Director/PDMR Shareholding

RNS Number : 9837U

Secure Trust Bank PLC

31 March 2023

 

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

31 March 2023

For immediate release

Secure Trust Bank PLC (the "Company")

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

On 31 March 2023 the Company granted options over ordinary shares ("Ordinary Shares") under the LTIP to the following PDMRs:

PDMR	Number of Ordinary Shares over which options granted	Exercise price
David McCreadie	66,306	£0.40 per Ordinary Share
Rachel Lawrence	41,619	£0.40 per Ordinary Share
Nick Davies	18,125	£0.40 per Ordinary Share
John Bevan	17,168	£0.40 per Ordinary Share
Geoff Ray	12,692	£0.40 per Ordinary Share
Julian Hartley	15,000	£0.40 per Ordinary Share
Katie Docherty	13,849	£0.40 per Ordinary Share

The number of shares under each option was set by reference to a value per Ordinary Share of 1,040p, which was the 12 month average mid-market price determined between 1 January to 31 December 2022.

Each option has been granted subject to performance conditions based on sliding scale measures of: (1) 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 ; (2) return on average equity (target range of 14% - 16%); (3) earnings per share ('EPS') growth (target range of 3-year compound annual growth rate 20% - 30%, measured from 2022 EPS for continuing businesses); and (4) an assessment of the Company's approach to risk management over the performance period.

The performance conditions also include an underpin measure which includes an assessment of general financial performance, shareholder experience, risk management performance and progress against the Group's strategy .

The performance period in each case is a period of three years starting on 1 January 2023 and ending with 31 December 2025.

Each of the four performance conditions noted above accounts for 25% of the option.

Each option 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 option will be released so that the participant is entitled to exercise the vested Ordinary Shares on the vesting date except in the case of Rachel Lawrence and David McCreadie 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 total 217,307 share options with performance conditions were granted to participants in the LTIP.

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

 The Company further granted options over Ordinary Shares without performance conditions but subject only to the participant's continued service through to the applicable vesting date, but with discretion retained for the Remuneration Committee to potentially reduce the award on settlement if it considers appropriate to do so under the LTIP plan to the following PDMRs:

PDMR	Number of Ordinary Shares over which award granted	Exercise price
Chris Harper	7,937	£0.40 per Ordinary Share

The number of shares under each option was set by reference to a value per Ordinary Share of 1,040p, which was the 12 month average mid-market price determined between 1 January to 31 December 2022.

In total 63,975 share options without performance conditions were granted to participants in the LTIP.

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David McCreadie
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 66,306
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
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 41,619
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
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 18,125
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
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 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 17,168
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Geoff Ray
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 12,692
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Julian Hartley
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 15,000
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Katie Docherty
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 restricted stock 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 13,849
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
g)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Chris Harper
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 restricted stock 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 7,937
e)	Aggregated information -  Volume -  Price	N/A
f)	Date of the transaction	31 March 2023
g)	Place of the transaction	Outside a trading venue

The person responsible for making this announcement is Mark Stevens.

Mark Stevens

Company Secretary

Secure Trust Bank PLC

[phone]

 

END

 

 

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