Director/PDMR Shareholding

RNS Number : 8905Y
Paddy Power Betfair plc
20 May 2016
 

Notification of Transactions of (1) Persons Discharging Managerial Responsibility and (2) Persons closely associated with Persons Discharging Managerial Responsibility

 This form is intended for use by an issuer making a notification required by Rules 7.2 and 7.3 of the Central Bank of Ireland's Market Abuse Rules in relation to a person falling within either of the above categories of individual. These categories are defined in Regulation 12 (8) of the Market Abuse (Directive 2003/6/EC) Regulations 2005 and are detailed as part of this form.

All relevant boxes should be completed in block capital letters.

 

1

Name of the Issuer

 

PADDY POWER BETFAIR PLC

2

Name of person discharging managerial responsibilities

BREON CORCORAN (DIRECTOR)

3

State whether notification relates to a person closely associated with a person discharging managerial responsibilities named in 2 and identify the connected person

 

N/A

4

Indicate whether the notification is in respect of a holding of the person referred to in 2 or 3 above or in respect of a non-beneficial interest

 

NOTIFICATION IS IN RESPECT OF THE PERSON NAMED AT 2 ABOVE.

5

Description of shares or derivatives or other financial instruments linked to them

 

 

 

ORDINARY SHARES OF €0.09 EACH

 

6

Name of registered shareholder(s) and, if more than one, number of shares or derivatives or other financial instruments linked to them, held by each shareholder

 

N/A

7

State the nature of the transaction

 

GRANT OF AWARDS UNDER THE PADDY POWER BETFAIR PLC 2015 LONG TERM INCENTIVE PLAN ("LTIP")

 

8

Number of shares, derivatives or other financial instruments linked to them acquired

N/A

9

Number of shares, derivatives  or other financial instruments linked to them  disposed of

N/A

10

Price per share or derivative or other financial instrument linked to them or value of transaction

 

N/A

11

Date and place of transaction

20 MAY 2016, DUBLIN

 

12

Date issuer informed of transaction

20 MAY 2016, DUBLIN

13

Any additional information

AWARDS WILL VEST ON GROWTH IN EPS AND REVENUE MEASURED OVER THREE YEARS, WEIGHTED 75% EPS AND 25% REVENUE. AWARDS ARE ELIGIBLE TO RECEIVE DIVIDEND EQUIVALENTS.

 

THE TARGETS TAKE INTO ACCOUNT EXPECTED DELIVERY OF SYNERGIES AS WELL AS NEW LEVIES AND TAXES IN THE BETTING SECTOR. 

 

PERFORMANCE MEASURE

PERFORMANCE TARGETS

THRESHOLD

(25% VESTING)

STRETCH

(100% VESTING)

ANNUALISED GROWTH IN EPS OVER THE 3-YEAR PERIOD 2016-2018 (75% OF AWARD)

17% P.A.

25% P.A.

WITH SLIDING SCALE VESTING IN BETWEEN

ANNUALISED GROWTH IN REVENUE OVER THE 3-YEAR PERIOD 2016-2018 (25% OF AWARD)

8% P.A.

13% P.A.

WITH SLIDING SCALE VESTING IN BETWEEN

 

 

14.

Name of contact and telephone number for queries

PRITTI PATEL

DEPUTY COMPANY SECRETARY

00 44 (0) 208 834 6886

 

 

Person authorised on behalf of the issuer responsible for making the notification

PRITTI PATEL, DEPUTY COMPANY SECRETARY

 

Date of notification:   20 MAY 2016

 

 

 

Information required under Irish Stock Exchange
Listing Rule 6.10

The following additional information is required to be disclosed under ISE Listing Rule 6.10 in respect of interests in securities of a director or secretary or their connected persons.  An issuer is not being required to submit the information below to the Central Bank in respect of any PDMR who is also a director/secretary/connected persons.

15

Name of director or secretary (if not required to be stated in box 2)

 

BREON CORCORAN (DIRECTOR)

 

16

State whether the notification relates to a single

transaction being notified in accordance with the Market Abuse Rules and ISE LR 6.10

 

NOTIFICATION RELATES TO A SINGLE TRANSACTION BEING NOTIFIED IN ACCORDANCE WITH THE MARKET ABUSE RULES AND ISE LR 6.10

 

17

Description of class of share

 

 

 

ORDINARY SHARES OF €0.09 EACH

 

18

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating  percentage)

 

N/A

 

19

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating  percentage)

 

N/A

 

20

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

 

N/A

 

 

If a person whose interests are required to be disclosed under ISE Listing Rule 6.10 has been granted options by the issuer, please complete the following boxes:

21

Date of grant

 

 

20 MAY 2016

22

Period during which or date on which it can be exercised

 

THE AWARDS WILL VEST ON THE THIRD ANNIVERSARY OF THE DATE OF THE GRANT THEREOF, SUBJECT TO MEETING THE PERFORMANCE CONDITIONS AND CONTINUED EMPLOYMENT.

 

VESTED LTIP AWARDS THEN NORMALLY REMAIN EXERCISABLE UNTIL 10 YEARS FROM GRANT.

 

23

Total amount paid (if any) for grant of the option

 

NO CONSIDERATION FOR THE GRANT OF THE AWARDS, WHICH ARE STRUCTURED AS OPTIONS

 

24

Description of shares involved (class and number)

 

 

11,871 OPTIONS OVER ORDINARY SHARES OF €0.09 EACH

 

25

Exercise price (if fixed at time of grant) or indication that the price is to be fixed at the time of exercise

 

€0.09 PER SHARE

 

 

 

26

Total number of shares over which options are held following notification

 

427,039

 

Name and signature of duly designated officer of issuer responsible for making notification

 

PRITTI PATEL, DEPUTY COMPANY SECRETARY

 

Date of notification:    20 MAY 2016

 

The duly designated officer of the issuer responsible for making this notification acknowledges and confirms that he/she is aware that the information as has been provided in response to the questions 15 to 26 above is not information which has been required by or which has been requested by the Central Bank, and is information which is required to be provided to the Irish Stock Exchange only.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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