REG - Kingfisher PLC - Director/PDMR Shareholding
28/06/2022 12:00
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RNS Number : 4715Q Kingfisher PLC 28 June 2022
KINGFISHER PLC
Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility ('PDMRs')
Kingfisher plc (the 'Company') announces that, on 24 June 2022, awards were
granted to PDMRs to acquire ordinary shares of 15 5/7 pence each in the
Company (the 'Shares') under the Kingfisher Performance Share Plan (the
'KPSP') and the PSP French Free Share Sub Plan (the 'PSP French Sub Plan').
The price per share used to calculate the number of Shares over which the
awards have been granted is 241.03 pence (being the average of the closing
price of the Shares on the main market of the London Stock Exchange between 21
June 2022 and 23 June 2022), in accordance with the rules of the KPSP.
These awards were made in accordance with the Directors' Remuneration Policy
and Kingfisher Performance Share Plan Rules approved by shareholders at the
Company's Annual General Meeting on 22 June 2022. Following these grants,
Thierry and Bernard hold the following interests in the Company's issued share
capital:
Name Position Total number of Shares over which nil-cost options held(1) Total number of Shares
Thierry Garnier Chief Executive Officer 4,793,814 100,000
Bernard Bot Chief Financial Officer 2,751,353 80,000
(1) Dividend equivalents are payable in respect of the shares that vest.
The notifications for each PDMR below, which were made in accordance with the
requirements of the UK Market Abuse Regulations, provide further detail of the
awards granted to each PDMR.
Enquiries:
Chloe Barry
Group Company Secretary
Tel: +44(0) 7768 806248
Email: secretariat@kingfisher.com
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Thierry Garnier
b) Legal
person
2 Reason for the notification
a) Position/status: Chief Executive Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 958,944
d) Aggregated information
- Aggregated volume - 958,944
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Bernard Bot
b) Legal
person
2 Reason for the notification
a) Position/status: Chief Financial Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 640,309
d) Aggregated information
- Aggregated volume - 640,309
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Adela Smeu
b) Legal
person
2 Reason for the notification
a) Position/status: CEO Romania
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 165,360
d) Aggregated information
- Aggregated volume - 165,360
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Elizabeth Messud
b) Legal
person
2 Reason for the notification
a) Position/status: General Counsel
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 248,305
d) Aggregated information
- Aggregated volume - 248,305
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Graham Bell
b) Legal
person
2 Reason for the notification
a) Position/status: CEO B&Q UK and Ireland
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 365,924
d) Aggregated information
- Aggregated volume - 365,924
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Henri Solère
b) Legal
person
2 Reason for the notification
a) Position/status: Chief Offer and Sourcing Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 303,630
d) Aggregated information
- Aggregated volume - 303,630
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Jean-Jacques Van Oosten
b) Legal
person
2 Reason for the notification
a) Position/status: Chief Digital and Technology Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Appendix B.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 485,285
d) Aggregated information
- Aggregated volume - 485,285
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: John Mewett
b) Legal
person
2 Reason for the notification
a) Position/status: CEO Screwfix
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 339,787
d) Aggregated information
- Aggregated volume - 339,787
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Kate Seljeflot
b) Legal
person
2 Reason for the notification
a) Position/status: Chief People Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 306,679
d) Aggregated information
- Aggregated volume - 306,679
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Sebastien Krysiak
b) Legal
person
2 Reason for the notification
a) Position/status: Chief Commercial Officer
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Award of nil-cost options to acquire shares under the KPSP subject to the
conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 304,937
d) Aggregated information
- Aggregated volume - 304,937
- Price - Nil
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Alain Rabec
b) Legal
person
2 Reason for the notification
a) Position/status: CEO France
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Conditional Award to acquire shares under the PSP French Sub Plan subject to
the conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
N/A 341,776
d) Aggregated information
- Aggregated volume - 341,776
- Price - N/A
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Natural person: Pascal Gil
b) Legal
person
2 Reason for the notification
a) Position/status: CEO Castorama Poland
b) Initial notification/amendment Initial notification
3 Details of the Issuer
a) Name Kingfisher plc
b) Legal Entity Identifier: 213800KBMEV7I92FY281
4 Details of the transaction(s): Parts a-d of this section are 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 Kingfisher Ordinary Shares of 15 5/7 pence each
code)
(ISIN: GB0033195214)
b) Nature of the transaction Conditional Award to acquire shares under the PSP French Sub Plan subject to
the conditions set out in Note 1.
c) Price(s) and volume(s) Price(s) Volume(s)
N/A 254,554
d) Aggregated information
- Aggregated volume - 254,554
- Price - N/A
e) Date of the transaction (YYYY - MM - DD) 2022-06-24
f) Place of the transaction Outside a trading venue
Note 1
The awards granted to the PDMRs on 24 June 2022 are subject to continued
employment and the achievement of performance conditions which are measured
over the performance period of 1 February 2022 to 31 January 2025. The vesting
date is 3 years after the grant date.
The performance conditions which apply to these Awards are EPS, ROCE,
Kingfisher's Total Shareholder Return relative to a comparator group
('Relative TSR') and a basket of ESG measures.
The targets and associated weightings attached to these conditions are as
follows:
Target 2024/25 EPS 2024/25 ROCE Relative TSR Basket of ESG conditions
(25% weighting)
(25% weighting) (25% weighting) (25% weighting)
Threshold 36.5p 12.85% 50(th) percentile See table below for detail
(25% Vesting)
Stretch 47.5p 16.30% 75(th) percentile
(100% Vesting)
Target Climate change Reduction in Scope 1 and 2 emissions Forest Positive % of wood and paper responsibly sourced as a % of SKUs Gender Diversity
(8.33% weighting) purchased (8.33% weighting) % of women in senior leadership
(8.33% weighting)
Threshold 31.0% 95.0% 30%
(25% Vesting)
Target 34.0% 98.0% 33%
(50% Vesting)
Stretch 37.8% 99.5% 35%
(100% Vesting)
The definitions used for EPS and ROCE are as per our 2021/22 Annual Report.
The Comparator Group used for the relative TSR condition is the combined
constituents of the FTSE 350 Retailers, FTSE 350 Drug and Grocery Stores as
well as the STOXX 600 Drug and Grocery Stores, as of 1 February 2022.
For the basket of ESG conditions, the following definitions apply:
· Climate Change is the reduction in Scope 1 and Scope 2 carbon
emissions in FY2024/25 from a FY2016/17 baseline.
· Forest Positive is the percentage of wood and paper responsibly
sourced as a % of Stock Keeping Units ('SKUs') purchased in FY2024/25.
· Gender Diversity is the percentage of women in senior leadership
roles at the end of FY2024/25 (on 31 January 2025).
For the EPS, ROCE and Relative TSR performance conditions, the award vests on
a straight-line basis between threshold and stretch. For the ESG performance
conditions, the award vests on a straight-line basis between threshold and
target and between target and stretch. For all performance conditions, the
award does not vest for performance below threshold for that performance
condition. Each performance condition is measured independently.
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