REG - Serco Group PLC - Director/PDMR Shareholding

SercoAnnouncement

05/11/2018 16:20

RNS Number : 3975G
Serco Group PLC
05 November 2018
 


 
5 November 2018
Serco Group plc (the 'Company')
Legal Entity Identifier: 549300PT2CIHYN5GWJ21


 
INITIAL NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2 PENCE EACH IN THE COMPANY ('ORDINARY SHARES')
 
The Company confirms that awards granted on 31 October 2014 to Angus Cockburn in the form of Nominal Cost Options under the 2009 Serco Performance Share Plan (the 'Performance Award') and in connection with his appointment to the Company (the 'Recruitment Award') (together, 'the Awards') lapsed in full on 31 October 2018. 
 
The performance measures applied to the Awards are set out below. The performance period for the Awards commenced on 1 January 2014.
 
Performance Award:
 



Proportion of the Award


Measure


Outcome


Overall outcome




1/3rd


Absolute Share Price - the Company's average share price in the 30 days following the announcement of the 2017 results was below the minimum required for vesting.


Lapsed in full


0%








Total proportion of the Performance Award lapsed to date
Still to vest


83.33%
16.67%



 
Recruitment Award:
 



Proportion of the Award


Measure


Outcome


Overall outcome




40%


Absolute Share Price - the Company's average share price in the 30 days following the announcement of the 2017 results was below the minimum required for vesting.


Lapsed in full


0%








Total proportion of the Recruitment Award vested to date
Total proportion of the Recruitment Award lapsed to date
Still to vest


20%
80%
0%



 
All tranches of the 2014 Recruitment Award have now vested or lapsed.
 
The closing price of an Ordinary Share of Serco Group plc at the point of vesting on 31 October 2018 was £0.9610.
 
The notifications that follow are made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation 596/2014.
 
 



1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Angus Cockburn




2
 


Reason for the notification
 




a)
 


Position/status
 
 


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
 
 


Serco Group plc




b)
 


LEI
 
 


549300PT2CIHYN5GWJ21




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 2 pence each ('Ordinary Shares')
ISIN: GB0007973794














Identification code


















b)
 


Nature of the transaction
 
 


The lapse of Nominal Cost Options over Ordinary Shares granted in 2014 under the Company's 2009 Performance Share Plan.
 




c)
 


Price(s) and volume(s)




























Price(s)


Volume(s)
















n/a


112,714
















n/a


121,747






























d)
 


Aggregated information


















- Aggregated volume


234,461














- Price


n/a














e)
 


Date of the transaction
 


31 October 2018




f)
 


Place of the transaction


n/a



 
 
 
 




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