REG - JTC PLC - EIP Award Vesting

JTCAnnouncement

27/07/2022 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220727:nRSa8325Ta&default-theme=true

RNS Number : 8325T  JTC PLC  27 July 2022

 

27 July 2022

 

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

 

EIP Award Vesting

 

Further to the announcement published on 22 July 2021, JTC further announces
the vesting of the awards granted on 22 July 2021 under the JTC Employee
Incentive Plan ("EIP"), which vested in full on 22 July 2022.

Members of the JTC Group Holdings Board and Persons Discharging Managerial
Responsibilities ("PDMRs") have received awards over Ordinary Shares of £0.01
each in Company ("Ordinary Shares"), as detailed below.

The Remuneration Committee of JTC PLC agreed that Ordinary Shares would be
sold to cover PDMRs' immediately arising income tax and national insurance
liabilities.

The awards were satisfied by the transfer of existing Ordinary Shares held by
the Trustee of the JTC PLC EBT to each participant on 25 July 2022.

The table below shows the number of Ordinary Shares vesting, the number of
Ordinary Shares sold and the number of Ordinary Shares received following the
sales.

 PDMRs              Number of Ordinary Shares vested  Number of Ordinary Shares sold to satisfy income tax and national insurance  Additional Ordinary Shares sold  Number of Ordinary Shares retained
                                                      liabilities

 Iain Johns         14,276                            -                                                                            -                                14,276

 Dean Blackburn     13,164                            -                                                                            -                                13,164
 Jonathan Jennings  11,245                            (5,734)                                                                      -                                5,111
 Michael Halloran   2,030                             (618)                                                                        -                                1,412
 Richard Ingle      761                               -                                                                            -                                761

 

EIP Award Grant

 

JTC was one of the first professional services firms to recognise the
importance of employee shared ownership in attracting and retaining high
quality people, keeping them motivated and dedicated to delivering exceptional
performance.

The EIP, like its predecessor schemes, is designed to recognise and reward
employees' contribution to the long-term performance of the whole Group,
linked to JTC's multi-year business plans.

Following the successful delivery of JTC's 'Odyssey Era' business plan, which
ran from 2018 to the end of 2020, the Remuneration Committee approved the
first award made under the EIP to all eligible employees on 22 July 2021.

Given the importance placed on all JTC employees being direct 'owners' of the
business, the Remuneration Committee has been pleased to approve a contingent
'JTC Joiner' award to all permanent employees who have joined the Group since
the first award made under the EIP, and who have successfully completed any
applicable probationary period.

An aggregate award of 14,490 Ordinary Shares was granted to 308 employees on
22 July 2022 under the rules of the EIP in the form of a conditional right to
receive a share award on the second anniversary of Grant, subject to a
continuing employment condition.

No Executive Director or PDMR of the Company has received an award.

The awards will be satisfied by the transfer of existing Ordinary Shares held
by the Trustee of the JTC PLC EBT on vesting.

It is intended that similar 'JTC Joiner' awards will be granted to all future
permanent employees of the Group under the rules of the EIP.

The following notifications are intended to satisfy the Company's obligations
under Article 19 of the Market Abuse Regulations in respect of the EIP Awards
which vested on 22 July 2022.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     1.   Iain Johns

                                               2.   Dean Blackburn

                                               3.   Jonathan Jennings

                                               4.   Michael Halloran

                                               5.   Richard Ingle

 2   Reason for the notification
 a)  Position/Status:                          1.   Group Head of Private Client Services and PDMR

                                               2.   Chief Commercial Officer and PDMR

                                               3.   Group Head of Institutional Client Services and PDMR

                                               4.   Global Head of Technology Strategy and PDMR

                                               5.   Chief Risk Officer and PDMR

 b)  Initial Notification/Amendment:           Initial Notification
 3   Details of the issuer, emission allowance market participation, auction
     platform, auctioneer or auction monitor
 a)  Name:                                     JTC PLC
 b)  LEI:                                      213800DVUG4KLF2ASK33
 4.  Details of 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:  Ordinary shares of £0.01 each

 
     Identification code:

                                               JE00BF4X3P53
 b)  Nature of the transaction:                Vesting of share awards under the Employee Incentive Plan
 c)  Price(s) and volume(s):                   Price(s)                         Volume(s)
                                               Nil                              1.   14,276

                                                                                2.   13,164

                                                                                3.   5,111

                                                                                4.   1,412

                                                                                5.   761

 d)  Aggregated volume:                        N/A

     Price:
 e)  Date of the Transaction:                  25 July 2022
 f)  Place of the Transaction:                 Outside trading venue

 

 

For further information please contact:

 

Miranda Lansdowne

JTC (Jersey) Limited

Company Secretary

+44 1534 700 000

Miranda.Lansdowne@jtcgroup.com

 

 

About JTC

 

JTC is a publicly listed, global professional services business with deep
expertise in fund, corporate and private client services. Every JTC person is
an owner of the business and this fundamental part of our culture aligns us
with the best interests of all our stakeholders. Our purpose is to maximize
potential and our success is built on service excellence, long-term
relationships and technology capabilities that drive efficiency and add value.

 

www.jtcgroup.com (http://www.jtcgroup.com)

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  DSHFLFFDDAIRFIF