REG - Polar Capital Hldgs - Director/PDMR Shareholding
13/07/2022 10:30
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RNS Number : 3329S Polar Capital Holdings PLC 13 July 2022
13 July 2022
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Long Term Incentive Plans
On 11 July 2019 Gavin Rochussen, John Mansell, Iain Evans and Alexander Black
were granted awards under the Long Term Incentive Plan ("LTIP"), as part of
the Company's Equity Incentive Plan. Details of the original grant are
contained in RNS No. 6003F.
The terms of the LTIP award provide for vesting in equal tranches on the
third, fourth and fifth anniversaries of grant, subject to continued
employment and the achievement of an EPS performance condition by reference to
the adjusted total EPS for the year ended 31 March 2022. The vesting criteria
would be 50% vesting on achievement of adjusted diluted total EPS of 41.1p;
100% vesting on achievement of adjusted diluted total EPS of 62.2p and above;
and pro-rata straight-line vesting for an adjusted diluted total EPS achieved
between the 50% and 100% targets.
The third anniversary of this award was on 11 July 2022.
The adjusted diluted total EPS for the 2021/22 financial year was 56.0p, which
based on the pro-rata straight-line basis described above, meant that there
would be an 85% vesting of the 2019 LTIP Award.
Conditional Share Awards
On 11 July 2019, Samir Ayub and Nicholas Farren were granted conditional
awards as part of the Company's Equity Incentive Plan, details of which are
contained in RNS No. 6708F.
The terms of these conditional share awards provided for the vesting on the
third, fourth and fifth anniversaries of grant, subject to continued
employment. The third anniversary of this award was also on 11 July 2022.
The following table provides details of the vesting of the awards:
Name Title Vesting 2019 LTIP /Conditional Awards Shares vested on 11 July 2022 Shares vested on 11 July 2023 Shares vested on 11 July 2024
(1(st) Vesting Date) (2(nd) Vesting Date) (3(rd) Vesting Date)
Gavin Rochussen Chief Executive Officer 346,829 115,609 115,610 115,610
Samir Ayub Finance Director 10,000 3,333 3,333 3,334
John Mansell Director 174,358 58,119 58,119 58,120
Alexander Black Chief Investment Officer 43,589 14,529 14,530 14,530
Iain Evans Global Head of Distribution 174,358 58,119 58,119 58,120
Nicholas Farren Chief Operating Officer 10,000 3,333 3,333 3,334
On each vesting date there will be a sale of sufficient shares to cover tax
liabilities and the remaining shares will be retained under the holding
period. These awards have been satisfied by the release of shares from the
Employee Benefit Trust to the participants, who have established nominee
accounts with the EBT for the retention of the shares during the holding
period.
Details of the first vesting and sale of shares for each PDMR is provided
below:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Rochussen
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 115,609
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Rochussen
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 65,351
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Samir Ayub
2 Reason for the notification
a) Position/status Finance Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 conditional award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 3,333
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Samir Ayub
2 Reason for the notification
a) Position/status Finance Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 conditional
award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 1,884
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Mansell
2 Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 58,119
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Mansell
2 Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 32,853
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alexander Black
2 Reason for the notification
a) Position/status Chief Investment Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 14,529
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alexander Black
2 Reason for the notification
a) Position/status Chief Investment Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 8,213
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Iain Evans
2 Reason for the notification
a) Position/status Global Head of Distribution
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 58,119
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Iain Evans
2 Reason for the notification
a) Position/status Global Head of Distribution
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 32,853
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
trt
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nicholas Farren
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on vesting of one
third of the 2019 conditional award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 3,333
e) Date of the transaction 11-07-2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nicholas Farren
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of one third of the 2019 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
473.18p 1,884
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 11-07-2022
f) Place of the transaction London Stock Exchange, AIM
Enquiries:
Polar
Capital +44
(0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint
Broker
+44 (0)20 3597 8680
Andrew Buchanan
Camarco
+44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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