Long Term Incentive Plan

RNS Number : 1140M

Hornby PLC

26 July 2017

 

HORNBY PLC

Hornby Plc ("Hornby", the "Company"), the international models and collectibles group, announces that as a result of the mandatory unconditional cash offer made for the Company on 23 June 2017 by Phoenix UK Fund Ltd ("Phoenix") (the "Offer"), the Long Term Incentive Plan ("LTIP") announced in December 2016 was triggered, resulting in the vesting of the LTIP awards on the date on which the Offer became wholly unconditional.

Accordingly, certain awards have been made to participants of the LTIP as shown below:

PDMR	Number of shares in relation to which the LTIP award vested	Cash settlement amount determined by reference to 32.375 pence per share
Steve Cooke	222,543	£72,048
David Mulligan	62,312	£20,173
Red McKay	67,653	£21,902

Enquiries:

Hornby Plc	01843 233500
Steve Cooke, Chief Executive
David Mulligan, Group Finance Director
www.hornby.com
Numis Securities Limited	020 7260 1000
Oliver Cardigan (Nomad) Paul Gillam
Tom Ballard
Capital Access Group	020 3763 3400
Scott Fulton

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Cooke
2	Reason for Notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hornby Plc
b)	LEI	549300WP2GJODSTKY488
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	Cash settlement of a right to otherwise receive 222,543 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016 N/A
b)	Nature of the transaction	Cash settlement of a right to otherwise receive 222,543 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.3237 222,543
d)	Aggregated information -          Aggregated volume -          Price	222,543 £72,048
e)	Date of the transaction	21 July 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Mulligan
2	Reason for Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hornby Plc
b)	LEI	549300WP2GJODSTKY488
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	Cash settlement of a right to otherwise receive 62,312 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016 N/A
b)	Nature of the transaction	Cash settlement of a right to otherwise receive 62,312 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.3237 62,312
d)	Aggregated information -          Aggregated volume -          Price	62,312 £20,173
e)	Date of the transaction	21 July 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Red McKay
2	Reason for Notification
a)	Position/status	Supply Chain Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hornby Plc
b)	LEI	549300WP2GJODSTKY488
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	Cash settlement of a right to otherwise receive 67,653 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016 N/A
b)	Nature of the transaction	Cash settlement of a right to otherwise receive 67,653 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.3237 67,653
d)	Aggregated information -          Aggregated volume -          Price	67,653 £21,902
e)	Date of the transaction	21 July 2017
f)	Place of the transaction	Outside a trading venue

 

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