REG - Fisher (James) - Notification of Director’s Interests in Shares

James Fisher And SonsAnnouncement

20/12/2023 18:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231220:nRST5302Xa&default-theme=true

RNS Number : 5302X  Fisher (James) & Sons plc  20 December 2023

20 December 2023

James Fisher and Sons plc

Notification of Director's Interests in Shares

On 19 December 2023, an award over ordinary shares of 25 pence each in James
Fisher and Sons plc (the "Company") was made under the James Fisher and Sons
2021 Long Term Incentive Plan, to the following person discharging managerial
responsibilities ("PDMR"):

 PDMR                Number of shares held under award

 Karen Hayzen-Smith  62,358

 

No consideration was paid for the grant of the award which is structured as a
restricted share award. This award is being granted to replace certain
interests held by Karen in connection with her former role and which were
forfeited on her joining the Company.

The award will normally vest on the 19 December 2026 subject to the
satisfaction of the performance conditions set by the Remuneration Committee
of the Company and which are consistent with those attaching to the 2023 LTIP
award granted to other eligible participants in June 2023. The following three
performance conditions apply to the award:

50 per cent. of the award is subject to a performance condition based on the
Company's earnings per share ("EPS") performance over three financial years
commencing with the financial year in which the award is granted. None of this
element shall vest if the Company's EPS for the 2025 financial year is less
than 50 pence. 25 per cent. of this element shall vest if 2025 EPS is 50
pence, rising on a straight-line sliding scale to 100 per cent. vesting of
this element if 2025 EPS is at least 62 pence.

30 per cent. of the award is subject to a performance condition comparing the
Company's total shareholder return ("TSR") against a comparator group
comprising the constituents of the FTSE 250 Index (excluding investment
trusts) at the start of the TSR performance period. TSR shall be measured over
three years commencing on 6 April 2023. None of this element shall vest if the
Company's relative TSR over this period is below the median TSR of the
comparator group.  25 per cent. of this element shall vest if the Company's
TSR is in line with the median TSR of the comparator group, rising on a
straight-line sliding scale to 100 per cent. vesting of this element if TSR is
at least upper quartile.

The remaining 20 per cent. of the award is subject to a performance condition
based on the Company's return on capital employed ("ROCE") performance over
three financial years commencing with the financial year in which the award is
granted. None of this element shall vest if the Company's ROCE for the 2025
financial year is less than 10%. 25 per cent. of this element shall vest if
2025 ROCE is 10%, rising on a straight-line sliding scale to 100 per cent.
vesting of this element if 2025 ROCE is at least 13%.

The Remuneration Committee retains the discretion to adjust the awards at
vesting to ensure that all relevant factors are taken into account, including
the consideration of any windfall gains.

This announcement, including the notification below, is made in accordance
with the requirements of the Market Abuse Regulations.

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Karen Hayzen-Smith
 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                                                         James Fisher and Sons plc
 b)  LEI                                                          213800J975E5OYR6S216
 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  Ordinary Shares of 25 pence each in James Fisher and Sons plc

     Identification code                                          GB0003395000

 b)  Nature of the transaction                                    Grant of a restricted share award under the James Fisher and Sons 2021 Long
                                                                  Term Incentive Plan. The award will ordinarily vest on 19 December 2026
                                                                  subject to the achievement of performance conditions.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       62,358
 d)  Aggregated information                                       Aggregated information

     -       Aggregated volume                                    62,358

     -       Price                                                Nil
 e)  Date of the transaction                                      19 December 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-       Aggregated volume

-       Price

Aggregated information

62,358

Nil

e)

Date of the transaction

19 December 2023

f)

Place of the transaction

Outside a trading venue

 

For further information:

 James Fisher and Sons plc  Jean Vernet  Chief Executive Officer  020 7614 9503

 

 

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHTMBPTMTMTBAJ