REG - GVC Holdings PLC - Director/PDMR Shareholding

EntainAnnouncement

27/03/2019 07:05

RNS Number : 0889U
GVC Holdings PLC
27 March 2019
 


 
 
 
 
 
 
 
 
 
 
27 March 2019
GVC Holdings PLC
("GVC" or "Company")
 
Notification of Transactions by Persons Discharging Managerial Responsibility or Persons Closely Associated
 
Awards granted under the GVC Holdings PLC 2017 Long Term Incentive Plan ("LTIP")  and the Annual and Deferred Bonus Plan ("ADBP")

 
The following awards over GVC ordinary shares of €0.01 each ("Shares") were granted to Executive Directors of the Company on 26 March 2019 as set out below:
 




Name


Plan


Number of Shares subject to the Award




Kenneth Alexander
CEO


LTIP - 2019 grant


344,332
 




Kenneth Alexander
CEO


ADBP - 2018 Deferred Bonus


109,293




Rob Wood
CFO


LTIP - 2019 grant


197,044
 




 
The allocation for the CEO LTIP grant was calculated by the GVC Remuneration Committee using its discretion and adopting the share price at the close on 5 March 2019 of £6.97 and therefore represents a 27% allocation discount. 
 
The LTIP awards will normally vest on 26 March 2022, being the third anniversary of the award date subject to a. continuous employment and b. the satisfaction of the relative Total Shareholder Return (50%) and the cumulative Earning Per Share (50%) performance conditions, details of which will be disclosed in the 2018 Directors' Remuneration Report. 
 
In the Company's remuneration policy, 50% of the CEO's annual bonus is deferred in Shares.  The above deferred bonus award has been granted in respect of the CEO's annual bonus for the 2018 financial year. This award will normally vest on 26 March 2022, being the third anniversary of the award date, subject to continuous employment.
 
The Company's remuneration policy is focused on incentivising Executive Directors to execute the strategy and create value for shareholders and consequently the remuneration arrangements are heavily weighted towards incentivisation through share awards.  Together with existing share incentive awards and those announced today, Kenneth Alexander now has the following Share interests in GVC:
 




Holding / Interest


Number of Shares




Shareholding


666,666




Two deferred Share awards under the two GVC Annual and Deferred Bonus Plan


209,869




Three awards under the GVC Long-term Incentive Plan


812,257




Total number of Shares


1,688,792




 
Via the remuneration policy it is anticipated that this Share interest will build significantly over time dependent on the performance of GVC's business.
 
Kenneth Alexander (CEO) said:
"I remain totally committed to GVC for the long-term, and as such I will not sell any further shares in GVC while I am CEO.  We have had an excellent start to the year and I look forward to updating on progress in our Q1 trading update on 5th April 2019 and at the Capital Markets Day on 16th May 2019."
 
 
 
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
 
 
For further information:




GVC Holdings PLC


 




Kenneth Alexander, Chief Executive


 




Rob Wood, Chief Financial Officer


 




Paul Tymms, Director of Investor Relations and Corporate Communications


(investors@gvc-plc.com)




 


 




Media enquiries:


 




Buchanan Communications


 




David Rydell / Chris Lane


Tel: +44 (0) 20 7466 5000




 
 
 
 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Kenneth Alexander




2


Reason for the notification




a)


Position/status


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


GVC Holdings PLC




b)


LEI


213800GNI3K45LQR8L28




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 GVC Holdings PLC of €0.01 each 

 
IM00B5VQMV65




b)


Nature of the transaction


Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil


 344,332




 




d)


Aggregated information




-


Aggregated volume




-


Price




 


 
344,332 ordinary shares of €0.01 each


Nil consideration




e)


Date of the transaction


26 March 2019




f)


Place of the transaction


Outside a trading venue




 
 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Kenneth Alexander




2


Reason for the notification




a)


Position/status


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


GVC Holdings PLC




b)


LEI


213800GNI3K45LQR8L28




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 GVC Holdings PLC of €0.01 each 

 
IM00B5VQMV65




b)


Nature of the transaction


Grant of Conditional shares under the GVC Holdings PLC Annual and Deferred Bonus Plan




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil


 109,293




 




d)


Aggregated information




-


Aggregated volume




-


Price




 


 
109,293 ordinary shares of €0.01 each


Nil consideration




e)


Date of the transaction


26 March 2019




f)


Place of the transaction


Outside a trading venue




 
 
 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Rob Wood




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


GVC Holdings PLC




b)


LEI


213800GNI3K45LQR8L28




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 GVC Holdings PLC of €0.01 each 

 
IM00B5VQMV65




b)


Nature of the transaction


Grant of Conditional shares under the GVC Holdings PLC 2017 Long Term Incentive Plan




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil


197,044
 




 




d)


Aggregated information




-


Aggregated volume




-


Price




 


 
197,044 ordinary shares of €0.01 each


Nil consideration




e)


Date of the transaction


26 March 2019




f)


Place of the transaction


Outside a trading venue




 
 




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