Director/PDMR Shareholding

RNS Number : 0636D

Secure Trust Bank PLC

23 October 2020

 

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

23 October 2020

For immediate release

Secure Trust Bank PLC (the "Company")

Grant of awards under the Company's 2017 Long Term Incentive Plan ("LTIP")

On 22 October 2020 the Company granted awards over ordinary shares ("Ordinary Shares") under the LTIP to the following PDMRs:

PDMR	Number of Ordinary Shares over which award granted	Exercise price
Paul Lynam	91,837	£0.40 per Ordinary Share
Rachel Lawrence	10,204	£0.40 per Ordinary Share
Kevin Hayes	17,857	£0.40 per Ordinary Share
David Nield	17,857	£0.40 per Ordinary Share
Jon Bowers	14,286	£0.40 per Ordinary Share
Anne McKenning	9,184	£0.40 per Ordinary Share
Roy Aston	6,122	£0.40 per Ordinary Share
Adrian Walters	6,122	£0.40 per Ordinary Share
Paul Kilbride	2,041	£0.40 per Ordinary Share
Nick Davies	17,857	£0.40 per Ordinary Share
Nick Shepherd	3,061	£0.40 per Ordinary Share
Alan Karter	9,184	£0.40 per Ordinary Share
David Mercer	6,122	£0.40 per Ordinary Share
John Bevan	5,102	£0.40 per Ordinary Share

The number of shares under each award was set by reference to a value per Ordinary Share of £9.80. £9.80 is a year to date average determined in late September 2020.

Each award has been granted subject to performance conditions based on sliding scale measures of: (1) the Company's total shareholder return over the performance period (see below) relative to the total shareholder return of a group of eight comparator companies over the same period; (2) the Company's total shareholder return over the performance period relative to the total shareholder return performance of the current constituent companies of the FTSE Small Cap Index (excluding investment trusts) over the same period ; (3) the compound annual rate of growth of the Company's total shareholder return over the performance period (20% p.a. for threshold vesting, to 40% p.a. for full vesting of this element); and (4) an assessment of the Company's approach to risk management over the performance period.

The performance conditions also include an underpin measure in respect of the total shareholder return elements, which includes an assessment of general financial performance, shareholder experience and risk management performance.

The performance period in each case is a period of three years starting on 1 October 2020 and ending with 30 September 2023 except in the case of the award to John Bevan. Mr Bevan's award is structured so as to comprise three equal tranches, with respective performance periods of one year, two years and three years respectively each starting on 1 October 2020.

Each of the four performance conditions noted above accounts for 25% of the award (or tranche as relevant).

Each award (or tranche as relevant) will, ordinarily, vest on the date on which the Company's Remuneration Committee of the Board of Directors, determines the extent to which the performance conditions have been satisfied.  Each award (or tranche as relevant) will be released so that the participant is entitled to acquire the vested Ordinary Shares on the vesting date except in the case of Paul Lynam when the date of release will be at the end of a holding period which shall end on the second anniversary of the vesting date. 

In accordance with the terms of the awards, the exercise price payable may be waived before exercise.

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Paul Lynam
2.	Reason for the notification
a)	Positio n/ status	Director/PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 91,837
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Rachel Lawrence
2.	Reason for the notification
a)	Positio n/ status	Director/PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 10,024
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Kevin Hayes
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 17,857
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David Nield
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 17,857
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Jon Bowers
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 14,286
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Anne McKenning
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 9,184
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Roy Aston
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 6,122
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Adrian Walters
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 6,122
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Paul Kilbride
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 2,041
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Nick Davies
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 17,857
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Nick Shepherd
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 3,061
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Alan Karter
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 9,184
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David Mercer
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 6,122
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	John Bevan
2.	Reason for the notification
a)	Positio n/ status	PDMR
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Secure Trust Bank PLC
b)	LEI	213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b)	Identification code	GB00B6TKHP66
c)	Nature of the transaction	Grant of nominal-cost options over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 5,102
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	22 October 2020
g)	Place of the transaction	Outside a trading venue

Mark Stevens

Company Secretary

Secure Trust Bank PLC

[phone]

 

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