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Euromoney Ins.InvPLC (ERM)

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Thursday 09 December, 2021

Euromoney Ins.InvPLC

Director/PDMR Shareholding

RNS Number : 1202V
Euromoney Institutional InvestorPLC
09 December 2021
 

EUROMONEY INSTITUTIONAL INVESTOR PLC

NOTIFICATION OF TRANSACTIONS BY PDMRs

GRANT OF SHARE OPTIONS

9 December 2021

 

 

Euromoney Institutional Investor PLC (the "Company") announces that on 6 December 2021 share awards (the "Awards") in the form of conditional share awards or nil-cost options over Ordinary shares in the Company ("Shares") were granted to the following persons discharging managerial responsibilities ("PDMRs") in the Company under the Performance Share Plan ("PSP") and the Deferred Bonus Plan ("DBP") as follows:

 

Name

Position

Award of Shares under the PSP1

Award of Shares under the DBP1

T otal

Andrew Rashbass

CEO

155,925

35,911

191,836

Wendy Pallot

CFO

60,810

7,213

68,023

 

For the PSP and the DBP, the share price used to determine the number of Shares awarded was the average of the middle market quotations of an Ordinary Share as derived from the Daily Official List for the five dealing days preceding the date of grant.  

 

Awards under the PSP

The number of Shares which may vest on 6 December 2026 (being 5 years after the grant) under the PSP are subject to the rules of the PSP approved by the Remuneration Committee and will depend on the extent to which performance measures are satisfied over a three-year period from 1 October 2021 and ending on 30 September 2024. A two-year holding period applies in addition to the three-year performance period.

 

The performance targets are set out in the following table:

 

Performance measure

Weighting

Threshold performance

(25% of the award will vest)

Maximum performance

(100% of the award will vest)

Total Shareholder Return2

30%

Median

Upper quartile

Group adjusted diluted EPS

40%

52.6p

69.2p

Group underlying revenue growth

30%

3% average annual growth rate

9% average annual growth rate

 

For each performance measure, no vesting will occur if performance is below threshold and vesting occurs on a straight-line basis between threshold and maximum.

The Remuneration Committee will closely monitor the performance measures and will exercise its discretion as appropriate to ensure that the final outcomes are warranted based on Company performance in order to avoid windfall gains.

Awards under the DBP

Annual bonus awards for Executive Director above 100% of base salary are required to be deferred into Shares for two years.

 

The number of Shares which may vest on 6 December 2023 (being two years after the grant) are subject to the rules of the DBP as approved by the Remuneration Committee.

 

 

 

In accordance with the UK Market Abuse Regulations the relevant Financial Conduct Authority notifications are set out below.

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Andrew Rashbass

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

Euromoney Institutional Investor PLC

b)

LEI

213800PZU2RGHMHE2S67

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 0.25 pence each

 

Identification code

GB0006886666

b)

Nature of the transaction

A conditional award or nil-cost option over Ordinary shares of Euromoney Institutional Investor PLC granted under the Company's Performance Share Plan and Deferred Bonus Plan on 6 December 2021

c)

Price(s), volume(s)

Price(s)

Volume(s)

Nil

191,836

 

d)

Aggregated information

-  Aggregated volume

 

191,836

 

-  Price

Nil

e)

Date of the transaction

6 December 2021

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Wendy Pallot

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

Euromoney Institutional Investor PLC

b)

LEI

213800PZU2RGHMHE2S67

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 0.25 pence each

 

Identification code

GB0006886666

b)

Nature of the transaction

A conditional award or nil-cost option over Ordinary shares of Euromoney Institutional Investor PLC granted under the Company's Performance Share Plan and Deferred Bonus Plan on 6 December 2021

c)

Price(s), volume(s)

Price(s)

Volume(s)

Nil

68,023

 

d)

Aggregated information

-  Aggregated volume

68,023

 

-  Price

Nil

e)

Date of the transaction

6 December 2021

f)

Place of the transaction

Outside a trading venue

 

Ends

 

Any queries in relation to this announcement should be made to:

 

Tim Bratton, General Counsel & Company Secretary: +44 20 7779 8288; [email protected]

 

 

About Euromoney Institutional Investor PLC

Euromoney Institutional Investor PLC ("Euromoney") is a global B2B information-services business. We provide actionable data, analysis, intelligence and access through three divisions in markets where information and convening market participants are valued. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index. (euromoneyplc.com)

 

   

LEI number: 213800PZU2RGHMHE2S67

 

 

Reflects the maximum number of Shares which may vest subject to the rules of the relevant plan.

2 Relative to a comparator group of FTSE 250 companies excluding investment trusts. The starting and ending share prices are averaged over three months (i.e. the three-months ending 30 September 2021 and 30 September 2024) with dividends over the performance period reinvested.

 

 

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