Director/PDMR Shareholding

Serco Group PLC

10 May 2023

 

10 May 2023

Serco Group plc ('Serco' or 'the Company')

Legal Entity Identifier: 549300PT2CIHYN5GWJ21

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2p EACH IN THE COMPANY ('Ordinary Shares')

On 5 May 2023, conditional share awards ('CSAs') granted on 6 October 2020 under the 2019 Serco Deferred Bonus Plan ('DBP') vested. 

On 5 May 2023, Mark Irwin exercised nominal-cost options, granted under the 2009 Serco Performance Share Plan and, on the same date sold 527,383 Ordinary Shares at an average price of 150.8006p. The sale was made to cover Australian tax obligations related to the historic vesting of share awards during Mark's tenure as Chief Executive Officer of Serco Asia Pacific. Following this share sale, Mark's outright Serco share ownership remains in excess of the Group Remuneration Policy guideline of 200% of salary.

A summary of the Ordinary Shares acquired, sold, and retained in respect of the vesting CSAs and exercised nominal-cost options is set out below.

Vesting CSAs

PDMR	Number of Ordinary Shares acquired	Number of Ordinary Shares sold	Number of Ordinary Shares retained	Number of Ordinary Shares transferred to Spouse
Mark Irwin, Group Chief Executive	223,380	105,3591	118,021	-
David Eveleigh, Group General Counsel and Company Secretary	233,012	124,000	-	109,012
Anthony Kirby, CEO UK & Europe	156,882	156,882	-	-

1.     Sold to satisfy tax liabilities and associated dealing costs

Exercised nominal-cost options

PDMR	Grant date of award	Vest date of award	Number of Ordinary Shares acquired	Ordinary Shares sold	Number of Ordinary Shares retained
Mark Irwin, Group Chief Executive	6 April 2017	6 April 2020	116,809	116,809	-
	25 June 2018	25 June 2021	410,574	410,574	-

The price for the disposal of the Shares was £1.508006 per Share.

This announcement is made in accordance with the requirements of the EU Market Abuse Regulation 596/2014.   The notification of dealing forms can be found below.

Transaction notification

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Irwin
2	Reason for the notification
a)	Position/status	Group 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	Serco Group plc
b)	LEI	549300PT2CIHYN5GWJ21
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	223,380
d)	Aggregated information
	- Aggregated volume	223,380
	- Price	N/A
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	N/A
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The automatic sale of Ordinary Shares to satisfy tax liabilities following the vesting of conditional share awards.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£ 1.508006	105,359
d)	Aggregated information
	- Aggregated volume	105,359
	- Price	£158,882.00
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	London Stock Exchange (XLON)
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 pence each ('Ordinary Shares')
	Identification code		ISIN: GB0007973794
b)	Nature of the transaction		The exercise of nominal-cost options over Ordinary Shares granted on 6 April 2017 and 25 June 2018 under the Company's 2009 Performance Share Plan.
c)	Price(s) and volume(s)		Price(s) Volume(s) £0.02 116,809 £0.02 410,574
d)	Aggregated information
	- Aggregated volume		527,383
	- Price		£10,547.66
e)	Date of the transaction		5 May 2023
f)	Place of the transaction		N/A
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 pence each ('Ordinary Shares')
	Identification code		ISIN: GB0007973794
b)	Nature of the transaction		The sale of Ordinary Shares following the exercise of nominal-cost options over Ordinary Shares on 5 May 2023 under the Company's 2009 Performance Share Plan.
c)	Price(s) and volume(s)		Price(s) Volume(s) £1.508006 527,383
d)	Aggregated information
	- Aggregated volume		527,383
	- Price		£795,296.73
e)	Date of the transaction		5 May 2023
f)	Place of the transaction		London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Eveleigh
2	Reason for the notification
a)	Position/status	Group General Counsel and Company Secretary
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Serco Group plc
b)	LEI	549300PT2CIHYN5GWJ21
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	233,012
d)	Aggregated information
	- Aggregated volume	233,012
	- Price	N/A
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	N/A
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The sale of Ordinary Shares following the vesting of conditional share awards granted on 6 October 2020 under the Company's 2019 Deferred Bonus Plan.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£ 1.508006	124,000
d)	Aggregated information
	- Aggregated volume	124,000
	- Price	£186,992.74
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	London Stock Exchange (XLON)
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 pence each ('Ordinary Shares')
	Identification code		ISIN: GB0007973794
b)	Nature of the transaction		The transfer of 109,012 Ordinary Shares to Spouse for nil consideration. No change in beneficial ownership.
c)	Price(s) and volume(s)		Price(s) Volume(s) £0.00 109,012
d)	Aggregated information
	- Aggregated volume		109,012
	- Price		£0.00
e)	Date of the transaction		5 May 2023
f)	Place of the transaction		N/A

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Katharine Eveleigh
2	Reason for the notification
a)	Position/status	PCA of David Eveleigh (Group General Counsel & Company Secretary)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Serco Group plc
b)	LEI	549300PT2CIHYN5GWJ21
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	Receipt of Ordinary Shares from spouse for nil consideration.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	109,012
d)	Aggregated information
	- Aggregated volume	109,012
	- Price	£0.00
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Anthony Kirby
2	Reason for the notification
a)	Position/status	CEO UK & Europe
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Serco Group plc
b)	LEI	549300PT2CIHYN5GWJ21
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	156,882
d)	Aggregated information
	- Aggregated volume	156,882
	- Price	N/A
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	N/A
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 pence each ('Ordinary Shares')
	Identification code	ISIN: GB0007973794
b)	Nature of the transaction	The sale of Ordinary Shares following the vesting of conditional share awards granted on 6 October 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£ 1.508006	156,882
d)	Aggregated information
	- Aggregated volume	156,882
	- Price	£236,579.00
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	London Stock Exchange (XLON)

 

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