Director/PDMR Shareholding

RNS Number : 4715Q

Kingfisher PLC

28 June 2022

 

KINGFISHER PLC

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility ('PDMRs')

Kingfisher plc (the 'Company') announces that, on 24 June 2022, awards were granted to PDMRs to acquire ordinary shares of 15 5/7 pence each in the Company (the 'Shares') under the Kingfisher Performance Share Plan (the 'KPSP') and the PSP French Free Share Sub Plan (the 'PSP French Sub Plan').

The price per share used to calculate the number of Shares over which the awards have been granted is 241.03 pence (being the average of the closing price of the Shares on the main market of the London Stock Exchange between 21 June 2022 and 23 June 2022), in accordance with the rules of the KPSP.

These awards were made in accordance with the Directors' Remuneration Policy and Kingfisher Performance Share Plan Rules approved by shareholders at the Company's Annual General Meeting on 22 June 2022. Following these grants, Thierry and Bernard hold the following interests in the Company's issued share capital:

Name	Position	Total number of Shares over which nil-cost options held1	Total number of Shares
Thierry Garnier	Chief Executive Officer	4,793,814	100,000
Bernard Bot	Chief Financial Officer	2,751,353	80,000

¹ Dividend equivalents are payable in respect of the shares that vest.

The notifications for each PDMR below, which were made in accordance with the requirements of the UK Market Abuse Regulations, provide further detail of the awards granted to each PDMR.

Enquiries:

Chloe Barry

Group Company Secretary

Tel: [phone]

Email: [e-mail]

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Thierry Garnier
2	Reason for the notification
a)	Position/status:	Chief Executive Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	958,944
d)	Aggregated information - Aggregated volume - Price	-  958,944 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Bernard Bot
2	Reason for the notification
a)	Position/status:	Chief Financial Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	640,309
d)	Aggregated information - Aggregated volume - Price	-  640,309 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Adela Smeu
2	Reason for the notification
a)	Position/status:	CEO Romania
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	165,360
d)	Aggregated information - Aggregated volume - Price	-  165,360 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Elizabeth Messud
2	Reason for the notification
a)	Position/status:	General Counsel
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	248,305
d)	Aggregated information - Aggregated volume - Price	-  248,305 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Graham Bell
2	Reason for the notification
a)	Position/status:	CEO B&Q UK and Ireland
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	365,924
d)	Aggregated information - Aggregated volume - Price	-  365,924 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Henri Solère
2	Reason for the notification
a)	Position/status:	Chief Offer and Sourcing Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	303,630
d)	Aggregated information - Aggregated volume - Price	-  303,630 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Jean-Jacques Van Oosten
2	Reason for the notification
a)	Position/status:	Chief Digital and Technology Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Appendix B.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	485,285
d)	Aggregated information - Aggregated volume - Price	-  485,285 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	John Mewett
2	Reason for the notification
a)	Position/status:	CEO Screwfix
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	339,787
d)	Aggregated information - Aggregated volume - Price	-  339,787 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Kate Seljeflot
2	Reason for the notification
a)	Position/status:	Chief People Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	306,679
d)	Aggregated information - Aggregated volume - Price	-  306,679 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Sebastien Krysiak
2	Reason for the notification
a)	Position/status:	Chief Commercial Officer
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	304,937
d)	Aggregated information - Aggregated volume - Price	-  304,937 -  Nil
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Alain Rabec
2	Reason for the notification
a)	Position/status:	CEO France
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Conditional Award to acquire shares under the PSP French Sub Plan subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		N/A	341,776
d)	Aggregated information - Aggregated volume - Price	-  341,776 -  N/A
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a) b)	Natural person:  Legal person	Pascal Gil
2	Reason for the notification
a)	Position/status:	CEO Castorama Poland
b)	Initial notification/amendment	Initial notification
3	Details of the Issuer
a)	Name	Kingfisher plc
b)	Legal Entity Identifier:	213800KBMEV7I92FY281
4	Details of the transaction(s): Parts a-d of this section are 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)	Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214)
b)	Nature of the transaction	Conditional Award to acquire shares under the PSP French Sub Plan subject to the conditions set out in Note 1.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		N/A	254,554
d)	Aggregated information - Aggregated volume - Price	-  254,554 -  N/A
e)	Date of the transaction (YYYY - MM - DD)	2022-06-24
f)	Place of the transaction	Outside a trading venue

Note 1

The awards granted to the PDMRs on 24 June 2022 are subject to continued employment and the achievement of performance conditions which are measured over the performance period of 1 February 2022 to 31 January 2025. The vesting date is 3 years after the grant date.

The performance conditions which apply to these Awards are EPS, ROCE, Kingfisher's Total Shareholder Return relative to a comparator group ('Relative TSR') and a basket of ESG measures.

The targets and associated weightings attached to these conditions are as follows:

Target	2024/25 EPS (25% weighting)	2024/25 ROCE (25% weighting)	Relative TSR (25% weighting)	Basket of ESG conditions (25% weighting)
Threshold (25% Vesting)	36.5p	12.85%	50th percentile	See table below for detail
Stretch (100% Vesting)	47.5p	16.30%	75th percentile

Target	Climate change Reduction in Scope 1 and 2 emissions (8.33% weighting)	Forest Positive % of wood and paper responsibly sourced as a % of SKUs purchased (8.33% weighting)	Gender Diversity  % of women in senior leadership (8.33% weighting)
Threshold (25% Vesting)	31.0%	95.0%	30%
Target (50% Vesting)	34.0%	98.0%	33%
Stretch (100% Vesting)	37.8%	99.5%	35%

The definitions used for EPS and ROCE are as per our 2021/22 Annual Report.

The Comparator Group used for the relative TSR condition is the combined constituents of the FTSE 350 Retailers, FTSE 350 Drug and Grocery Stores as well as the STOXX 600 Drug and Grocery Stores, as of 1 February 2022.

For the basket of ESG conditions, the following definitions apply:

· Climate Change is the reduction in Scope 1 and Scope 2 carbon emissions in FY2024/25 from a FY2016/17 baseline. 

· Forest Positive is the percentage of wood and paper responsibly sourced as a % of Stock Keeping Units ('SKUs') purchased in FY2024/25. 

· Gender Diversity is the percentage of women in senior leadership roles at the end of FY2024/25 (on 31 January 2025).

For the EPS, ROCE and Relative TSR performance conditions, the award vests on a straight-line basis between threshold and stretch. For the ESG performance conditions, the award vests on a straight-line basis between threshold and target and between target and stretch. For all performance conditions, the award does not vest for performance below threshold for that performance condition. Each performance condition is measured independently.

 

END

 

 

DSHFPMMTMTTTBFT