Director/PDMR Shareholding

RNS Number : 6873L

TClarke PLC

01 May 2020

 

TClarke plc
("the Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that on 1^st May 2020, the following Executive Directors of the Company were granted nil cost conditional share awards over ordinary shares of 10p each in Company ("Shares") pursuant to the TClarke plc Equity Incentive Plan ("the Plan") as follows:

Executive Director:	Number of conditional shares awarded:
Mark Lawrence	439,601
Mike Crowder	375,000
Trevor Mitchell	327,075

No consideration was paid for the grant of the conditional share awards.  The conditional share awards will normally vest on 1^st May 2023, being the third anniversary of the date of grant, and will be subject to continued employment with the Company.

50% of the award will be subject to satisfaction of the earnings per share performance condition as set out below:

Annual growth in EPS above RPI*	Proportion of award vesting
Less than 3%	Nil
3%	25%
Between 3% and 10%	Between 25% and 100% on a straight-line basis
Above 10%	100%

*Base point from which performance is measured is based on average underlying EPS for the three years ended 31^st December 2019.

50% of the award will be made on the basis of actions taken by the Executive Directors to enable TClarke to increase retained reserves for the year ended 31 December 2020 (excluding any impact from Pension Deficit Movements). In addition, TClarke must continue to trade within its normal banking facilities for the year without breaching any covenants. Achievement of this performance condition will be assessed by the Remuneration Committee in March 2021. For the shares to vest the Company must not breach any banking covenants for the remainder of the three year performance period.

Formal notifications in respect of the conditional share awards to the Executive Directors are below; 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mark Lawrence 2 Reaso n for thenotification a) Position/status Group Chief Executive Officer and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Equity Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 439,601 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2020-05-01 f) Place ofthetransaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mike Crowder 2 Reaso n for thenotification a) Position/status Group Managing Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Equity Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 375,000 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2020-05-01 f) Place ofthetransaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Trevor Mitchell 2 Reaso n for thenotification a) Position/status Group Finance Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Equity Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 327,075 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2020-05-01 f) Place ofthetransaction Outside a trading venue For further information contact: TClarke plc Mark Lawrence - Group Chief Executive Trevor Mitchell - Finance Director David Lanchester - Company Secretary Tel: [phone] www.tclarke.co.uk Cenkos Securities plc (Corporate Broker) Max Hartley (Corporate Finance) Nick Searle (Sales) Tel: [phone] www.cenkos.com RMS Partners Simon Courtenay Tel: [phone]

1^st May 2020

 

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