Director/PDMR Shareholding

RNS Number : 8226D

Law Debenture Corp PLC

30 October 2020

 

30 October 2020 

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

Correction - Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs") made on 20 April 2020

The Corporation's announcement made on 20 April 2020 regarding the number of shares awarded to Denis Jackson (1) under the Deferred Share Bonus Plan on 13 March 2020 and (2) from the reinvestment of dividends on 16 April 2020 that were due on the shares held in trust, is hereby amended to reflect that Denis Jackson was awarded (1) 16,294 ordinary shares (instead of the 16,278 ordinary shares previously announced) and (2) 1,358 ordinary shares (instead of the 1,357 ordinary shares previously announced).

Notification of Transactions by a PDMR on 28 October 2020

The Corporation announced on 28 October 2020 that shares had been purchased by a subsidiary undertaking to reinvest dividends received from shares held in trust under a Deferred Share Bonus Plan for senior staff.  The following transaction in the Company's Ordinary 5p shares was undertaken by a director / person discharging managerial responsibility ('PDMRs') as a result of this dividend reinvestment.

In line with the Corporation's Remuneration Policy in place during the year to 31 December 2019, a third of the bonus earned by the Executive Directors was required to be deferred for three years. In accordance with that policy, 16,294 shares for Denis Jackson were granted under the Deferred Share Bonus Plan on 13 March 2020 at an average price of 587.19 pence per share.

As set out in the Corporation's Remuneration Policy approved by shareholders on 7 April 2020, in future half of any bonus earned by the Executive Directors above £100,000 will be deferred in shares for three years with enhanced malus and clawback provisions applying. 

The shares are held in trust and no consideration is payable on the grant or vesting of the award.  The number of shares to which each award relates is increased by the reinvestment of dividends due on the shares held in trust. 

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	LWDB ISIN number GB0031429219 SEDOL 3142921
b)	Nature of the transaction	484 shares purchased following dividend reinvestment on awards granted under the Deferred Share Bonus Plan. The resultant total shares under the Deferred Share Bonus Plan held by Denis Jackson as at 28 October 2020 is 38,290
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	484
d)	Aggregated information
	- Aggregated volume	484
	- Price	Nil consideration
e)	Date of the transaction	28 October 2020
f)	Place of the transaction	Outside a trading venue

 

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