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CSN - Chesnara News Story

326.5p -8.5  -2.5%

Last Trade - 14/02/20

Sector
Financials
Size
Mid Cap
Market Cap £490.0m
Enterprise Value £399.5m
Revenue £539.3m
Position in Universe 570th / 1833

Chesnara PLC - Director/PDMR Shareholding

Mon 9th September, 2019 2:11pm
RNS Number : 6955L
Chesnara PLC
09 September 2019
 

CHESNARA plc

("Chesnara" or "the Company")

 

LEI Number: 213800VFRMBRTSZ3SJ06

09 September 2019

NOTIFICATION OF PDMR DEALING

 

 

 

Chesnara plc (the 'Company') today announces that the following PDMR has exercised options over 95,091 ordinary shares from awards made under the 2014 Chesnara Long Term (LTI) and Short Term (STI) Incentive Schemes.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Deane

2

Reason for the notification

a)

Position/status

Group 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

Chesnara plc

b)

LEI

213800VFRMBRTSZ3SJ06

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 and identification code

Chesnara plc Ordinary shares of 5 pence each (Shares)

ID Code: (GB00B00FPT80)

b)

Nature of the transaction

 

1.   Exercise of options over 68,516 shares under the 2014 Long Term Incentive scheme.

2.   Exercise of options over 26,575 shares under the 2014 Short Term Incentive scheme.

c)

Price(s) and volume(s)

1.   Price(s): nil.         Volume: 68,516.

2.   Price(s): nil.         Volume: 26,575.

d)

Aggregated information

N/A

e)

Date of the transaction

09 September 2019

f)

Place of the transaction

1.   XOFF

2.   XOFF

 

The above notification is made in accordance with the requirements of the EU Market Abuse Regulation.

 

 

For further information, please contact: -

 

Roddy Watt

Director, Capital Markets

FWD

Forward thinking communications

 

T - 020 7280 0651  

E - roddy.watt@fwdconsulting.co.uk 

 

Notes to Editors

Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.

 

CA plc is a UK life assurance subsidiary that is closed to new business.  In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for £47.8m.  With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc.  Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for £63.5 million.  With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc.  On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for £39.3m.  On 31 December 2014 the PL business transferred into CA plc.  CA plc operates an outsourced business model.

 

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for £20 million.  The company is open to new business and seeks to grow its position in the Swedish unit-linked market.  Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.

 

The Waard Group, a Netherlands-based Group comprising two closed book insurance companies (life and income protection) and a servicing company, was acquired on 19 May 2015 for €69.9m from DSB Beheer B.V., a Dutch financial services Group.  The group comprises Waard Leven N.V., Waard Schade N.V. and Waard Verzekeringen B.V.  The portfolio of the Waard Group is predominantly term life policies with some unit linked and income protection policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzekering Maatschappij N.V. ('LGN') for €161.2 million. The business was renamed Scildon, is in the Dutch life assurance market and, as with our Swedish subsidiary Movestic, it writes protection and pension new business.

 

Further details are available on the Company's website (www.chesnara.co.uk).

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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