RNS Number : 7029E
Reach PLC
11 April 2025
11 April 2025
Reach plc (the Company)
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Grant of 2025 Awards under the Reach Long Term Incentive Plan (LTIP)
On 10 April 2025, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors under the LTIP.
The number of shares under the LTIP options has been calculated using the three-month average share price to the date of grant of £0.8047 per share.
Vesting of the LTIP options is subject to the achievement of performance conditions over a three-year period, as set out on pages 102 and 103 in the Company's 2024 Annual Report.
Vested LTIP options will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability).
The notifications below, which have been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Grant of 2025 Awards under the Reach Restricted Share Plan (RSP)
On 10 April 2025, the independent trustee (the Trustee) of the Company's Employee Benefit Trust based in Jersey (the Trust) notified the Company it has granted restricted share awards to the following Director under the RSP. The number of shares subject to the restricted share awards has been calculated using the same three-month average share price as for the LTIP options noted above.
Under the terms of the RSP, the participant is the beneficial owner of the restricted shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of the three-year vesting period (the Restricted Period).
During the Restricted Period, a participant may not dispose of the Restricted Shares, and cannot vote or receive any dividends in respect of the restricted shares. An additional award of shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.
The notifications below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Piers North
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
Reach plc
b)
LEI
213800GNI5XF3XOATR61
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 10p Shares
Identification code
GB0009039941
b)
Nature of the transaction
Grant of nil-cost share options under the Reach Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
733,706
d)
Aggregated information
- Aggregated volume
N/A - single transaction
- Price
e)
Date of the transaction
2025-04-10
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Darren Fisher
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
Reach plc
b)
LEI
213800GNI5XF3XOATR61
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 10p Shares
Identification code
GB0009039941
b)
Nature of the transaction
a. Grant of nil-cost share options under the Reach Long Term Incentive Plan b. Grant of restricted shares under the Reach Restricted Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
a.
£nil
718,702
b.
£nil
234,870
d)
Aggregated information
- Aggregated volume
953,572
- Price
£nil
e)
Date of the transaction
2025-04-10
f)
Place of the transaction
Outside a trading venue
Enquiries
Reach
020 7293 3000
Laura Harris, Group Company Secretary
Teneo
020 7353 4200
Giles Kernick
LEI:213800GNI5XF3XOATR61 Classification:2.2 Information disclosed under article 19 of the Market Abuse Regulation.
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