REG - SAGA Plc - Director/PDMR Shareholding

SagaAnnouncement

08/07/2022 11:00

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RNS Number : 8454R  SAGA PLC  08 July 2022

8 July 2022

SAGA PLC (THE COMPANY) - DIRECTOR/PDMR SHAREHOLDING

Pursuant to the notification obligations under Article 19 of the Market Abuse
Regulation, the Company hereby notifies the following changes in the interests
of directors and persons discharging managerial responsibility (PDMRs) in
Ordinary Shares of 15 pence each in the Company (Shares).

Saga Transformation
Plan

Following the approval of the Company's Saga Transformation Plan (the STP) by
the Company's shareholders at the 2022 Annual General Meeting (the 2022 AGM),
the Company hereby announces the grant of awards to Executive Directors under
the STP.

Participation Rights under the STP entitle the participant to receive, subject
to the rules of the STP, a proportion (the Participant Proportion) of the
Company's Total Shareholder Return above the qualifying hurdle of £6.00.

This value will be delivered through the grant of nil-cost options over Shares
after a 5-year performance period.

More details of how the STP operates can be found in the Notice of 2022 AGM
which can be found on our website at www.corporate.saga.co.uk/investors/agm.

Details of the award for the Chief Executive Officer and Chief Financial
Officer are outlined below.

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         1. Euan Sutherland

                                                                  2. James Quin
 2   Reason for the notification
 a)  Position/status                                              1. Director, Group Chief Executive Officer

                                                                  2. Director, Group 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                                                         Saga plc
 b)  LEI                                                          2138004WWUJN94K2LH95
 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 15 pence

     Identification code
                                                                  GB00BMX64W89
 b)  Nature of the transaction                                    1. Grant of a conditional right, subject to the rules of the STP, to receive
                                                                  the value by which the Company's Total Shareholder Return exceeds the
                                                                  qualifying hurdle of £6.00, multiplied by 12.5% to form the STP Pool. This is
                                                                  then multiplied by a Participation Proportion of 17.5%* (the CEO Award Value).
                                                                  The CEO Award Value will be delivered following the assessment of the
                                                                  Company's total shareholder return after the 5-year performance period by the
                                                                  grant of a nil-cost option over Shares.

                                                                  2. Grant of a conditional right, subject to the rules of the STP, to receive
                                                                  the value by which the Company's Total Shareholder Return exceeds the
                                                                  qualifying hurdle of £6.00, multiplied by 12.5% to form the STP Pool. This is
                                                                  then multiplied by a Participation Proportion of 10.5%* (the CFO Award Value).
                                                                  The CFO Award Value will be delivered following the assessment of the
                                                                  Company's total shareholder return after the 5 year performance period by the
                                                                  grant of a nil-cost option over Shares.
 c)  Price(s) and volume(s)                                       Price(s)                                  Volume(s)
     1. £Nil                                                                                                1. Nil

     2. £Nil                                                                                                2. Nil
 d)  Aggregated information

     - Aggregated volume                                           n/a

     - Price
 e)  Date of the transaction                                      7 July 2022
 f)  Place of the transaction                                     London

 

*The Participation Proportion for the CEO and CFO as stated in the Directors'
Remuneration Policy has been reduced by 0.5% each, following a request from
the CEO and CFO to ensure there is sufficient capacity for other participants
to share in the STP.

 

Enquiries

 Saga plc       Vicki Haynes

 Enbrook Park   Company Secretary

 Sandgate       01303 771 199

 Folkestone

 Kent

 CT20 3SE

 

 

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