REG - Secure Trust BankPLC - Director/PDMR Shareholding
18/04/2024 16:15
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240418:nRSR2211La&default-theme=true
RNS Number : 2211L Secure Trust Bank PLC 18 April 2024
Secure Trust Bank PLC
Secure Trust Bank PLC (the "Company")
Grant of awards under the Company's 2017 Long Term Incentive Plan ("LTIP")
On 16 April 2024 the Company granted options over ordinary shares ("Ordinary
Shares") under the LTIP to the following PDMRs:
PDMR Number of Ordinary Shares over which options granted Exercise price
David McCreadie 101,322 £0.40 per Ordinary Share
Rachel Lawrence 70,613 £0.40 per Ordinary Share
John Bevan 26,234 £0.40 per Ordinary Share
Andrew Phillips 18,402 £0.40 per Ordinary Share
Geoff Ray 21,158 £0.40 per Ordinary Share
Julian Hartley 22,921 £0.40 per Ordinary Share
Katie Docherty 22,088 £0.40 per Ordinary Share
Each option has been granted subject to performance conditions based on
sliding scale measures of: (1) the Company's total shareholder return over the
performance period relative to the total shareholder return performance of the
current constituent companies of the FTSE Small Cap Index (excluding
investment trusts) over the same period; (2) return on average equity (target
range of 14% - 16% in 2026); (3) earnings per share ('EPS') growth (target
range of 3-year compound annual growth rate in continuing EPS in the range of
20% - 30%, measured from 2023 EPS for continuing businesses); and (4) an
assessment of the Company's approach to risk management over the performance
period.
The performance conditions also include an underpin measure which includes an
assessment of general financial performance, shareholder experience, risk
management performance and progress against the Group's strategy.
The performance period in each case is a period of three years starting on 1
January 2024 and ending with 31 December 2026.
Each of the four performance conditions noted above accounts for 25% of the
option.
Each option will, ordinarily, vest on the date on which the Company's
Remuneration Committee of the Board of Directors, determines the extent to
which the performance conditions have been satisfied. Each option will be
released so that the participant is entitled to exercise the vested Ordinary
Shares on the vesting date except in the case of Rachel Lawrence and David
McCreadie when the date of release will be at the end of a holding period
which shall end on the second anniversary of the vesting date.
The Company further granted options over Ordinary Shares without performance
conditions but subject only to the participant's continued service through to
the applicable vesting date, but with discretion retained for the Remuneration
Committee to potentially reduce the award on settlement if it considers
appropriate to do so under the LTIP plan to the following PDMRs:
PDMR Number of Ordinary Shares over which award granted Exercise price
Chris Harper 12,129 £0.40 per Ordinary Share
The number of shares under each option was set by reference to a value per
Ordinary Share of 701p, which was the 3 day average mid-market price
determined between 11 April 2024 to 15 April 2024.
In accordance with the terms of the options, the exercise price payable may be
waived before exercise.
1. Details of PDMR / person closely associated with them ("PCA")
a) Name David McCreadie
2. Reason for the notification
a) Position / status Director/PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 101,322
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Rachel Lawrence
2. Reason for the notification
a) Position / status Director/PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 70,613
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name John Bevan
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 26,234
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Andrew Phillips
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 18,402
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Geoff Ray
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 21,158
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Julian Hartley
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost option over ordinary shares under the Secure Trust Bank
2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 22,921
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Katie Docherty
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost restricted stock option over ordinary shares under the
Secure Trust Bank 2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
nil 22,088
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
1. Details of PDMR / person closely associated with them ("PCA")
a) Name Chris Harper
2. Reason for the notification
a) Position / status PDMR
b) Initial notification / amendment Initial notification
3. Details of the issuer
a) Name Secure Trust Bank PLC
b) LEI 213800CXIBLC2TMIGI76
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 40p each in Secure Trust Bank PLC.
b) Identification code GB00B6TKHP66
c) Nature of the transaction Grant of nominal-cost restricted stock option over ordinary shares under the
Secure Trust Bank 2017 Long Term Incentive Plan
d) Price(s) and Price(s) Volume(s)
Nil 12,129
volume(s)
e) Aggregated information N/A
- Volume
- Price
f) Date of the transaction 16 April 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Volume
- Price
N/A
f)
Date of the transaction
16 April 2024
g)
Place of the transaction
Outside a trading venue
Lisa Daniels
Company Secretary
Secure Trust Bank PLC
+44 121 693 9100
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHBUGDSXGBDGSIRecent news on Secure Trust Bank
See all newsREG - Secure Trust BankPLC - Total Voting Rights
AnnouncementREG - Secure Trust BankPLC - Director/PDMR Shareholding
AnnouncementREG - Secure Trust BankPLC - AGM Notice - Correction of Dividend Record Date
AnnouncementREG - Secure Trust BankPLC - Director/PDMR Shareholding
AnnouncementREG - Secure Trust BankPLC - Director/PDMR Shareholding
Announcement