REG - Reach PLC - Director/PDMR Shareholding

ReachAnnouncement

16/12/2022 11:30

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RNS Number : 0237K  Reach PLC  16 December 2022

 

16 December 2022

 

Reach plc (the "Company")

 

Notification of Transactions by a Person Discharging Managerial
Responsibilities ("PDMR")

 

Exercise of 2019 Award under the Reach Long-Term Incentive Plan 2012 ("LTIP")
and sale of shares

 

On 4 December 2022, the award granted to the Chief Executive Officer, Mr. Jim
Mullen, under the LTIP on 4 December 2019 vested and became exercisable. On 14
December 2022, Mr. Mullen exercised his LTIP award and a number of the vested
shares have been sold to cover applicable withholding tax and other deductions
arising on exercise (the 'sale'). That sale is ongoing, and a further
announcement will be released once the sale has completed.

 

Once the sale has completed, the remaining shares will be subject to a
two-year holding period from 4 December 2022 to 4 December 2024.

 

The notification below, which have 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                                                         Jim Mullen

 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                                    Exercise of award granted under the LTIP on 4 December 2019

 c)   Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                    Nil       1,013,951
 d)   Aggregated information

      - Aggregated volume                                          1,013,951

      - Price                                                      Nil

 e)   Date of the transaction                                      2022-12-14

 f)   Place of the transaction                                     Outside a trading venue

 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                                    Sale of shares to cover some of the applicable withholding tax and other

                                                            deductions arising on exercise of the award under the LTIP (up to market close
                                                                   on 15 December)

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         £0.986341             320,926

 d)   Aggregated information

      - Aggregated volume                                          320,926

      - Price                                                      £0.986341

 e)   Date of the transaction                                      2022-12-15

 f)   Place of the transaction                                      XLON

d)

Aggregated information

- Aggregated volume

1,013,951

- Price

Nil

e)

 

Date of the transaction

 

 

2022-12-14

f)

 

Place of the transaction

 

Outside a trading venue

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

 

 

Sale of shares to cover some of the applicable withholding tax and other
deductions arising on exercise of the award under the LTIP (up to market close
on 15 December)

 

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

£0.986341

320,926

d)

 

Aggregated information

- Aggregated volume

320,926

- Price

£0.986341

e)

 

Date of the transaction

 

2022-12-15

f)

 

Place of the transaction

 

 XLON

 

 

Enquiries

 Reach                                                                            020 7293 3000
 Lorraine Clover, Group Company Secretary
 Tulchan Communications                                                           020 7353 4200
 Giles Kernick  / David Allchurch

 LEI: 213800GNI5XF3XOATR61

 Classification: 2.2 Information disclosed under article 19 of the Market Abuse
 Regulation.

 

 

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