Director/PDMR Shareholding

RNS Number : 0237K

Reach PLC

16 December 2022

 

16 December 2022

Reach plc (the "Company")

Notification of Transactions by a Person Discharging Managerial Responsibilities ("PDMR")

Exercise of 2019 Award under the Reach Long-Term Incentive Plan 2012 ("LTIP") and sale of shares

On 4 December 2022, the award granted to the Chief Executive Officer, Mr. Jim Mullen, under the LTIP on 4 December 2019 vested and became exercisable. On 14 December 2022, Mr. Mullen exercised his LTIP award and a number of the vested shares have been sold to cover applicable withholding tax and other deductions arising on exercise (the 'sale'). That sale is ongoing, and a further announcement will be released once the sale has completed.

Once the sale has completed, the remaining shares will be subject to a two-year holding period from 4 December 2022 to 4 December 2024.

The notification below, which have been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim Mullen
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	Reach plc
b)	LEI	213800GNI5XF3XOATR61
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 10p Shares
	Identification code	GB0009039941
b)	Nature of the transaction	Exercise of award granted under the LTIP on 4 December 2019
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,013,951
d)	Aggregated information
	- Aggregated volume	1,013,951
	- Price	Nil
e)	Date of the transaction	2022-12-14
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	Ordinary 10p Shares
	Identification code	GB0009039941
b)	Nature of the transaction	Sale of shares to cover some of the applicable withholding tax and other deductions arising on exercise of the award under the LTIP (up to market close on 15 December)
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.986341	320,926
d)	Aggregated information
	- Aggregated volume	320,926
	- Price	£0. 986341
e)	Date of the transaction	2022-12-15
f)	Place of the transaction	XLON

Enquiries

Reach	020 7293 3000
Lorraine Clover, Group Company Secretary
Tulchan Communications	020 7353 4200
Giles Kernick  / David Allchurch
LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

 

END

 

 

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