Director/PDMR Shareholding

DWF

17/08/2021 17:17

RNS Number : 9505I

DWF Group PLC

17 August 2021

 

 

DWF Group plc

("DWF" or "the Company")

LEI: 213800O9QREOHTOGQ266

17 August 2021

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs')

On 16 August 2021, the Company granted to each of the PDMRs listed in the table below a LTIP award over such number of Ordinary Shares of 1p each in the Company (Shares) as is set out below (the Awards). The Awards are conditional awards granted under the DWF Group plc Equity Incentive Plan (the EIP).

Name
Maximum number of Shares under Award
Executive Director
Sir Nigel Knowles
819,346
Chris Stefani
353,356
Matthew Doughty
331,272

The Awards will vest after three years, in accordance with the EIP rules, subject to continued employment and the satisfaction of the performance conditions relating to earnings per share ("EPS") growth, return on capital employed ("ROCE") growth and cash conversion rate over a three-year performance period from 1 May 2021 to 30 April 2024.

 

The performance targets for the LTIP awards are set out below:

Performance condition and percentage of award opportunity
Threshold
(20%)
Target
(50%)
Maximum
(100%)
Cumulative three-year EPS (40% weighting)
33.8p
37.6p
41.3p
Average annual ROCE (40% weighting)
26%
29%
32%
Average cash conversion (20% weighting)
82%
91%
101%

 

In accordance with the EIP rules, the vested Shares will be subject to a two-year holding period before the Shares are released. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of £1.132 was used.

On 16 August 2021, the Company also granted to each of the PDMRs listed in the table below a Deferred Bonus Plan Award over such number of Shares as is set out below (the "DBP Awards"). The DBP Awards represent 50% of the bonus awarded for the period up to 30 April 2021. The DBP Awards are conditional awards granted under the DWF Group plc Deferred Bonus Plan or the DWF LLP Sub-group Deferred Bonus Plan (the "DBP").

Name
Maximum number of Shares under Award
Executive Director
Sir Nigel Knowles
130,300
Chris Stefani
130,300
Matthew Doughty
130,299
Michele Cicchetti
56,349

 

The DBP Awards will vest after three years, in accordance with the DBP rules, subject to continued employment. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of £1.132 was used.

The notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

For further information please contact:

Darren Drabble
+44 (0)20 7280 8929
Company Secretary


 

1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Sir Nigel Knowles
2
Reason for the notification
a)
Position/status
Group Chief Executive Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
DWF Group plc
b)
Legal Entity Identifier
213800O9QREOHTOGQ266
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
Ordinary shares of £0.01 each
ISIN: GB00BJMD6M39
b)
Nature of the transaction
Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)
Currency
GBP
d)
Price(s) and volume(s)
Price(s)
Volume(s)
nil
819,346
nil
130,300
e)
Aggregated information
- Aggregated volume
- Aggregated Price
- Aggregated Total
n/a
f)
Date of the transaction
2021-08-16
g)
Place of the transaction
Outside of a trading venue

 

1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Chris Stefani
2
Reason for the notification
a)
Position/status
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
DWF Group plc
b)
Legal Entity Identifier
213800O9QREOHTOGQ266
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
Ordinary shares of £0.01 each
ISIN: GB00BJMD6M39
b)
Nature of the transaction
Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)
Currency
GBP
d)
Price(s) and volume(s)
Price(s)
Volume(s)
nil
353,356
nil
130,300
e)
Aggregated information
- Aggregated volume
- Aggregated Price
- Aggregated Total
n/a
f)
Date of the transaction
2021-08-16
g)
Place of the transaction
Outside of a trading venue

 

1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Matthew Doughty
2
Reason for the notification
a)
Position/status
Group Chief Operating Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
DWF Group plc
b)
Legal Entity Identifier
213800O9QREOHTOGQ266
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
Ordinary shares of £0.01 each
ISIN: GB00BJMD6M39
b)
Nature of the transaction
Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)
Currency
GBP
d)
Price(s) and volume(s)
Price(s)
Volume(s)
nil
331,272
nil
130,299
e)
Aggregated information
- Aggregated volume
- Aggregated Price
- Aggregated Total
n/a
f)
Date of the transaction
2021-08-16
g)
Place of the transaction
Outside of a trading venue

 

1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Michele Cicchetti
2
Reason for the notification
a)
Position/status
Partner Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
DWF Group plc
b)
Legal Entity Identifier
213800O9QREOHTOGQ266
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
Ordinary shares of £0.01 each
ISIN: GB00BJMD6M39
b)
Nature of the transaction
Grant of conditional awards over such number of Ordinary Shares of 1p each under the DBP
c)
Currency
GBP
d)
Price(s) and volume(s)
Price(s)
Volume(s)
nil
56,349
e)
Aggregated information
- Aggregated volume
- Aggregated Price
- Aggregated Total
n/a
f)
Date of the transaction
2021-08-16
g)
Place of the transaction
Outside of a trading venue

 

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