REG - Severfield PLC - Director/PDMR Shareholding

SeverfieldAnnouncement

29/06/2022 12:15

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RNS Number : 6484Q  Severfield PLC  29 June 2022

29(th) June 2022

 

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
28(th) June 2019. These options vested on 28 June 2022 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 were allocated shares out of the Severfield EBT
and some of these were then sold to settle their tax liability with the
remainder then being sold and the cash value transferred to the director.

This only applied to directors who already satisfy the Company's shareholding
requirement for executive directors.

In accordance with the rules of the Plan and the Company's Directors'
Remuneration Policy, 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 shares out of the Severfield EBT being sold to settle their
tax liability.

 

 Name           Number of shares awarded on 28 June 2019  Number of shares vested and exercised on 28 June 2022 after dividend  Shares sold to settle tax calculated at a share price of £0.62   Cash paid to participant after tax calculated at a share price of £0.62   Shares retained by individual
                                                          equivalent adjustment
 Derek Randall   111,521                                  125,827                                                               49,073                                                           £47,587                                                                   0
 Adam Semple     31,884                                   35,974                                                                17,357                                                           n/a                                                                       18,617

 

 

 

 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  Ordinary shares of 2.5p

     Identification code

GB00B27YGJ97
 b)  Nature of the transaction                                    Exercise of DSBP award and sale of shares to settle tax liability with an
                                                                  after tax cash payment.
 c)  Price(s) and volume(s)                                       Price   Volume   Total
                                                                  £0.62   125,827  £78,013
 d)  Aggregated information                                       Not applicable-single transaction

- Aggregated volume

- Price
 e)  Date of the transaction                                      2022-06-28

 f)  Place of the transaction                                     XLON

 GB00B27YGJ97

b)

Nature of the transaction

Exercise of DSBP award and sale of shares to settle tax liability with an
after tax cash payment.

c)

Price(s) and volume(s)

 Price   Volume   Total
 £0.62   125,827  £78,013

d)

Aggregated information

 -  Aggregated volume

 -  Price

Not applicable-single transaction

e)

Date of the transaction

2022-06-28

 

f)

Place of the transaction

XLON

 

 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  Ordinary shares of 2.5p

     Identification code

GB00B27YGJ97
 b)  Nature of the transaction                                    Exercise of DSBP award and settlement of that exercise by selling some shares
                                                                  to pay for tax and share transfer to the value of the after tax benefit.
 c)  Price(s) and volume(s)

Price   Volume  Total
                                                                  £0.62   17,357  £10,761
 d)  Aggregated information                                       Not applicable-single transaction

- Aggregated volume

- Price
 e)  Date of the transaction                                      2022-06-28

 f)  Place of the transaction                                     XLON

 GB00B27YGJ97

b)

Nature of the transaction

Exercise of DSBP award and settlement of that exercise by selling some shares
to pay for tax and share transfer to the value of the after tax benefit.

c)

Price(s) and volume(s)

 

 Price   Volume  Total
 £0.62   17,357  £10,761

d)

Aggregated information

 -  Aggregated volume

 -  Price

Not applicable-single transaction

e)

Date of the transaction

2022-06-28

 

f)

Place of the transaction

XLON

 

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