Director/PDMR Shareholding

RNS Number : 4291J

Law Debenture Corp PLC

09 April 2020

 

9 April 2020 

The Law Debenture Corporation p.l.c. (the "Company")

Grant of Awards under The Law Debenture Corporation p.l.c. Long-Term Incentive Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company has been notified of the following transactions in the Company's Ordinary 5p shares undertaken by directors / persons discharging managerial responsibility ('PDMRs') on 7 April 2020 in accordance with the rules of The Law Debenture Corporation p.l.c. Long-Term Incentive Plan.

Name	Status	Number of Ordinary Shares under LTIP Award	Option Price
Denis Jackson	Chief Executive Officer	70,210	£Nil
Katie Thorpe	Chief Financial Officer	51,847	£Nil

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 462.9 pence per share being the average of the closing share prices over the five Dealing Days preceding the date of grant.

The normal vesting date of the LTIP Awards will be 7 April 2023, being the third anniversary of the award date. Once vested, the LTIP Awards will normally be exercisable until the day before the tenth anniversary of the award date.  The LTIP Awards are subject to a two-year holding period commencing on vesting.

The LTIP Awards will normally vest after 3 years based on the compounded annual growth rate in the Earnings per Share (EPS) of the Independent Professional Services business measured over a 3 year period.  At 4% p.a. growth 25% of the LTIP Award will vest rising on a straight-line basis to 100% for 10% p.a. growth.  Under the LTIP Rules, the Remuneration Committee has full discretion to ensure that the final vesting outturn reflect all relevant factors, including consideration of any windfall gains.  

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Denis Jackson
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	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5p each
	Identification code	GB0031429219
b)	Nature of the transaction	Grant of nil cost option under The Law Debenture Corporation p.l.c. Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	70,210
d)	Aggregated information
	- Aggregated volume	70,210
	- Price	Nil consideration
e)	Date of the transaction	7 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Katie Thorpe
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	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5p each
	Identification code	GB0031429219
b)	Nature of the transaction	Grant of nil cost option under The Law Debenture Corporation p.l.c. Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	51,847
d)	Aggregated information
	- Aggregated volume	51,847
	- Price	Nil consideration
e)	Date of the transaction	7 April 2020
f)	Place of the transaction	Outside a trading venue

 

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