Luceco logo

LUCE - Luceco News Story

346.5p 17.0  5.2%

Last Trade - 1:47pm

Sector
Industrials
Size
Mid Cap
Market Cap £529.8m
Enterprise Value £548.1m
Revenue £176.2m
Position in Universe 595th / 1827

Luceco PLC - Director/PDMR Shareholding

Tue 27th November, 2018 4:35pm
RNS Number : 6760I
Luceco PLC
27 November 2018
 

LUCECO PLC (THE "COMPANY")

 

AWARDS UNDER LUCECO 2017 PERFORMANCE SHARE PLAN

 

Grant of an award to Matthew Webb

 

On 21 February 2018 shortly following his appointment, the Company announced that Matthew Webb, the Company's Chief Financial Officer, had been granted an award under the Luceco 2017 Performance Share Plan (the "PSP").  This award was in the form of a nil-cost option in conjunction with a linked tax qualifying option. 

 

Due to an administrative error this award was not formally granted to Mr Webb.  As the nil-cost option operates in conjunction with a linked tax qualifying option it was not possible to rectify the terms of the award. 

 

On 23 November 2018 the Company therefore made a replacement award under the PSP.

 

The award is in the form of a nil-cost option over 729,040 ordinary shares of 0.05 pence in the Company.

In addition Mr Webb has been awarded a linked tax qualifying option over 72,904 shares at an exercise price of 41.15 pence.  On exercise the number of shares under the nil-cost option will be reduced proportionally to take account of any gain on the exercise of the tax qualifying option such that Mr Webb will not receive a greater number of shares than is subject to the nil-cost option. 

 

The award will vest subject to the satisfaction of performance conditions measuring the Company's earnings per share and total shareholder return performance.  Earnings per share will be measured over the three financial years from 1 January 2018 to 31 December 2020.  Total shareholder return will be measured over the three year period from 23 November 2018 to 22 November 2021.

 

No consideration was paid for the award.

 

The Remuneration Committee of the Company believes that making this award to Mr Webb is in the best interests of the Company.

 

Surrender of a PSP Award by John Hornby

 

On 27 November 2018, John Hornby, the Company's Chief Executive Officer, surrendered the award granted to him under the PSP on 27 July 2018.  This award was in the form of a nil-cost option over 431,415 ordinary shares of 0.05 pence in the Company. 

 

This notification is made in accordance with the Market Abuse Regulation ("MAR"). Template notifications required by the MAR are attached to this announcement.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Matt Webb

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

Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

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 £0.0005

 

  GB00BZC0LP49

b)

Nature of transaction

An award of Ordinary Shares made under the Luceco PLC Performance Share Plan ("PSP") on 23 November 2018 in the form of 1) a nil-cost option and 2) a linked tax qualifying option

c)

Price(s) and volume(s)

Price(s)

Volume(s)



  1: nil

2: £0.4115

  1: 729,040

2: 72,904

d)

Aggregated information

-      Aggregated volume

-      Price

 

N/A

e)

Date of the transaction

23/11/2018

f)

Place of the transaction

Outside a trading venue (XOFF)

 


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 or visit www.rns.com.
 
END
 
 
DSHBLBDBXXDBGIR
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.