REG - Severfield PLC - Director/PDMR Shareholding

SeverfieldAnnouncement

30/06/2021 15:35

RNS Number : 7088D
  
Severfield PLC
  
30 June 2021
  
 

30th June 2021
 
Severfield plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
The following notification relates to the vesting and exercise of nil cost options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2018. These options vested on 28 June 2021 and were exercised and settled as set out below. 
In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment.  This only applied to directors who already satisfy the Company's shareholding requirement for executive directors.  In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash. 
 



Name


Number of shares awarded on 28 June 2018


Number of shares vested and exercised on 28 June 2021 after dividend equivalent adjustment  


Cash paid to settle tax calculated at a share price of £0.78


Cash paid to participant after tax calculated at a share price of £0.78


Shares retained by individual




Alan Dunsmore


117,613 


134,047


£49,142


£55,415


0




Ian Cochrane


 108,732 


123,925


£45,431


£51,230


0




Derek Randall


 98,984 


112,815


£37,706


£50,290


0




Adam Semple


 13,098 


14,928


£5,473


n/a


7,912



 



 1 


Details of the person discharging managerial responsibilities/person closely associated 




a)


Name


Alan Dunsmore 




2 


Reason for the notification 




a)


Position/status


CEO




b)


Initial notification/Amendment


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a)


Name


Severfield plc 




b)


LEI


21380025AWPR781CY104




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
Identification code





Ordinary shares of 2.5p











GB00B27YGJ97












b)


Nature of the transaction


Exercise of DSBP award and settlement of that exercise with a cash payment.




c)


Price(s) and volume(s)





Price


Volume


Total




£0.78(price per share paid to settle the exercise of the DSBP award)


134,047


£104,557








d)


Aggregated information



-


Aggregated volume



 



-


Price






Not applicable-single transaction




e)


Date of the transaction


2021-06-28
 




f)


Place of the transaction


Outside a trading venue



 



1 


Details of the person discharging managerial responsibilities/person closely associated 




a)


Name


Ian Cochrane 




2 


Reason for the notification 




a)


Position/status


COO




b)


Initial notification/Amendment


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a)


Name


Severfield plc 




b)


LEI


21380025AWPR781CY104




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
Identification code





Ordinary shares of 2.5p











GB00B27YGJ97












b)


Nature of the transaction


Exercise of DSBP award and settlement of that exercise with a cash payment.




c)


Price(s) and volume(s)





Price


Volume


Total




£0.78 (price per share paid to settle the exercise of the DSBP award)


123,925


£96,661








d)


Aggregated information



-


Aggregated volume



 



-


Price






Not applicable-single transaction




e)


Date of the transaction


2021-06-28
 




f)


Place of the transaction


Outside a trading venue



 



1 


Details of the person discharging managerial responsibilities/person closely associated 




a)


Name


Derek Randall 




2 


Reason for the notification 




a)


Position/status


Director




b)


Initial notification/Amendment


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a)


Name


Severfield plc 




b)


LEI


21380025AWPR781CY104




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
Identification code





Ordinary shares of 2.5p











GB00B27YGJ97












b)


Nature of the transaction


Exercise of DSBP award and settlement of that exercise with a cash payment.




c)


Price(s) and volume(s)





Price


Volume


Total




£0.78 (price per share paid to settle the exercise of the DSBP award)


112,815


£87,996








d)


Aggregated information



-


Aggregated volume



 



-


Price






Not applicable-single transaction




e)


Date of the transaction


2021-06-28
 




f)


Place of the transaction


Outside a trading venue



 



1 


Details of the person discharging managerial responsibilities/person closely associated 




a)


Name


Adam Semple 




2 


Reason for the notification 




a)


Position/status


Finance director




b)


Initial notification/Amendment


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a)


Name


Severfield plc 




b)


LEI


21380025AWPR781CY104




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
Identification code





Ordinary shares of 2.5p











GB00B27YGJ97












b)


Nature of the transaction


Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.




c)


Price(s) and volume(s)


 







Price


Volume


Total




Share settlement


£0.00


7,912


£0




Cash settlement


£0.78 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled)


7,016


£5,472








d)


Aggregated information



-


Aggregated volume



 



-


Price






Not applicable-single transaction




e)


Date of the transaction


2021-06-28
 




f)


Place of the transaction


Outside a trading venue



 

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