REG - Chesnara PLC - Director/PDMR Shareholding
26/11/2021 13:00
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RNS Number : 7435T Chesnara PLC 26 November 2021
CHESNARA plc
("Chesnara" or "the Company")
26 November 2021
LEI Number: 213800VFRMBRTSZ3SJ06
NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY ('PDMRs')
Further to the appointment of Steve Murray as Group Chief Executive on 19
October 2021, Chesnara plc (the 'Company') today announces that, under the
terms of his appointment, Steve (a PDMR) was granted awards in the ordinary
shares of the Company under the Chesnara plc 2014 Long-Term Incentive Scheme
to compensate him for remuneration arrangements forfeited on leaving his
former employer, The Royal London Mutual Insurance Society Limited. These
awards were made in accordance with the Company's Directors' Remuneration
Policy and are subject to the Executive Directors' Minimum Shareholding
Policy.
The notification below, which is being made in accordance with the
requirements of Article-19 of the EU Market Abuse Regulation 596/2014 as
retained in UK law by virtue of the European Union (Withdrawal) Act 2018,
provides further detail of the awards granted.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Steven Grant Murray
b) Legal
person
2 Reason for the notification
a) Position/status: Executive Director and Group Chief Executive
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Chesnara plc
b) Legal Entity Identifier: 213800VFRMBRTSZ3SJ06
4 Details of the transaction(s): Parts a-d of this section are 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 Chesnara plc Ordinary Shares of 5 pence each
code)
(GB00B00FPT80)
b) Nature of the transaction GRANT 1
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to a performance target ending 31 December 2021.
Subject to the achievement of the performance target, the option will become
exercisable on 31 December 2021 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 2
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to a performance target ending 31 December 2021.
Subject to the achievement of the performance target, the option will become
exercisable on 30 June 2022 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 3
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to a performance target ending 31 December 2022.
Subject to the achievement of the performance target, the option will become
exercisable on 31 December 2022 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 4
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to performance targets ending 31 December 2022.
Subject to the achievement of the performance target, the option will become
exercisable on 30 April 2023 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 5
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to performance targets ending 30 June 2023.
Subject to the achievement of the performance target, the option will become
exercisable on 30 June 2023 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 6
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to performance targets ending 31 December 2023.
Subject to the achievement of the performance target, the option will become
exercisable on 30 April 2024 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
GRANT 7
Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is
subject to performance targets ending 31 December 2023.
Subject to the achievement of the performance target, the option will become
exercisable on 30 June 2024 and remain exercisable up to and including 26
November 2031 if not exercised before that date.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil GRANT 1
50,456 Ordinary shares of 5p each
Nil GRANT 2
119,089 Ordinary shares of 5p each
Nil GRANT 3
50,456 Ordinary shares of 5p each
Nil GRANT 4
119,089 Ordinary shares of 5p each
Nil GRANT 5
20,722 Ordinary shares of 5p each
Nil GRANT 6
140,105 Ordinary shares of 5p each
Nil GRANT 7
33,625 Ordinary shares of 5p each
d) Aggregated information
- Aggregated volume - 533,542 ORDINARY SHARES OF 5P EACH
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2021-11-26
f) Place of the transaction XOFF
Name of authorised official of issuer responsible for making notification: -
Al Lonie
Date of notification: - 26 November 2021
For further information, please contact:
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651
E - roddy.watt@fwdconsulting.co.uk
(mailto:roddy.watt@fwdconsulting.co.uk)
Notes to Editors
Chesnara is a life and pensions company listed on the London Stock Exchange.
It administers approximately 900,000 policies and operates as Countrywide
Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as
Movestic in Sweden.
Following a three-pillar strategy, Chesnara's primary responsibility is the
efficient administration of its customers' life and savings policies, ensuring
good customer outcomes and providing a secure and compliant environment to
protect policyholder interests. It also adds value by writing profitable new
business in Sweden and the Netherlands and by undertaking value-adding
acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase
its dividend for 17 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk
(http://www.chesnara.co.uk/) ).
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