REG - Cavendish PLC - Directors Dealings

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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%

 

Further details of the vesting of awards and sale to cover tax liability are
included in the notification below, made in accordance with the requirements
of the UK Market Abuse Regulation.

 

For further information, please contact:

 

CONTACTS

Cavendish (Management)
                     Tel: +44 (0) 20 7220 0500

Julian Morse, Co-Chief Executive
Officer                                    investor.relations@cavendish
(mailto:investor.relations@cavendish) .com

John Farrugia, Co-Chief Executive
Officer

Ben Procter, Chief Financial Officer

 

SPARK Advisory Partners (Nominated Advisor)
 

Matt Davis
                                         Tel: +44 (0) 20
3368 3550

 

 

 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)

Price(s) per share  Volume(s)
                                                                  N/A                 681,432

 
 f)  Aggregated Information                                       N/A

     -       Price

     -       Volume

     -       Total Price
 g)  Date of transaction                                          8 April 2026
 h)  Place of transaction                                         Outside a trading venue

 

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

Price(s) per share  Volume(s)
                                                                  N/A                 444,487

 

                                                                  (2)  Sale of shares to satisfy tax and NIC liabilities

Price(s) per share  Volume(s)
                                                                  £0.0875             208,909

 f)  Aggregated Information                                       N/A

     -       Price

     -       Volume

     -       Total Price
 g)  Date of transaction                                          8 April 2026
 h)  Place of transaction                                         Outside a trading venue

 

(2)  Sale of shares to satisfy tax and NIC liabilities

 Price(s) per share  Volume(s)
 £0.0875             208,909

f)

Aggregated Information

-       Price

-       Volume

-       Total Price

N/A

g)

Date of transaction

8 April 2026

h)

Place of transaction

Outside a trading venue

 

 

 

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