Director/PDMR Shareholding

RNS Number : 1457G

Polar Capital Holdings PLC

19 July 2019

 

19 July 2019

Polar Capital Holdings plc ("Polar Capital" or the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)/Persons Closely Associated (PCAs)

Mr Rochussen, on his appointment as chief executive on 17 July 2017, joined the Company's Executive Incentive Plan and was awarded a deferred, forfeitable interest in 802,967 ordinary shares of the Company (the "Award").

The terms of the Award provide for the release of one-third of the shares on the first, second and third anniversary of its granting.

On 18 July 2019, being the second anniversary of the grant of the Award, 267,656 ordinary shares in the Company were transferred from the Polar Capital Employee Benefit Trust to Mr Rochussen at nil cost. Of these, a total of 145,000 ordinary shares of the Company were sold in order to raise funds to meet the tax liability linked to this second release of ordinary shares under the Award. This sale occurred over two days, with 115,000 shares sold at 576p on 18 July 2019, and 30,000 shares sold at 576p on 19 July 2019.  The balance of 122,656 ordinary shares were then transferred to Mr Rochussen.

Mr Rochussen has made an undertaking not to dispose of the net shares for a period of 5 years from the grant date of 18 July 2017. 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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	Ordinary Shares of 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on vesting of one third of initial share award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	267,656
d)	Aggregated information	Single transaction as in 4 c) above
	- Aggregated volume	267,656
	- Price	Nil
e)	Date of the transaction	18-07-2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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	Ordinary Shares of 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Sale of shares of the Company on vesting of one third of initial share award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			576.0 pence	115,000
d)	Aggregated information	Single transaction as in 4 c) above
	- Aggregated volume	115,000
	- Price	576.0 pence
e)	Date of the transaction	18-07-2019
f)	Place of the transaction	London Stock Exchange, AIM, XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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	Ordinary Shares of 2.5p each
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Sale of shares of the Company on vesting of one third of initial share award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			576.0 pence	30,000
d)	Aggregated information	Single transaction as in 4 c) above
	- Aggregated volume	30,000
	- Price	576.0 pence
e)	Date of the transaction	19-07-2019
f)	Place of the transaction	London Stock Exchange, AIM, XLON

Enquiries:

Polar Capital Holdings	Numis Securities Limited - Nomad and Joint Broker
Gavin Rochussen (CEO)	Charles Farquhar
John Mansell (Executive Director)	Stephen Westgate
Neil Taylor (Company Secretary)	Kevin Cruickshank (QE)
Tel:  [phone]	[phone]
	Peel Hunt LLP - Joint Broker
	Guy Wiehahn
	Andrew Buchanan
	Tel: [phone]

 

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