Director/PDMR Shareholding

RNS Number : 7329E

Law Debenture Corp PLC

14 March 2022

 

14 March 2022 

The Law Debenture Corporation p.l.c.

Notification of Transactions by Persons Discharging Managerial Responsibility

The Law Debenture Corporation p.l.c. (the "Corporation") announced on 28 February 2022 that shares had been purchased by a subsidiary undertaking in connection with the Corporation's Deferred Share Bonus Plan (the "Plan") for senior staff. The transactions, set out below, in the Corporation's Ordinary 5 pence shares were undertaken by directors / persons discharging managerial responsibility ("PDMRs") following the purchase.

Disposal of shares

In accordance with the Plan, deferred shares awarded to Denis Jackson on 11 March 2019, including additional shares accrued over the three-year vesting period as a result of the reinvestment of corresponding dividends, vested on 11 March 2022 in the amount of 18,532 ordinary shares (the "vested shares"). To cover related tax liabilities, Denis Jackson has disposed of 8,339 (45%) of the vested shares at 757 pence per share, being the Corporation's share price at market close on 10 March 2022. Denis Jackson will hold the remaining 10,193 ordinary shares on his own account.

Acquisition of shares

As set out in the Corporation's Remuneration Policy approved by shareholders on 7 April 2020, 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. In accordance with that policy, 11,029 deferred share awards for Denis Jackson and 6,774 deferred share awards for Trish Houston, both Executive Directors, were granted under the Plan on 14 March 2022 at an average price of 799.1 pence per share (the "awards"). 

The awards granted under the Plan are held in trust and no consideration is payable on the grant or vesting of the awards. 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 UK's retained EU law version of the Market Abuse Regulation (596/2014).

1	Details of the person discharging managerial responsibilities
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	Disposal of shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			757	8,339
d)	Aggregated information
	- Aggregated volume	8,339
	- Price	63,126.23
e)	Date of the transaction	11 March 2022
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities
a)	Name	Trish Houston
2	Reason for the notification
a)	Position/status	Chief Operating 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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	6,774 deferred share awards granted under the Corporation's Deferred Share Bonus Plan. The resultant total shares under the Deferred Share Bonus Plan held by Trish Houston as at 14 March 2022 is 6,774.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	6,774
d)	Aggregated information
	- Aggregated volume	6,774
	- Price	Nil consideration
e)	Date of the transaction	14 March 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	11,029 deferred share awards granted under the Corporation's Deferred Share Bonus Plan. The resultant total shares under the Deferred Share Bonus Plan held by Denis Jackson as at 14 March 2022 is 42,079.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	11,029
d)	Aggregated information
	- Aggregated volume	11,029
	- Price	Nil consideration
e)	Date of the transaction	14 March 2022
f)	Place of the transaction	Outside a trading venue

 

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