Notification of Transactions of Directors

Severfield PLC

09 October 2023

 

9^th October 2023

Severfield plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification relates to the vesting and exercise of nil cost share options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28^th June 2019 and 5^th October 2020. These options vested on 28^th June 2022 and 5^th October 2023 respectively and were exercised and settled as set out below.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment.  This only applied to directors who already satisfy the Company's shareholding requirement.  In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.

2019 DSBP

Name	Number of shares awarded on 28th June 2019	Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment	Cash paid to settle tax calculated at a share price of £0.61	Cash to be paid to participant after tax calculated at a share price of £0.61	Shares retained by individual
Alan Dunsmore	50,724	57,884	£16,595	n/a	30,678

2020 DSBP

Name	Number of shares awarded on 5 October 2020	Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment	Cash paid to settle tax calculated at a share price of £0.61	Cash to be paid to participant after tax calculated at a share price of £0.61	Shares retained by individual
Alan Dunsmore	194,314	222,158	£63,693	£71,823	0
Derek Randall	164,474	188,042	£30,425	£84,280	0
Adam Semple	127,410	145,667	£41,763	n/a	77,203

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alan Dunsmore
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Severfield plc
b)	LEI	21380025AWPR781CY104
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 Identification code	Ordinary shares of 2.5p GB00B27YGJ97
b)	Nature of the transaction	1.   Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment. 2.   Exercise of DSBP award and settlement of that exercise with a cash payment.
c)	Price(s) and volume(s)	1. Price Volume Total Share settlement £0.00 30,678 £0 Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) 27,206 £16,595 2.   Price Volume Total £0.61(price per share paid to settle the exercise of the DSBP award) 222,158 £135,516
d)	Aggregated information - Aggregated volume - Price	Not applicable-single transaction
e)	Date of the transaction	2023-10-05
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Derek Randall
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Severfield plc
b)	LEI	21380025AWPR781CY104
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 Identification code	Ordinary shares of 2.5p GB00B27YGJ97
b)	Nature of the transaction	Exercise of DSBP award and settlement of that exercise with a cash payment.
c)	Price(s) and volume(s)	Price Volume Total £0.61 (price per share paid to settle the exercise of the DSBP award) 188,042 £114,705
d)	Aggregated information - Aggregated volume - Price	Not applicable-single transaction
e)	Date of the transaction	2023-10-05
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Adam Semple
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Severfield plc
b)	LEI	21380025AWPR781CY104
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 Identification code	Ordinary shares of 2.5p GB00B27YGJ97
b)	Nature of the transaction	Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.
c)	Price(s) and volume(s)	Price Volume Total Share settlement £0.00 77,203 £0 Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) 68,464 £41,763
d)	Aggregated information - Aggregated volume - Price	Not applicable-single transaction
e)	Date of the transaction	2023-10-05
f)	Place of the transaction	Outside a trading venue

 

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