Director/PDMR Shareholding

RNS Number : 3178D
SIG PLC
25 April 2017
 

SIG plc

 

DIRECTOR/PDMR Shareholding

 

Notification and public disclosure of LTIP Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons

 

SIG plc confirms that an allocation was granted under the terms of the SIG plc 2014 Long Term Incentive Plan ("LTIP") to Executive Directors as set out below.  The awards were granted on 24 April 2017 and the ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the LTIP, and are then subject to a further two-year holding period.  The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.

Name                             Status                          No. of shares subject to allocation

Meinie Oldersma             Director                        954,003

Group Chief Executive

           

Nick Maddock                 Director                        459,965

Chief Financial Officer

 

Following this award, total holding and interests in ordinary shares in SIG plc are:

 

Name

Total holdings of

ordinary shares

Percentage of current

issued share capital

Total interest in

ordinary shares

Meinie Oldersma

Nil

Nil

954,003

Nick Maddock

Nil

Nil

459,965

 

This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.           

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Meinie Oldersma

2

Reason for the notification

a)

Position/status

PDMR (Chief Executive Officer)

b)

Initial notification/Amendment

This is an initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

SIG plc

b)

LEI

213800VDC1BKJEZ8PV53

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 10p

 

ISIN:  GB0008025412

b)

Nature of the transaction

Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares.  Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period

c)

Price(s) and volume(s)

Price(s)

Volume(s)



GBP Nil

954,003

d)

Aggregated information

-     Aggregated volume

-     Price

 

Aggregated volume:  954,003

GBP Nil

e)

Date of the transaction

2017-04-24

f)

Place of the transaction

XLON

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nick Maddock

2

Reason for the notification

a)

Position/status

PDMR (Chief Financial Officer)

b)

Initial notification/Amendment

This is an initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

SIG plc

b)

LEI

213800VDC1BKJEZ8PV53

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 10p

 

ISIN:  GB0008025412

b)

Nature of the transaction

Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares.  Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period

c)

Price(s) and volume(s)

Price(s)

Volume(s)



GBP Nil

459,965

d)

Aggregated information

-     Aggregated volume

-     Price

 

Aggregated volume:  459,965

GBP Nil

e)

Date of the transaction

2017-04-24

f)

Place of the transaction

XLON

 

Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 24 April 2020.

 

The performance conditions subject to which the options have been granted are as follows:

 

An Award shall be subject to two performance targets in accordance with this Schedule.

 

1.            Two-thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche").  The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.

 

Average Return on Capital Employed (ROCE) for FY2017-2019

% of  ROCE Tranche vesting

10% or less

Nil

Above 10% but less than 13.5%

Between 0% and 100% on a
straight-line basis

13.5% and above

100%

 

2.            One-third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche").  The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.

 

Cumulative Underlying EPS for
FY2017-2019

% of  EPS Tranche vesting

Less than 31 pence

Nil

31 pence to 38 pence

Between 0% and 100% on a
straight-line basis

Above 38 pence

100%

 

 

R C Monro

Company Secretary                   0114 285 6355


This information is provided by RNS
The company news service from the London Stock Exchange
 
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