Director/PDMR Shareholding

Vanquis Banking Group PLC

09 May 2024

 

Vanquis Banking Group plc ("the Company")

Director/PDMR Transaction - Initial Notification

The Company announces that it has granted the following awards on 7 May 2024 over the Company's ordinary shares of 20 8/11p ("Shares") as follows:

1.    nil-cost options over 847,599 and 643,006 Shares for no consideration to Ian McLaughlin and David Watts respectively, who are directors/persons discharging managerial responsibility ("PDMRs") in the Company, under the 2020 Restricted Share Plan (the "RSP Options").

The number of ordinary shares awarded under the RSP Options is based on the average closing share price on the London Stock Exchange between 29 April 2024 and 3 May 2024 of £0.4790. The number of shares granted reflects a downwards adjustment to the grant value of the awards of 44%. In making this downwards adjustment, the Remuneration Committee considered its internal Policy to take into account the potential windfall gain and share dilution. A further assessment will be made at the point of vest as part of the RSP performance underpin. There has been no additional discount from the price at grant to reflect the absence of dividend equivalents during the vesting period and no market value options linked to the RSP Options have been granted under the 2020 Restricted Share Plan (CSOP Options).

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian McLaughlin
2	Reason for the 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	Vanquis Banking Group plc
b)	LEI	213800U93SZC44VXN635
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 20 8/11p GB00B1Z4ST84
b)	Nature of the transaction	Acquisition of nil-cost options under the 2020 Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 847,599
d)	Aggregated information - Aggregated volume - Price	847,599 £0
e)	Date of the transaction	7 May 2024
f)	Place of the transaction	Outside a trading venue

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Watts
2	Reason for the 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	Vanquis Banking Group plc
b)	LEI	213800U93SZC44VXN635
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 20 8/11p GB00B1Z4ST84
b)	Nature of the transaction	Acquisition of nil-cost options under the 2020 Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 643,006
d)	Aggregated information - Aggregated volume - Price	643,006 £0
e)	Date of the transaction	7 May 2024
f)	Place of the transaction	Outside a trading venue

Name of authorised official of issuer responsible for making notification:

David Whincup, Deputy Company Secretary

Date of Notification:

9 May 2024

 

END