REG - Hornby PLC - Long Term Incentive Plan <Origin Href="QuoteRef">HRN.L</Origin>
RNS Number : 1140MHornby PLC26 July 2017HORNBY PLC
Hornby Plc ("Hornby", the "Company"), the international models and collectibles group, announces that as a result of the mandatory unconditional cash offer made for the Company on 23 June 2017 by Phoenix UK Fund Ltd ("Phoenix") (the "Offer"), the Long Term Incentive Plan("LTIP") announced in December 2016 was triggered, resulting in the vesting of the LTIP awards on the date on which the Offer became wholly unconditional.
Accordingly, certain awards have been made to participants of the LTIP as shown below:
PDMR
Number of shares in relation to which the LTIP award vested
Cash settlement amount determined by reference to 32.375 pence per share
Steve Cooke
222,543
72,048
David Mulligan
62,312
20,173
Red McKay
67,653
21,902
Enquiries:
Hornby Plc
01843 233500
Steve Cooke, Chief Executive
David Mulligan, Group Finance Director
Numis Securities Limited
020 7260 1000
Oliver Cardigan (Nomad)
Paul Gillam
Tom Ballard
Capital Access Group
020 3763 3400
Scott Fulton
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Steve Cooke
2
Reason for Notification
a)
Position/status
Chief Executive
b)
Initial notification/Amendment
Initial Announcement
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Hornby Plc
b)
LEI
549300WP2GJODSTKY488
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
Cash settlement of a right to otherwise receive 222,543 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016
N/A
b)
Nature of the transaction
Cash settlement of a right to otherwise receive 222,543 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
0.3237
222,543
d)
Aggregated information
- Aggregated volume
- Price
222,543
72,048
e)
Date of the transaction
21 July 2017
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David Mulligan
2
Reason for Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial Announcement
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Hornby Plc
b)
LEI
549300WP2GJODSTKY488
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
Cash settlement of a right to otherwise receive 62,312 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016
N/A
b)
Nature of the transaction
Cash settlement of a right to otherwise receive 62,312 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
0.3237
62,312
d)
Aggregated information
- Aggregated volume
- Price
62,312
20,173
e)
Date of the transaction
21 July 2017
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Red McKay
2
Reason for Notification
a)
Position/status
Supply Chain Director
b)
Initial notification/Amendment
Initial Announcement
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Hornby Plc
b)
LEI
549300WP2GJODSTKY488
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
Cash settlement of a right to otherwise receive 67,653 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted under the Hornby Plc Long Term Incentive Plan 2016
N/A
b)
Nature of the transaction
Cash settlement of a right to otherwise receive 67,653 ordinary shares of Hornby Plc in connection with the exercise of a performance share award granted on 20 December 2016 under the Hornby Plc Long Term Incentive Plan 2016 following early vesting of the performance share award as a result of a mandatory cash offer made by Phoenix UK Fund Ltd to acquire the entire issued share capital of Hornby Plc.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
0.3237
67,653
d)
Aggregated information
- Aggregated volume
- Price
67,653
21,902
e)
Date of the transaction
21 July 2017
f)
Place of the transaction
Outside a trading venue
This information is provided by RNSThe company news service from the London Stock ExchangeENDDSHLIFLRDSIRFID
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