Director/PDMR Shareholding

International Distributions Svc PLC

12 February 2024

 

International Distributions Services plc                                  

(Incorporated in England and Wales)

Company Number: 8680755

LSE Share Code: IDS

ISIN: GB00BDVZYZ77

LEI: 213800TCZZU84G8Z2M70

12 February 2024

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

International Distributions Services plc ("IDS" or the "Company") announces that on 9 February 2024, a Director / Person Discharging Managerial Responsibility (PDMR) was granted a share award under the IDS Long-Term Incentive Plan (LTIP)

The LTIP is designed to incentivise PDMRs to deliver the key long-term priorities relevant for their role, aligned to shareholder and stakeholder interests. Whilst conditional shares are granted now, they are only actually received by the PDMRs if and to the extent the Company achieves, over the next three years, the stretching performance conditions provided for in the LTIP.

The metrics against which the LTIP will be assessed after three years, are below. More information on LTIP performance will be referenced in the Company's 2026 Annual Report and Accounts (ARA).

 

Group Scorecard metrics	Weighting	Threshold (25% Vesting)	Maximum (100% Vesting)
Relative Total Shareholder Return (TSR)	40%	Median	Top Quartile
UK Operating Profit (in 2025-26) (£m)	20%	83	93
UK Trading Cashflow (in 2025-26) (£m)	10%	140	158
GLS EBITA (in 2025-26) (€m)	20%	391	450
GLS Free Cashflow (in 2025-26) (€m)	10%	256	294

Michael Snape, who was appointed as Group CFO in January 2024, is entitled to a pro-rated grant of conditional shares under the 2023 LTIP, details of which are set out in the notification of dealing form below. If the conditions are met, the earliest release date for the shares will be 31 July 2026. If the conditions are not met or only partly met, then the conditional shares will lapse in whole or in part. Any shares that do vest in 2026 are subject to an additional, mandatory, two-year holding period, making a total period of five years post grant. In addition, Executive Directors are expected to retain any share-based awards until they achieve a shareholding equivalent of 200 per cent of salary.

No consideration was paid for the grant of the award. For the purposes of this award, the three-day average share price immediately preceding the date of grant of £2.7420 was used.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Snape
2	Reason for the notification
a)	Position/status	Group Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	International Distributions Services plc
b)	LEI	213800TCZZU84G8Z2M70
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 £0.01 each in International Distributions Services plc GB00BDVZYZ77
b)	Nature of the transaction	Grant of ordinary shares under the International Distributions Services plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 199,808
d)	Aggregated information - Aggregated volume - Price	N/A N/A
e)	Date of the transaction	9 February 2024
f)	Place of the transaction	Outside a trading venue

Enquiries:

Investor Relations

John Crosse

Email: [e-mail]

Media Relations

Jenny Hall

Phone: [phone]

Email: [e-mail]

Greg Sage

Phone: [phone]

Email: [e-mail]

Royal Mail press office: [e-mail]

Company Secretary

Mark Amsden

Email: [e-mail]

 

END