Director/PDMR Shareholding

RNS Number : 1026I

Reach PLC

30 March 2020

 

30 March 2020

Reach plc (the "Company")

Grant of Awards under the Company's Restricted Share Plan ("RSP")

The independent trustee (the "Trustee") of the Company's Employees' Benefit Trust based in Jersey (the "Trust") notified the Company that on 27 March 2020 it granted Restricted Share awards under the RSP to Persons Discharging Managerial Responsibility ("PDMR") within the Company, in the amounts set out below.  

Under the terms of the RSP, the participant is the beneficial owner of the Restricted Shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of a three year vesting period (the "Restricted Period").

During the Restricted Period, a participant may not dispose of the Restricted Shares, and cannot vote or receive any dividends in respect of the Restricted Shares. An additional award of Restricted Shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.

During the Restricted Period, the Restricted Shares will be subject to the malus provisions of the RSP.

The base price for calculating the level of award was 96.9p, the average market closing price between 24 and 26 March 2020.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim Mullen
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Reach plc
b)	LEI	213800GNI5XF3XOATR61
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 10p Shares
	Identification code	GB0009039941
b)	Nature of the transaction	Grant of an award of restricted shares under the Restricted Share Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	33,500
d)	Aggregated information
	- Aggregated volume	33,500
	- Price	nil
e)	Date of the transaction	27 March 2020
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Fuller
2	Reason for the notification
a)	Position/status	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	Reach plc
b)	LEI	213800GNI5XF3XOATR61
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 10p Shares
	Identification code	GB0009039941
b)	Nature of the transaction	Grant of an award of restricted shares under the Restricted Share Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	14,958
d)	Aggregated information
	- Aggregated volume	14,958
	- Price	nil
e)	Date of the transaction	27 March 2020
f)	Place of the transaction	XLON

Enquiries

Reach	020 7293 3000
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary
Tulchan Communications	020 7353 4200
David Allchurch, Partner
LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

 

END

 

 

DSHZBLFXBXLEBBQ