Director/PDMR Shareholding

MITIE Group PLC

31 July 2024

 

31 July 2024

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

Mitie Group plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons

On 30 July 2024 Phil Bentley and Simon Kirkpatrick were granted options over Ordinary shares of 2.5 pence each in the Company under the Company's Long Term Incentive Plan ("LTIP").

The performance conditions attaching to the LTIP are Revenue, EPS and ROIC, each accounting for 33.3% of the award. The Committee will also have reference to leverage (average debt/EBITDA) and ESG underpins such that if leverage and/or progress against the Company's ESG strategy is poor, there is specific discretion to allow the award to be reduced accordingly, including to nil.

The number of shares under award has been determined using the average closing share price for the four dealing days prior to the start of the financial year on 1 April 2024 (being 104.60p), to provide direct alignment with the performance period. These awards therefore represent grant levels of 600% and 175% of salary for Phil Bentley and Simon Kirkpatrick respectively.

The attached notifications, made in accordance with the requirements of the UK Market Abuse Regulation, give further detail.

- Ends -

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	PHIL BENTLEY
2	Reason for the notification
a)	Position/status	PDMR - CHIEF EXECUTIVE
b)	Initial notification /Amendment	INITIAL NOTIFICATION
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	MITIE GROUP PLC
b)	LEI	213800MTCLTKEHWZMJ03
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	SHARE OPTIONS OVER ORDINARY SHARES OF 2.5 PENCE EACH IN MITIE GROUP PLC. IDENTIFICATION CODE FOR MITIE GROUP PLC ORDINARY SHARES:  GB0004657408
b)	Nature of the transaction	GRANT OF NIL-COST OPTIONS UNDER THE MITIE GROUP PLC LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) NIL 5,162,523 OPTIONS
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) NIL 5,162,523 OPTIONS
e)	Date of the transaction	2024-07-30
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	SIMON KIRKPATRICK
2	Reason for the notification
a)	Position/status	PDMR - 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	MITIE GROUP PLC
b)	LEI	213800MTCLTKEHWZMJ03
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	SHARE OPTIONS OVER ORDINARY SHARES OF 2.5 PENCE EACH IN MITIE GROUP PLC. IDENTIFICATION CODE FOR MITIE GROUP PLC ORDINARY SHARES:  GB0004657408
b)	Nature of the transaction	GRANT OF NIL-COST OPTIONS UNDER THE MITIE GROUP PLC LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) NIL 689,292 OPTIONS
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) NIL 689,292 OPTIONS
e)	Date of the transaction	2024-07-30
f)	Place of the transaction	OUTSIDE A TRADING VENUE

For further information

Kate Heseltine Group IR and Corporate Finance Director	M: [phone]	E: [e-mail]
Claire Lovegrove Director of Corporate Affairs	M: [phone]	E: [e-mail]
Richard Mountain FTI Consulting	M: [phone]

About Mitie

Founded in 1987, Mitie employs 68,000 colleagues and is the leading technology-led Facilities Transformation company in the UK. We are a trusted partner to around 3,000 blue chip customers across the public and private sectors, working with them to transform their built estates, and the lived experience for their colleagues and customers, as well as providing data-driven insights to inform better decision-making.

In each of our core services of Engineering (Hard Services) and Security and Cleaning & Hygiene (Soft Services) we hold market leadership positions. We also upsell Projects capabilities in the areas of building fitouts and modernisation, decarbonisation, fire & security, and telecoms infrastructure. Our sector expertise includes Central Government, Critical National Infrastructure, Defence, Financial Services, Healthcare & Life Sciences, Local Government & Education, Retail & Logistics and Transport & Aviation.

Over the previous Three-Year Plan (FY22 - FY24) Mitie delivered a Total Shareholder Return (TSR) of 80% (#10 in FTSE 250). Our new Facilities Transformation Three-Year Plan (FY25 - FY27) will extend Mitie's market leadership position through accelerated growth and deliver enhanced shareholder returns.

We hold industry-leading ESG credentials, including a place on the CDP Climate change A List, and in the past 12 months we have received multiple industry awards including B2B Marketing Team of the Year, Best Low Carbon Solution and Net Zero Carbon Strategy of the Year. Targeting Net Zero by the end of 2025, our ambitious emissions reduction plans have been validated by the Science Based Targets initiative (SBTi). We have been recognised as a UK Top Employer for the sixth consecutive year. Find out more at www.mitie.com.

 

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