Director/PDMR Shareholding

RNS Number : 8806F

Polar Capital Holdings PLC

20 July 2021

 

20 July 2021

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

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)/Persons Closely Associated (PCAs) in accordance with the Market Abuse Regulations

Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July 2021 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.

D irector / PDMR	Position	No. of shares under A ward
G avin Rochussen	Chief E xecutive Officer	191,677
Iain Evans	Global Head of Distribution	93,401
Alexander Black	Chief Investment Officer	92,234
S amir Ayub	F inance Director	47,919
N icholas Farren	C hief Operating Officer	47,919

Vesting of the Awards is subject to continued employment and performance based on the following measures:

-  45% of each Award is subject to a performance condition relating to the performance of the Company's total shareholder return relative to the constituents of the FTSE 250 Index (excluding investment trusts) as at the Grant Date.

-  45% of each Award is subject to a performance condition requiring the Company's core adjusted diluted earnings per share to achieve a pre-set level for the financial year 2023/24 (the end of three financial years commencing on 1 April 2021). 

-  The remaining 10% of each Award is subject to a performance condition based on the aggregate performance fee profits for the three financial years commencing on 1 April 2021.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 191,677
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Iain Evans
2	Reason for Notification
a)	Position/status	Global Head of Distribution
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 93,401
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexander Black
2	Reason for Notification
a)	Position/status	Chief Investment Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 92,234
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Samir Ayub
2	Reason for Notification
a)	Position/status	Finance Director
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 47,919
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicholas Farren
2	Reason for Notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally b egins to vest after 3 years. One third of the v ested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 47,919
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2021
f)	Place of the transaction	Outside a trading venue

Enquiries:

Polar Capital                                                                             [phone]

Gavin Rochussen (Chief Executive)

John Mansell (Executive Director) 

Samir Ayub (Finance Director)

Numis Securities Limited - Nomad and Joint Broker [phone]

Charles Farquhar

Stephen Westgate

Kevin Cruickshank (QE)

Peel Hunt LLP - Joint Broker   [phone]

Andrew Buchanan

Rishi Shah

Camarco                                                                                    [phone]

Ed Gascoigne-Pees

Jennifer Renwick

Monique Perks 

 

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