Director/PDMR Shareholding

RNS Number : 1508N
National Express Group PLC
04 August 2017
 

 

NATIONAL EXPRESS GROUP PLC

 ("Company")

 

Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

 

Following receipt of notification today from Dean Finch, a PDMR, the Company provides onward notification of the following transactions effected by him on 3 August 2017 relating to his interests in the Ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transactions arise from: (i) the exercise of a nil cost option award over certain performance-conditioned Shares which vested on 3 August 2017 - the original awards having been granted on 3 August 2012 under the Company's 2005 Long-Term Incentive Plan, as amended ("LTIP"), and (ii) the immediate sale on the London Stock Exchange of all the Shares acquired under (i) above, both as shown below.

 

Name and position of PDMR

Number of Shares acquired on exercise of LTIP option ¹       

Number of Shares immediately sold in the market at 367.3368p               per Share

 

 

Total beneficial interest in Shares following the transaction (including those held by connected persons)

 

Total remaining interest in Shares following the transaction under the Company's deferred bonus and long-term incentive plans

 

Dean Finch, Group Chief Executive

 

 

130,703

 

130,7031

 

137,598

 

1,604,277

                                                                                               

¹ Malus and clawback provisions did not apply to the original awards. All Shares delivered to the PDMR on exercise of the option are satisfied through the transfer of market purchased Shares from the Company's Employee Benefit Trust.

 

The stretching performance targets which attached to the original award - comprising Earnings Per Share ("EPS") and Total Shareholder Return ("TSR"), each as applied to 50% of the award - were set at the time of grant and related to the five-year financial period ended 31 December 2016. These targets, and the Company's measured performance against them, are set out in the Directors' Remuneration Report of the Company's 2016 Annual Report and, as disclosed therein, resulted in the full vesting of the EPS element only (as above).

 

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

1.            

Details of PDMR

 


Full Name

Dean Finch


Position / status

Group Chief Executive


Initial notification / amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

 

 

 

 

Name

National Express Group PLC

LEI

213800A8IQEMY8PA5X34 

3.

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

 (i)

Description of the financial instrument

 

Identification code

Ordinary shares of nominal value 5p each

 

 

GB0006215205


Nature of the transaction

Acquisition

 

The exercise, post-performance conditioned vesting, of a nil cost option to acquire 130,703 Ordinary shares under the Company's Long-Term Incentive Plan 2005, as amended.


Price(s) and volume(s)

Price(s)

Volume(s)

Nil per Ordinary share

130,703 Ordinary shares


Aggregated information

 

Aggregated volume Price

130,703 Ordinary shares at £ Nil per Ordinary share

 

 

Total £ Nil


Date of the transaction

3 August 2017


Place of the transaction

N/A

(ii)

Description of the financial instrument

 

Identification code

Ordinary shares of nominal value 5p each

 

 

GB0006215205

 


Nature of the transaction

Disposal

 

The sale of 130,703 Ordinary shares in the market

 


Price(s) and volume(s)

Price(s)

Volume(s)

£3.673368 per Ordinary share

130,703


Aggregated information

 

Aggregated volume Price (gross)

130,703 Ordinary shares at £3.6733.68 per Ordinary share

 

 

Total £480,120.22

 


Date of the transaction

3 August 2017


Place of the transaction

London Stock Exchange

 

-     END    -

 

National Express contact and telephone number for enquiries:

 

Michael Arnaouti, Company Secretary

++44 (0) 207 805 3807

 

 

 


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

Companies

Mobico Group (MCG)
UK 100