Director/PDMR Shareholding

RNS Number : 6602F

Polar Capital Holdings PLC

19 July 2021

 

19 July 2021

Polar Capital Holdings plc ("Polar Capital" or the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

On 16 July 2018 Gavin Rochussen, John Mansell and Iain Evans were granted awards under the Long Term Incentive Plan ("LTIP"), as part of the Company's Equity Incentive Plan. Details of the original grant are contained in RNS No. 7916U.

The terms of the LTIP award provide for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and the achievement of an EPS performance condition by reference to the adjusted diluted total EPS for the year ended 31 March 2021.

The third anniversary of this award was on 16 July 2021.

The adjusted diluted total EPS for the 2020/21 financial year was 62.2p and as this exceeded the stretch target of 49p, the awards will vest in full.

A holding period will apply to the first two tranches of the awards, thereby creating a five year gap between the grant of the award and potential release or sale of any shares, except any sales required to cover tax and national insurance liabilities.

The following table provides details of the vesting of the awards:

Name	Title	2018 LTIP Award (100% vesting)	Shares vested on 16 July 2021 (1st Vesting Date)	Shares vested on 16 July 2022 (2nd Vesting Date)	Shares vested on 16 July 2023 (3rd Vesting Date)
Gavin Rochussen	Chief Executive Officer	233,918	77,972	77,972	77,974
John Mansell	Executive Director	131,578	43,859	43,859	43,860
Iain Evans	Global Head of Distribution	87,719	29,239	29,239	29,241

On each vesting date there will be a sale of sufficient shares to cover tax liabilities and the remaining shares will be retained under the holding period.  These awards have been satisfied by the release of shares from the Employee Benefit Trust to the participants, who have established nominee accounts with the EBT for the retention of the shares during the holding period.  

Details of the first vesting and sale of shares for each PDMR is provided below:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
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	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	77,972
d)	Aggregated information	Single transaction as in 4 c) above
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
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	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Sale of shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			879.11p	42,885
d)	Aggregated information	Single transaction as in 4 c) above
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	London Stock Exchange, AIM, XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Mansell
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	43,859
d)	Aggregated information	Single transaction as in 4 c) above
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Mansell
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Sale of shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			879.11p	24,122
d)	Aggregated information	Single transaction as in 4 c) above
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	London Stock Exchange, AIM, XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Iain Evans
2	Reason for the notification
a)	Position/status	Global Head of Distribution
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	29,239
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Iain Evans
2	Reason for the notification
a)	Position/status	Global Head of Distribution
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Sale of shares of the Company on vesting of one third of the 2018 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			879.11p	16,081
d)	Aggregated information	Single transaction as in 4 c) above
e)	Date of the transaction	16-07-2021
f)	Place of the transaction	London Stock Exchange, AIM, XLON

Enquiries:

Polar Capital [phone]

Gavin Rochussen (Chief Executive)

John Mansell (Executive Director) 

Samir Ayub (Finance Director)

Numis Securities Limited - Nomad and Joint Broker  [phone]

Charles Farquhar

Stephen Westgate

Kevin Cruickshank (QE)

Peel Hunt LLP - Joint Broker  [phone]

Andrew Buchanan

Rishi Shah

Camarco  [phone]

Ed Gascoigne-Pees

Jennifer Renwick

Monique Perks  

 

END

 

 

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