Director/PDMR Shareholding

RNS Number : 3212U

TClarke PLC

27 March 2023

 

TClarke plc
("the Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that on 27^th March 2023, the following Executive Directors of the Company were granted nil cost conditional share awards over ordinary shares of 10p each in Company ("Shares") pursuant to the TClarke 2021 Long-term Incentive Plan ("the Plan") as follows:

Executive Director:	Number of conditional shares awarded:
Mark Lawrence	337,843
Mike Crowder	287,934
Trevor Mitchell	253,382

No consideration was paid for the grant of the conditional share awards.  The conditional share awards will normally vest on 27^th March 2026, being the third anniversary of the date of grant, and will be subject to continued employment with the Company.

50% of the award will be subject to satisfaction of the earnings per share performance condition as set out below:

Annual growth in EPS above CPI*	Proportion of award vesting
Less than 3%	Nil
3%	25%
Between 3% and 10%	Between 25% and 100% on a straight-line basis
Above 10%	100%

*Base point from which performance is measured is based on average underlying EPS for the two years ended 31^st December 2022. Earnings per share calculated by underlying profit before tax divided by weighted average of number of shares in issue during the financial year.

50% of the award is being made to incentivise the achievement of the Company's 3 year ambitious organic growth plan, achievement of which would substantially enhance earnings per share. This element of the award will be subject to satisfaction of the Total Shareholder Return (TSR) performance condition as set out below:

TSR*	Proportion of award vesting
Less than 35%	Nil
35%	25%
Between 35% and 50%	Between 25% and 100% on a straight-line basis
Above 50%	100%

* Base point share price 150p. The share price at maturity is the 3-month average to 31 December 2025. Formal notifications in respect of the conditional share awards to the Executive D irectors are below; 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mark Lawrence 2 Reaso n for the notification a) Position/status Group Chief Executive Officer and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ils of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ils 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) Descriptio n of the financial instrument, type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Nature of the transaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 337,843 d) Aggr e g ate d information - Aggregated volume - Price N/A (single transaction) e ) Date of the transaction 2023-03-27 f) Place of the transaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mike Crowder 2 Reaso n for the notification a) Position/status Group Managing Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ils of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ils 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) Descriptio n of the financial instrument, type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Nature of the transaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 287,934 d) Aggr e g ate d information - Aggregated volume - Price N/A (single transaction) e ) Date of the transaction 2023-03-27 f) Place of the transaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Trevor Mitchell 2 Reaso n for the notification a) Position/status Group Finance Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ils of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ils 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) Descriptio n of the financial instrument, type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Nature of the transaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 253,382 d) Aggr e g ate d information - Aggregated volume - Price N/A (single transaction) e ) Date of the transaction 2023-03-27 f) Place of the transaction Outside a trading venue For further information contact: TClarke plc Mark Lawrence Group Chief Executive Trevor Mitchell Finance Director Tel: [phone]   www.tclarke.co.uk Cenkos Securities plc (Corporate Broker) Ben Jeynes (Corporate Finance) Alex Pollen (Sales) Tel: [phone]   www.cenkos.com RMS Partners Simon Courtenay Tel: [phone] 27 March 2023

 

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