Director/PDMR Shareholding

RNS Number : 1705W

Reach PLC

14 April 2023

 

14 April 2023

Reach plc (the "Company")

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

Grant of 2023 Awards under the Reach Long Term Incentive Plan ("LTIP")

On 13 April 2023, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors and PDMRs under the LTIP and the following additional terms.

The number of shares under the LTIP options has been calculated using the three-month average share price to the date of grant of £0.848 per share.  

Vesting of the LTIP options granted in 2023 are subject to the achievement of performance conditions over a three-year period, as set out on page 136 in the Company's 2022 Annual Report.  

Vested LTIP options held by a Director will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability).

The notifications below, which has 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	Grant of nil-cost share options under the Reach Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 1,040,970
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	2023-04-13
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Darren Fisher
2	Reason for the notification
a)	Position/status	Chief Financial 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	Grant of nil-cost share options under the Reach Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 582,708
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	2023-04-13
f)	Place of the transaction	Outside a trading venue

Enquiries

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

 

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