a proportion of the totality of the share price fall since March 2019 inclusive of the impact of the Covid-19 pandemic. Holding Period A mandatory two-year post-vesting holding period applies to the PSP options granted to Fariyal Khanbabi. The notifications below, which have been made in accordance with the requirement of the Market Abuse Regulation (Regulation (EU) No. 596/2014) provide further details. Richard Allan General Counsel & Company Secretary DD: [phone] Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
	1 Details of PDMR / person closely associated  a) Name Rizwan Ahmad  2. Reason for the notification  a) Position / Status PDMR - VP - Technology and Engineering  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Conditional award over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Luis Ramirez  2. Reason for the notification  a) Position / Status PDMR - Chief Operations Officer  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Conditional award over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Matt Boudiette  2. Reason for the notification  a) Position / Status PDMR - VP and General Manager  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Conditional award over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Sri Talpallikar  2. Reason for the notification  a) Position / Status PDMR - VP - Marketing and Product Management  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Conditional award over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Tim Cillesen  2. Reason for the notification  a) Position / Status PDMR - VP Sales, Americas  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Conditional award over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Fariyal Khanbabi  2. Reason for the notification  a) Position / Status Director - Group Chief Executive Officer  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Grant of a nil-cost option over 201,367 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 201,367  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Ronan Sheehy  2. Reason for the notification  a) Position / Status PDMR - Chief Financial Officer (interim)  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Grant of a nil-cost option over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

1 Details of PDMR / person closely associated  a) Name Richard Allan  2. Reason for the notification  a) Position / Status PDMR - General Counsel and Company Secretary  b) Initial notification / Amendment Initial notification  3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  a) Name Dialight plc  b) LEI 2138001AD31KKD29Z495  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 1.89 pence each in Dialight plc GB0033057794  b)  Nature of the transaction Grant of a nil-cost option over 18,105 ordinary shares under the Dialight PLC 2014 Performance Share Plan.  c)  Price (pence) and volume Price(s) Volume(s) 0.00 18,105  d)  Aggregated information -  Aggregated volume   -    Price (pence) Not applicable - single transaction  e)  Date of the transaction 27/03/2020  f)  Place of the transaction Outside a trading venue

 

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