Director/PDMR Shareholding

RNS Number : 7115S

Polar Capital Holdings PLC

10 July 2020

 

10 July 2020

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

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)/Persons Closely Associated (PCAs) in accordance with the Market Abuse Regulations.

Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 10 July 2020 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.

D irector / PDMR	Position	No. of shares under A ward
G avin Rochussen	Chief E xecutive Officer	211,475
John Mansell	E xecutive Director	70,844
Iain Evans	Global Head of Distribution	105,737
Alexander Black	Chief Investment Officer	105,737

Vesting of the Awards is subject to continued employment and performance based on the following measures:

-  40% of each Award will vest based on relative Total Shareholder Return (TSR) of the Company compared with the TSR performance of the constituents of the FTSE 250 index (excluding investment trusts) over a three-year performance period.

-  40% of each Award will vest based on achieving stretching targets for Core EPS in the 2022/23 financial year (as set out in the 2020 annual report).

-  20% of each Award will vest based on cumulative performance fee profits (PFP) earned over the three-year performance period. If cumulative PFP is less than £20m this part of an Award will not vest; if cumulative PFP is equal to £20m, 25% of this part an Award will vest and vesting will increase on a straight line basis to full vesting if cumulative PFP is equal to or exceeds £40m.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 211,475
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	10 July 2020
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 Notification
a)	Position/status	Executive Director
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 70,844
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	10 July 2020
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 Notification
a)	Position/status	Global Head of Distribution
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 105,737
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	10 July 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexander Black
2	Reason for Notification
a)	Position/status	Chief Investment Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 105,737
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	10 July 2020
f)	Place of the transaction	Outside a trading venue

Enquiries:

Polar Capital Holdings	Numis Securities Limited - Nomad and Joint Broker
Gavin Rochussen (CEO)	Charles Farquhar
John Mansell (Executive Director)	Stephen Westgate
Neil Taylor (Company Secretary)	Kevin Cruickshank (QE)
Tel:  [phone]	[phone]
	Peel Hunt LLP - Joint Broker
	Andrew Buchanan
	Rishi Shah
	Tel: [phone]

 

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