Director/PDMR Shareholding

RNS Number : 6457W

Secure Trust Bank PLC

27 April 2021

 

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

27 April 2021

For immediate release

Secure Trust Bank PLC (the "Company")

Grant of awards under the Company's 2017 Long Term Incentive Plan ("LTIP")

On 26 April 2021 the Company granted options over ordinary shares ("Ordinary Shares") under the LTIP to the following PDMRs:

PDMR	Number of Ordinary Shares over which options granted	Exercise price
David McCreadie	55,319	£0.40 per Ordinary Share
Rachel Lawrence	34,723	£0.40 per Ordinary Share
David Nield	14,948	£0.40 per Ordinary Share
Jon Bowers	10,622	£0.40 per Ordinary Share
Nick Davies	15,085	£0.40 per Ordinary Share
Nick Shepherd	7,780	£0.40 per Ordinary Share
John Bevan	14,323	£0.40 per Ordinary Share

The number of shares under each option was set by reference to a value per Ordinary Share of £11.75. £11.75 is the average mid-market price determined between 21 and 23 April 2021.

Each option has been granted subject to performance conditions based on sliding scale measures of: (1) the Company's total shareholder return over the performance period (see below) relative to the total shareholder return of a group of eight comparator companies over the same period; (2) the Company's total shareholder return over the performance period relative to the total shareholder return performance of the current constituent companies of the FTSE Small Cap Index (excluding investment trusts) over the same period ; (3) the compound annual rate of growth of the Company's total shareholder return over the performance period (10% p.a. for threshold vesting, to 30% p.a. for full vesting of this element); and (4) an assessment of the Company's approach to risk management over the performance period.

The performance conditions also include an underpin measure in respect of the total shareholder return elements, which includes an assessment of general financial performance, shareholder experience and risk management performance.

The performance period in each case is a period of three years starting on 1 January 2021 and ending with 31 December 2023.

Each of the four performance conditions noted above accounts for 25% of the option.

Each option will, ordinarily, vest on the date on which the Company's Remuneration Committee of the Board of Directors, determines the extent to which the performance conditions have been satisfied.  Each option will be released so that the participant is entitled to exercise the vested Ordinary Shares on the vesting date except in the case of Rachel Lawrence and David McCreadie when the date of release will be at the end of a holding period which shall end on the second anniversary of the vesting date. 

In accordance with the terms of the options, the exercise price payable may be waived before exercise.

 The Company further granted options over Ordinary Shares without performance conditions but subject only to the participant's continued service through to the applicable vesting date, but with discretion retained for the Remuneration Committee to potentially reduce the award on settlement if it considers appropriate to do so under the LTIP plan to the following PDMRs:

PDMR	Number of Ordinary Shares over which award granted	Exercise price
Chris Harper	6,638	£0.40 per Ordinary Share
Paul Kilbride	1,809	£0.40 per Ordinary Share

The number of shares under each award was set by reference to a value per Ordinary Share of £11.75. £11.75 is the average mid-market price determined between 21 and 23 April 2021. 

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David McCreadie
2.	Reason for the notification
a)	Positio n/ status	Director/PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 55,319
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Rachel Lawrence
2.	Reason for the notification
a)	Positio n/ status	Director/PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 34,723
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David Neild
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 14,948
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Jon Bowers
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 10,622
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Nick Davies
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 15,085
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Nick Shepherd
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 7,780
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	John Bevan
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 14,323
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Chris Harper
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost restricted stock option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 6,638
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Paul Kilbride
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost restricted stock option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,809
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	26 April 2021
g)	Place of the transaction	Outside a trading venue

Mark Stevens

Company Secretary

Secure Trust Bank PLC

[phone]

 

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