REG - Serco Group PLC - Director/PDMR Shareholding

SercoAnnouncement

10/06/2019 15:35

RNS Number : 7242B
Serco Group PLC
10 June 2019
 


 
10 June 2019
Serco Group plc (the "Company")
Legal Entity Identifier: 549300PT2CIHYN5GWJ21
 
 
 
INITIAL NOTIFICATION OF TRANSACTIONS O PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014
 
On 6 June 2019 the Company granted conditional share awards ("Performance Awards") to the following PDMRs under the Serco Group plc 2019 Long-Term Incentive Plan:   
 




PDMR


Number of Shares subject to the Performance Award




Rupert Soames,
Group Chief Executive


1,312,741




Angus Cockburn,
Group Chief Financial Officer


  689,189
 




David Eveleigh,
Group General Counsel & Company Secretary


  250,965
 




Mark Irwin,
CEO AsPac


  321,277
 




Kevin Craven,
CEO UK & Europe


  330,810
 




Philip Malem,
CEO Middle East


  242,820
 




David Dacquino,
CEO Americas


  414,774
 




Anthony Kirby,
Group HR Director


  239,382
 




Kate Steadman,
Group Strategy & Communications Director


  141,776
 




 
The Performance Awards have a normal vesting date of the third anniversary of grant and vesting is conditional on continued employment and the satisfaction of five independent performance measures as follows:
 




Performance
Measure


Weighting
 


Performance Target




EPS


28.33%


Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 19.0p (threshold, 25% vesting) to 23.2p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2021.




TSR


28.33%


Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile (maximum, 100% vesting) when ranked relative to companies in the FTSE250 (excluding investment trusts), measured over the three-year performance period ending 31 December 2021.




ROIC


28.33%


Pre-tax Return on Invested Capital (ROIC) of 15.6% (threshold, 25% vesting) to 19.0% (maximum, 100% vesting), measured as an average over the three-year performance period ending 31 December 2021.




Strategic objective - Order Book


7.50%


Book-to-bill ratio of 100% (target, 50% vesting) to 105% (maximum, 100% vesting) measured as an average over the three-year performance period ending 31 December 2021.




Strategic objective - Employee Engagement


7.50%


For  the year ending 31 December 2021, achieve an engagement score of 67 points (target, 50% vesting) to 70 points (maximum, 100% vesting) in our annual employee engagement survey.




 
The Remuneration Committee retains discretion to change performance measures and targets, and the weightings attached to performance measures part-way through the performance period if there is a significant event, such as a major transaction.
 
For Executive Directors, any shares that vest will be subject to a post-vesting holding requirement that takes the total term of the award to a minimum of five years. Post-vesting clawback also applies to the Executive Directors awards. Awards to all participants are subject to pre-vesting malus.
 
 
Transaction notification
 
 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Rupert Soames




2
 


Reason for the notification
 




a)
 


Position/status
 
 


Group Chief Executive




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


1,312,741


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


1,312,741




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 
 




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


689,189
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


  689,189
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 
 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


David Eveleigh




2
 


Reason for the notification
 




a)
 


Position/status
 
 


Group General Counsel & Company Secretary




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


250,965
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


250,965
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Mark Irwin




2
 


Reason for the notification
 




a)
 


Position/status
 
 


CEO AsPac




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


321,277
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


321,277
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Kevin Craven




2
 


Reason for the notification
 




a)
 


Position/status
 
 


CEO UK & Europe




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


330,810
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


330,810
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Philip Malem




2
 


Reason for the notification
 




a)
 


Position/status
 
 


CEO Middle East




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


242,820
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


242,820
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


David Dacquino




2
 


Reason for the notification
 




a)
 


Position/status
 
 


CEO Americas




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


414,774
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


414,774
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Anthony Kirby




2
 


Reason for the notification
 




a)
 


Position/status
 
 


Group HR Director




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


239,382
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


239,382
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name


Kate Steadman




2
 


Reason for the notification
 




a)
 


Position/status
 
 


Group Strategy & Communications Director




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")
 




 


 




Identification code


ISIN: GB0007973794




 


 




b)
 


Nature of the transaction
 
 


The grant of conditional share awards on 6 June 2019 under the Serco Group plc 2019 Long-Term Incentive Plan.




c)
 


Price(s) and volume(s)


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


n/a


141,776
 


 




 


 


 


 


 




d)
 


Aggregated information


 




 


 




- Aggregated volume


141,776
 




 


 




- Price


n/a




 


 




e)
 


Date of the transaction
 


6 June 2019




f)
 


Place of the transaction


n/a




 
 




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