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Liontrust Asset Mgmt (LIO)

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Thursday 24 June, 2021

Liontrust Asset Mgmt

Director/PDMR Shareholding

RNS Number : 8908C
Liontrust Asset Management PLC
24 June 2021
 

LEI: 549300XVXU6S7PLCL855

For immediate release

24 June 2021

 

Stock Exchange Announcement

LIONTRUST ASSET MANAGEMENT PLC

Notification of transactions of directors/persons discharging managerial responsibilities

 

The information contained in this notification is disclosed in accordance with the requirements of the EU Market Abuse Regulation.

 

Liontrust Asset Management Plc (the "Company") was informed on 23 June 2021 of the following transactions in nil-priced options over Company's ordinary shares of 1p ("Shares") by PDMR's.

 

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

 

1

Details of PDMR/person closely associated with them ("PCA")

(a)

Name

John Ions

(b)

Position / status

Chief Executive

(c)

Initial notification / amendment

Initial Notification

2

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

Nil-priced options on Liontrust Asset Management Plc Ordinary Share of 1p (LEI: 549300XVXU6S7PLCL855)

 

(b)

Nature of the transaction

Grant of nil-priced options under the Liontrust Long-Term Incentive Plan

 

(c)

Price(s) and
volume(s)

Price(s)

Volume(s)


Nil

53,389 (options granted)







(d)

Aggregated information

Aggregated volume Price

N/A

(e)

Date of the transaction

2021-06-23 (options granted)

 

(f)

Place of the transaction

N/A

 

1

Details of PDMR/person closely associated with them ("PCA")

(a)

Name

Vinay Abrol

(b)

Position / status

Chief Financial Officer & Chief Operating Officer

(c)

Initial notification / amendment

Initial Notification

2

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

Nil-priced options on Liontrust Asset Management Plc Ordinary Share of 1p (LEI: 549300XVXU6S7PLCL855)

(b)

Nature of the transaction

Grant of nil-priced options under the Liontrust Long-Term Incentive Plan

 

(c)

Price(s) and
volume(s)

Price(s)

Volume(s)


Nil

35,182 (options granted)








(d)

Aggregated information

Aggregated volume Price

N/A

(e)

Date of the transaction

2021-06-23 (options granted)

 

(f)

Place of the transaction

N/A

 

Performance conditions on LTIPs granted

 

· Absolute total shareholder return (20%);

Start of the performance period: on 23 June 2021, with the starting share price being 1,559.53p, which is the 30-day average to the day before the date of grant. The end of the performance period: 23 June 2024.

 

Performance will be assessed against the following targets:

 

Absolute TSR growth p.a.

Vesting (% of maximum)

10%

10%

15%

100%

There will be straight line vesting between points

 

· Relative shareholder return (20%);

 

Using the same starting price as above, performance will be assessed against FTSE All Share Total Return Index (starting index value 7862.94. which is the 30-day average to the day before the date of grant) . The end of the performance period: 23 June 2024.

 

Performance will be assessed against the following targets:

 

Relative TSR

Vesting (% of maximum)

Equal to index return

10%

10% p.a. above index return

100%

 

There will be straight line vesting between points

 

· Diluted adjusted earnings (excluding performance fees) per share (30%);

 

Starting EPS (Diluted Adjusted EPS excluding performance fees): 80.14 p for the financial year ending 31 March 2021. End of the performance period is 31 March 2024. Performance will be assessed against the following targets:

 

Adjusted Diluted EPS (exc. Performance fees) growth p.a.

Vesting (% of maximum)

10%

10%

15%

100%

 

There will be straight line vesting between points.

 

· Other strategic objectives (30%) which include

 

1.  Net inflows. Net inflows versus budget for the financial years ending 31 March 2022, 2023 and 2024. The budget targets are commercially sensitive, and will be disclosed after vesting;

 

2.  Fund performance: Below 50% of funds in 1st or 2nd quartile nil vests, at 50% of funds 10% vests and at 75% of funds and above 100% vests; and

 

3.  Other strategic measures, which are commercially sensitive and will be disclosed after vesting.

 

For further information please contact:

 

Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)

John Ions: Chief Executive

Vinay Abrol: Chief Financial Officer & Chief Operating Officer

Simon Hildrey: Chief Marketing Officer

David Boyle: Head of Corporate Development

 

N+1 Singer Advisory LLP (Tel: 020 7496 3000)

Corporate Broking: Tom Salvesen

Corporate Finance: Justin McKeegan

 

Panmure Gordon (Tel: 020 7886 2500)

Corporate Broking: Charles Leigh-Pemberton

Corporate Advisory: Antoine Dupont-Madinier

 

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