Directors Dealings
10/04/2026 15:18
RNS Number : 0537A
Cavendish PLC
10 April 2026
10 April 2026
Cavendish plc ("Cavendish")
Directors Dealings
Cavendish plc (AIM:CAV) operates a Deferred Bonus Scheme (the "DBS") and a Short Term Incentive Scheme (the "STIP") (together, the "Schemes") which are legacy schemes established by Cenkos Securities plc but under which outstanding awards at completion of the merger between finnCap Group plc and Cenkos Securities plc (on 7 September 2023) were rolled-over into awards over Cavendish shares.
On 8 April 2026, in accordance with the terms and conditions of the Schemes, one third of the DBS awards granted to certain employees, including Executive Directors, in 2023, and one-third of the STIP awards granted to certain employees, including Executive Directors, in July 2023, vested. The vested awards were satisfied by the transfer of shares allocated for that purpose under the Cenkos Securities Employee Benefit Trust (EBT).
Upon vesting of these awards, and after any off-market sales to the EBT to satisfy the income tax and NIC liability arising on the vesting, Julian Morse (Co-CEO) and Ben Procter (CFO) received and retained 681,423 and 235,578 shares respectively as shown in the table below. Julian Morse elected to satisfy the tax liability arising on vesting from his own funds and therefore retained the total number of vested shares.
| Director /PDMR | Total of DBS and STIP Shares Vesting | Shares retained following any sale to cover tax liability | Resulting Shareholding | Shareholding % of ISC |
| Julian Morse, Co-CEO | 681,432 | 681,423 | 7,921,190 | 2.05% |
| Ben Procter, CFO | 444,487 | 235,578 | 1,832,113 | 0.47% |
| 1 | Details of the persons discharging managerial responsibility | |||||
| a) | Name | Julian Morse | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Co-CEO | ||||
| b) | Initial notification/amendment | Initial | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Full name of the entity | Cavendish plc | ||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||
| b) | Identification Code | GB00BGKPX309 | ||||
| c) | Nature of the transaction | Vesting of ordinary shares under the Short Term Incentive Plan awarded in 2023 | ||||
| d) | Currency | GBP - British Pound | ||||
| e) | Price(s) and Volume(s) |
| ||||
| f) | Aggregated Information - Price - Volume - Total Price | N/A | ||||
| g) | Date of transaction | 8 April 2026 | ||||
| h) | Place of transaction | Outside a trading venue | ||||
| 1 | Details of the persons discharging managerial responsibility | |||||||||
| a) | Name | Ben Procter | ||||||||
| 2 | Reason for the notification | |||||||||
| a) | Position/status | CFO | ||||||||
| b) | Initial notification/amendment | Initial | ||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
| a) | Full name of the entity | Cavendish plc | ||||||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||||||
| b) | Identification Code | GB00BGKPX309 | ||||||||
| c) | Nature of the transaction | Vesting of ordinary shares under the Deferred Bonus Scheme and Short Term Incentive Plan awarded in 2023 and subsequent sale to satisfy the tax and NIC liabilities arising. | ||||||||
| d) | Currency | GBP - British Pound | ||||||||
| e) | Price(s) and Volume(s) | (1) Vesting of awards
| ||||||||
| f) | Aggregated Information - Price - Volume - Total Price | N/A | ||||||||
| g) | Date of transaction | 8 April 2026 | ||||||||
| h) | Place of transaction | Outside a trading venue | ||||||||