Director/PDMR Shareholding

RNS Number : 8624R

SAGA PLC

01 July 2015

 

1^st July 2015

Saga plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility ("PDMRs") in Ordinary Shares of 1 pence each in the Company ("Shares") on 30 June 2015.

Long Term Incentive Plan ("LTIP")

On 30 June 2015, the Company granted awards (in the form of nil-cost options) over Shares under the LTIP ("LTIP Award") as set out in column 3 of the table below. The number of Shares subject to the LTIP Awards has been determined by reference to the mid-market price of a Share on Monday 29 June 2015 (217 pence per Share).

In addition, the Company has granted market value options under the Company share option plan section of the LTIP ("CSOP options") over the number of Shares set out in column 4 of the table below. The exercise price of each CSOP option is 217 pence per Share, being the mid-market price of a Share on Monday 29 June 2015.  The number of Shares that is capable of exercise under each LTIP Award will be reduced by such number of Shares as has a market value (at the date of exercise of the linked CSOP option) equal to the gain made on the exercise of the CSOP option. Overall, the participant's pre-tax economic gain from the LTIP Award is the same as if the CSOP option was not in place.

1. Name	2. Status	3. No. of Shares subject to LTIP award	4. No. of Shares subject to CSOP Option	5. Lapse Date
Lance Batchelor	Director/PDMR	611,059	Nil	30 June 2025
Jonathan Hill	Director/PDMR	282,027	13,824	30 June 2025
Andrew Strong	PDMR	161,290	Nil	30 June 2025
Roger Ramsden	PDMR	161,290	Nil	30 June 2025
Tim Pethick	PDMR	127,500	Nil	30 June 2025
Karen Caddick	PDMR	117,511	13,824	30 June 2025
Julius Christmas	PDMR	80,645	Nil	30 June 2025

The vesting of the LTIP Award (and the linked CSOP options) is subject to the satisfaction of a performance condition set by the Remuneration Committee of the Company. The LTIP Awards (and the linked CSOP options) will normally vest and become exercisable on the later of the third anniversary of grant and the assessment of the performance condition, subject to continued employment.  Awards are exercisable for 10 years from the date of grant, unless the exercise period is shortened in accordance with the LTIP rules.

For further information on the LTIP, please refer to the annual report and accounts for the year ended 31 January 2015.

Enquiries

Saga plc

Vicki Haynes, Company Secretary   Tel: [phone]

Enbrook Park

Sandgate

Folkestone

Kent

CT20 3SE

 

 

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