Vesting of 2017 LTIP awards and PDMR notifications

RNS Number : 3936Q

ScS Group PLC

18 October 2019

 

18 October 2019

ScS Group plc

Vesting of Long Term Incentive Plan 2017 (2017 LTIP) awards and PDMR notifications

ScS Group plc (the "Company") announces that on 17 October 2019, the Company's Employee Benefit Trust ("EBT") has transferred 236,495 ordinary shares of 0.1 pence in the Company (the "Shares") to four PDMRs in satisfaction of vesting of share awards granted on 17 October 2016 (the "2017 LTIP"), details of which are set out below:

Name	Number of Shares Vesting
David Knight, CEO	97,466
Chris Muir, CFO	95,234
Marie Liston, Corporate Services Director	23,888
Gary Kemp, Logistics Director	19,907

The 2017 LTIP crystallised on achieving the below performance criteria for the period 31^st July 2016 to 27^th July 2019 for earnings per share ("EPS"), as approved by the Remuneration Committee:

EPS Figure	Percentage of Award that Vests
Less than 27.3 pence	Nil
27.3 pence	25%
Greater than 27.3 pence but less than 34.4 pence	Straight-line basis between 25% and 100%
34.4 pence	100%

The EPS for the Group for this period was 30.27 pence, which exceeds the minimum performance condition set of 27.3 pence;  the Remuneration Committee has therefore agreed an award of 56.33% of the maximum.

As part of this transaction, the Company has been notified of the following transactions:

1.     David Knight sold 45,809 Shares back to the EBT at a price of 234p per Share to cover his associated tax liability from the share award, and transferred the remaining shares to his spouse Keith Kay, for nil consideration. Following this announcement David Knight, together with persons closely associated to him, holds 1,528,615 ordinary shares representing circa 3.83% of the issued share capital of the Company.

2.     Chris Muir has sold 44,760 Shares back to the EBT at a price of 234p per Share to cover his associated tax liability from the share award, and transferred the remaining shares to his spouse Helen Muir, for nil consideration. Following this announcement Chris Muir, together with persons closely associated to him, holds 50,474 ordinary shares representing circa 0.13% of the issued share capital of the Company.

3.     Marie Liston sold 23,888 Shares at a price of 234p per Share. Following the sale, Marie Liston and persons closely associated with her are interested in 172,256 Ordinary Shares, representing approximately 0.43% of the issued share capital of the Company.

4.     Gary Kemp sold 19,907 Shares at a price of 234p per Share. Following the sale, Gary Kemp and persons closely associated with him are interested in 166,277 Ordinary Shares, representing approximately 0.42% of the issued share capital of the Company.

The notifications below are provided in accordance with the requirements of the EU Market Abuse Regulation:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Knight
2	Reason for 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	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 97,466
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Knight
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	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 234p 45,809
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Knight
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	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Transfer of 51,657 shares to spouse for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 51,657
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Keith Kay
2	Reason for Notification
a)	Position/status	Person closely associated with David Knight, 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	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Receipt of 51,657 shares following transfer from spouse for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 51,657
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Chris Muir
2	Reason for 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	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 95,234
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Chris Muir
2	Reason for Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 234p 44,760
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Chris Muir
2	Reason for Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Transfer of 50,474 shares to spouse for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 50,474
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Helen Muir
2	Reason for Notification
a)	Position/status	Person closely associated with Chris Muir, Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Receipt of 50,474 shares following transfer from spouse for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 50,474
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marie Liston
2	Reason for Notification
a)	Position/status	Corporate Services Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 23,888
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marie Liston
2	Reason for Notification
a)	Position/status	Corporate Services Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Sale of 23,888 shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 234p 23,888
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Kemp
2	Reason for Notification
a)	Position/status	Logistics Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 19,907
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Kemp
2	Reason for Notification
a)	Position/status	Logistics Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ScS Group plc
b)	LEI	213800LOXNVJIB4C7B98
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 Identification code	Ordinary Shares of 0.1 pence each in ScS Group plc GB00BRF0TJ56
b)	Nature of the transaction	Sale of 19,907 shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 234p 19,907
d)	Aggregated information -       Aggregated volume -       Price	Not applicable - single transaction
e)	Date of the transaction	17 October 2019
f)	Place of the transaction	London Stock Exchange

Enquiries:

ScS Group PLC David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer	c/o Buchanan [phone]
Buchanan Richard Oldworth Tilly Abraham Charlotte Slater	Tel: [phone] [e-mail]

 

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