Director/PDMR Shareholding

RNS Number : 3220G

RIT Capital Partners PLC

03 March 2015

 

Director/PDMR shareholding

Lord Rothschild

Lord Rothschild, a director of RIT Capital Partners plc ('RIT' or the 'Company'), has advised the Company of the following transaction relating to the £1 ordinary shares of the Company ('Shares') and the grants of deferred shares and Share Appreciation Rights:

1.    Transfer of RIT £1 ordinary shares

On 2 March 2015 Lord Rothschild transferred 500,000 Shares (0.32% of issued share capital) to a Rothschild family charity of which he is the Patron and Chairman of the Board of Trustees.

Following this transfer, Lord Rothschild's interests in the Company comprise the following:

10,332,181 Shares (6.65% of issued) held beneficially.

17,863,909 Shares (11.50% of issued) held non-beneficially.

2.    Deferred share award

On 2 March 2015 Lord Rothschild was granted a conditional award under the Company's deferred bonus arrangements over 39,422 Shares.  The award was made at 1,522 pence per Share and will vest in three equal tranches on 2 March 2016, 2 March 2017 and on 2 March 2018 subject to continued service.  No payment was required for the grant of the award and no payment is due in connection with the vesting of the award.

3.    Share Appreciation Rights ('SARs')

On 2 March 2015 Lord Rothschild was granted SARs over 78,843 Shares under the terms of the J Rothschild Capital Management Share Appreciation Rights Plan, at a notional exercise price of 1,522 pence.  These SARs will be exercisable between 2 March 2018 and 1 March 2025, conditional upon the performance condition being achieved in the three year vesting period ending on 2 March 2018 and subject to continued service.

SARs entitle the holder to a payment, settled in Shares, between the third and tenth anniversary of the date of grant. The payment will amount to the increase since the date of grant in the RIT share price multiplied by the notional number of Shares, subject to the satisfaction of the performance condition. This is calculated by reference to the RIT share price total return, which must exceed RPI plus three percentage points per annum. No payment was required for the grant of the award.

Hannah Rothschild

Following the transfer of Shares set out in paragraph 1 above, Hannah Rothschild has notified the Company that her beneficial and non-beneficial interests in the Company are now:

14,231,250 Shares (9.16% of issued) held beneficially.

13,476,839 Shares (8.68% of issued) held non-beneficially.

The majority of total interests disclosed for Lord Rothschild and Hannah Rothschild above are in respect of the same Shares, in cases where they are held in family charitable foundations, companies or trusts.

Each of the above disclosures is in accordance with Disclosure Rule and Transparency Rule 3.1.   Each of the above transactions took place in the United Kingdom on 2 March 2015, the same date as the Company was notified of the transactions.

 

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