Director/PDMR Shareholding

RNS Number : 5394P

LSL Property Services PLC

20 June 2022

 

LSL Property Services plc (LSL)

Notification of Transactions by Directors, Persons Discharging Managerial Responsibility (PDMRs) or Connected Persons.

In accordance with DTR 3, LSL was notified that Helen Buck (Executive Director - Estate Agency) and Jon Round (PDMR) each undertook transactions in 0.2p ordinary shares in LSL on 15 and 16 June 2022, following the exercise of options received in 2019 pursuant to LSL's Save As You Earn option scheme (SAYE) and Long Term Incentive Plan (LTIP). The details of the exercises and transactions are set out  below.

2019 SAYE:

The 2019 SAYE is an all-employee scheme approved by HM Revenue and Customs. The 2019 SAYE exercise price for the options granted was £2.65 per ordinary share of 0.2p and the options became exercisable at the end of the three-year saving plan, on 1 June 2022.

2019 LTIP:

The 2019 LTIP grants were by way of nil-cost options in respect of ordinary shares of 0.2p and were subject to performance conditions. These options became exercisable on 29 March 2022.

Instructions have been given to sell a proportion of the vested shares in order to account for tax and NI arising on the vesting of the LTIP awards. The number of shares instructed to be sold on behalf of Helen and Jon is set out in the table below.

As an Executive Director, shares awarded to Helen under the LTIP (after any sale to cover tax and national insurance liabilities on exercise) are subject to a two-year post-vesting holding period in accordance with LSL's remuneration policy.

Following these transactions, Helen and Jon's respective total shareholding's in LSL are set out in the table below.

Details of Director or PDMR	Number of shares acquired	Number of shares sold (to account for tax and NI)	Total number of shares following transaction(s) (including shares held in LSL's SIP)
Helen Buck, Executive Director - Estate Agency	SAYE 2019: 2,037	-	103,765
	LTIP 2019: 138,685	67,117
Jon Round, PDMR (1)	SAYE 2019: 2,037	-	144,533
	LTIP 2019: 39,496	19,115

Note 1:

Due to a typographical error, Jon Round's total shareholding in LSL's announcement dated 17 June 2022 was incorrectly stated to be 112,115. The total shareholding should have been stated as 122,115. The total number of shares in the table above makes the necessary adjustment for that typographical error.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	Helen Buck
2	Reason for notification
a)	Position/Status	Executive Director - Estate Agency
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name	LSL Property Services plc
b)	LEI	213800T4VM5VR3C7S706
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Shares acquired by exercising options received pursuant to LSL's Save As You Earn scheme.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.65 2,037
d)	Aggregated information -  Aggregated volume -  Price	Not applicable
e)	Date of the transaction	15 June 2022
f)	Place of the transaction	Outside a trading venue
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Shares acquired by exercising options received pursuant to LSL Property Services plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 138,685
d)	Aggregated information -  Aggregated volume -  Price	Not applicable
e)	Date of the transaction	16 June 2022
f)	Place of the transaction	Outside a trading venue
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Immediate sale of ordinary shares to cover tax and national insurance liabilities following exercise of nil-cost options under the 2019 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) £3.42 67,117
d)	Aggregated information -  Aggregated volume Price	Not applicable
e)	Date of the transaction	16 June 2022
f)	Place of the transaction	Outside a trading venue

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	Jon Round
2	Reason for notification
a)	Position/Status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name	LSL Property Services plc
b)	LEI	213800T4VM5VR3C7S706
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Shares acquired by exercising options received pursuant to LSL's Save As You Earn scheme.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.65 2,037
d)	Aggregated information -  Aggregated volume -  Price	Not applicable
e)	Date of the transaction	15 June 2022
f)	Place of the transaction	Outside a trading venue
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Shares acquired by exercising options received pursuant to LSL Property Services plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 39,496
d)	Aggregated information -  Aggregated volume -  Price	Not applicable
e)	Date of the transaction	16 June 2022
f)	Place of the transaction	Outside a trading venue
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 0.2p each in LSL Property Services plc GB00B1G5HX72
b)	Nature of transaction	Immediate sale of ordinary shares to cover tax and national insurance liabilities following exercise of nil-cost options under the 2019 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) £3.42 19,115
d)	Aggregated information -  Aggregated volume Price	Not applicable
e)	Date of the transaction	16 June 2022
f)	Place of the transaction	Outside a trading venue

For further information, please contact:

Sapna B FitzGerald, Company Secretary

[e-mail]

 

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