Director/PDMR Shareholding

RNS Number : 0889U

GVC Holdings PLC

27 March 2019

 

27 March 2019

GVC Holdings PLC

("GVC" or "Company")

Notification of Transactions by Persons Discharging Managerial Responsibility or Persons Closely Associated

Awards granted under the GVC Holdings PLC 2017 Long Term Incentive Plan ("LTIP")  and the Annual and Deferred Bonus Plan ("ADBP")
 

The following awards over GVC ordinary shares of €0.01 each ("Shares") were granted to Executive Directors of the Company on 26 March 2019 as set out below:

Name	Plan	Number of Shares subject to the Award
Kenneth Alexander CEO	LTIP - 2019 grant	344,332
Kenneth Alexander CEO	ADBP - 2018 Deferred Bonus	109,293
Rob Wood CFO	LTIP - 2019 grant	197,044

The allocation for the CEO LTIP grant was calculated by the GVC Remuneration Committee using its discretion and adopting the share price at the close on 5 March 2019 of £6.97 and therefore represents a 27% allocation discount. 

The LTIP awards will normally vest on 26 March 2022, being the third anniversary of the award date subject to a. continuous employment and b. the satisfaction of the relative Total Shareholder Return (50%) and the cumulative Earning Per Share (50%) performance conditions, details of which will be disclosed in the 2018 Directors' Remuneration Report. 

In the Company's remuneration policy, 50% of the CEO's annual bonus is deferred in Shares.  The above deferred bonus award has been granted in respect of the CEO's annual bonus for the 2018 financial year. This award will normally vest on 26 March 2022, being the third anniversary of the award date, subject to continuous employment.

The Company's remuneration policy is focused on incentivising Executive Directors to execute the strategy and create value for shareholders and consequently the remuneration arrangements are heavily weighted towards incentivisation through share awards.  Together with existing share incentive awards and those announced today, Kenneth Alexander now has the following Share interests in GVC:

Holding / Interest	Number of Shares
Shareholding	666,666
Two deferred Share awards under the two GVC Annual and Deferred Bonus Plan	209,869
Three awards under the GVC Long-term Incentive Plan	812,257
Total number of Shares	1,688,792

Via the remuneration policy it is anticipated that this Share interest will build significantly over time dependent on the performance of GVC's business.

Kenneth Alexander (CEO) said:

"I remain totally committed to GVC for the long-term, and as such I will not sell any further shares in GVC while I am CEO.  We have had an excellent start to the year and I look forward to updating on progress in our Q1 trading update on 5th April 2019 and at the Capital Markets Day on 16th May 2019."

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

For further information:

GVC Holdings PLC
Kenneth Alexander, Chief Executive
Rob Wood, Chief Financial Officer
Paul Tymms, Director of Investor Relations and Corporate Communications	([e-mail])
Media enquiries:
Buchanan Communications
David Rydell / Chris Lane	Tel: [phone]

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenneth Alexander
2	Reason for the notification
a)	Position/status	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	GVC Holdings PLC
b)	LEI	213800GNI3K45LQR8L28
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 GVC Holdings PLC of €0.01 each    IM00B5VQMV65
b)	Nature of the transaction	Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil  344,332
d)	Aggregated information - Aggregated volume - Price	344,332 ordinary shares of €0.01 each Nil consideration
e)	Date of the transaction	26 March 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenneth Alexander
2	Reason for the notification
a)	Position/status	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	GVC Holdings PLC
b)	LEI	213800GNI3K45LQR8L28
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 GVC Holdings PLC of €0.01 each    IM00B5VQMV65
b)	Nature of the transaction	Grant of Conditional shares under the GVC Holdings PLC Annual and Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil  109,293
d)	Aggregated information - Aggregated volume - Price	109,293 ordinary shares of €0.01 each Nil consideration
e)	Date of the transaction	26 March 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Rob Wood
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	GVC Holdings PLC
b)	LEI	213800GNI3K45LQR8L28
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 GVC Holdings PLC of €0.01 each    IM00B5VQMV65
b)	Nature of the transaction	Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 197,044
d)	Aggregated information - Aggregated volume - Price	197,044 ordinary shares of €0.01 each Nil consideration
e)	Date of the transaction	26 March 2019
f)	Place of the transaction	Outside a trading venue

 

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