REG - Serco Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">SRP.L</Origin>

SercoAnnouncement

09/05/2017 16:30

RNS Number : 6491E
Serco Group PLC
09 May 2017
9 May 2017
Serco Group plc
Legal Entity Identifier: 549300PT2CIHYN5GWJ21
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014
Serco Group plc ('Serco' or 'the Company'), the international service company, announces that the individual Executive Directors and Executive Committee Members named below, each a PDMR, have notified the Company that, in connection with their participation in the 2017 Serco Deferred Bonus Plan, they have purchased the following number of ordinary shares ("Investment Shares") of 2p each in the Company (ISIN: GB0007973794) and were awarded a corresponding Matching Share Award under the terms of the Company's Deferred Bonus Plan ("DBP Matching Share Award"), as follows:
Name
Position
Number of Investment Shares Purchased
Value 
Invested
DBP Matching Share Award (Maximum)
Rupert Soames
Group Chief Executive 
229,980
276,136.99
873,926
Angus Cockburn
Group Chief Financial Officer
116,175
139,491.32
441,470
Ed Casey
Group Chief Operating Officer
158,125
189,860.69
577,860
Kevin Craven
CEO, Central Government
56,019
67,262.01
212,874
Liz Benison
CEO, Local & Regional Government
26,005
31,224.20
98,822
Mark Irwin
CEO, AsPac
71,179
85,464.63
281,092
David Eveleigh
Group General Counsel & Company Secretary 
16,635
19,973.64
63,218
The Investment Shares were purchased on the London Stock Exchange (XLON) on 8 May 2017 at a price per share of 120.07p. The grants of the DBP Matching Share Awards have been made in London and are based on the share price for the purchase of the above Investment Shares on the London Stock Exchange on 8 May 2017. The date of the notification of shares purchased and the grant is 9 May 2017.
The number of shares that will vest under the DBP Matching Share Award is conditional upon the satisfaction of a three-year EPS performance target being Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 13.5p (threshold, 25% vesting) to 16.5p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2019. At threshold, each Investment Share purchased will be matched (on a gross investment basis) by half a Matching Share, increasing to a maximum of two Matching Shares at the maximum performance target level. In exceptional circumstances the Remuneration Committee retains discretion to change performance measures and targets part-way through the performance period if there is a significant event such as a major transaction. Awards to all participants are subject to pre-vesting malus and post-vesting clawback.

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