Director/PDMR Shareholding

RNS Number : 2155V

TP ICAP Group plc

03 April 2023

 

TP ICAP Group plc

LEI: 2138006YAA7IRVKKGE63

3 April 2023

TP ICAP Group plc (the 'Company' or 'TP ICAP')

Notification of transactions by persons discharging managerial responsibilities ('PDMRs')

On 31 March 2023 the Company received the following notifications relating to the:

· vesting of awards granted on 30 March 2020 over ordinary shares of 25p each of the Company (the "Company Shares") under the rules of the TP ICAP plc Deferred Bonus Plan 2019 (the "2019DBSPlan");

· grant of awards over the Company Shares under the rules of the TP ICAP Group plcDeferred Bonus Share and Cash Plan 2023 (the "2023 DBS Plan"); and

· grant of awards over the Company Shares under the rules of the TP ICAP Group plc Restricted Share Plan (the "RSP").

Vesting of awards

Following the vestings, a total of 500,706 Company Shares were released by the TP ICAP Employee Benefit Trust ("EBT") to the PDMRs named in the table below, who then elected to sell a number of shares to settle the income tax and national insurance ("NI") liabilities and dealing charges arising upon the vesting of the awards. The table sets out the number of Company Shares released to each PDMR, the number subsequently sold to discharge the income tax, NI liability and dealing charges incurred as a result of their awards vesting, and the number retained by each PDMR.

PDMR	Nicolas Breteau	Philip Price	Robin Stewart
Title	Chief Executive Officer	Group General Counsel	Chief Financial Officer
2019 DBS Plan
Company Shares Released	247,397	128,719	124,590
Company Shares sold to discharge tax and NI liabilities and dealing charges	116,569	60,651	58,705
Sale price per Company Share (£)	1.797807	1.797807	1.797807
Company Shares Retained	130,828	68,068	65,885

Grant of awards

In relation to the 2023 DBS Plan, the number of Company Shares that will vest in tranches on the Normal Vesting Dates are subject to the Rules of the applicable Plan. The Normal Vesting Dates are 31 March 2024, 31 March 2025, and 31 March 2026.

The 2023 RSP award will vest on the third anniversary of the date of grant and a further two-year holding period will apply. The PDMRs listed below will not be permitted to sell any shares during this time. Any portion of the award that does not meet the vesting conditions will lapse.

The number of awards granted was calculated using a share price of £1.7950, based on the volume-weighted average price for the five trading days preceding and including the date of grant, being 31 March 2023.

PDMR	Title	Number of shares	Share price	Nature of Transaction
Nicolas Breteau	Chief Executive Officer	324,338	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023.
		546,657	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.
Philip Price	Group General Counsel	155,458	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023.
		330,779	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.
Robin Stewart	Chief Financial Officer	149,896	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan 2023.
		323,816	£ 1.7950	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.

Notifications

The following notifications are made in accordance with the requirements of the UK Market Abuse Regulation and provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicolas Breteau
2	Reason for the notification
a)	Position/status	Director and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TP ICAP Group plc
b)	LEI	2138006YAA7IRVKKGE63
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
Transaction 1
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 247,397
d)	Aggregated information - Aggregated volume - Price	247,397 £nil
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	Outside a trading venue
Transaction 2
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.797807 116,569
d)	Aggregated information - Aggregated volume - Price	116,569 1.797807
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	London Stock Exchange
Transaction 3
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share a nd Cash Plan 2023.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 324,338
d)	Aggregated information - Aggregated volume - Price	324,338 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue
Transaction 4
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 546,657
d)	Aggregated information - Aggregated volume - Price	546,657 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip Price
2	Reason for the notification
a)	Position/status	Director and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TP ICAP Group plc
b)	LEI	2138006YAA7IRVKKGE63
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
Transaction 1
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 128,719
d)	Aggregated information - Aggregated volume - Price	128,719 £nil
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	Outside a trading venue
Transaction 2
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.797807 60,651
d)	Aggregated information - Aggregated volume - Price	60,651 1.797807
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	London Stock Exchange
Transaction 3
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share and Cash Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 155,458
d)	Aggregated information - Aggregated volume - Price	155,458 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue
Transaction 4
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 330,779
d)	Aggregated information - Aggregated volume - Price	330,779 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robin Stewart
2	Reason for the notification
a)	Position/status	Director and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TP ICAP Group plc
b)	LEI	2138006YAA7IRVKKGE63
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
Transaction 1
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Transfer of ordinary shares of 25p each in TP ICAP Group plc from the TP ICAP Employee Benefit Trust to the PDMR following the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 124,590
d)	Aggregated information - Aggregated volume - Price	124,590 £nil
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	Outside a trading venue
Transaction 2
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Sale of ordinary shares of 25p each in TP ICAP Group plc to meet the income tax and national insurance liabilities and dealing charges arising upon the vesting of the TP ICAP plc Deferred Bonus Plan 2019 award.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.797807 58,705
d)	Aggregated information - Aggregated volume - Price	58,705 1.797807
e)	Date of the transaction	30 March 2023
f)	Place of the transaction	London Stock Exchange
Transaction 3
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Deferred Bonus Share a nd Cash Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 149,896
d)	Aggregated information - Aggregated volume - Price	149,896 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue
Transaction 4
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 25p each JE00BMDZN391
b)	Nature of the transaction	Award over ordinary shares of TP ICAP Group plc under the TP ICAP Group plc Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £ 1.7950 323,816
d)	Aggregated information - Aggregated volume - Price	323,816 £ 1.7950
e)	Date of the transaction	31 March 2023
f)	Place of the transaction	Outside of trading venue

Enquiries

Vicky Hart

Group Company Secretary

[phone]

[e-mail]

 

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