REG - Severfield PLC - Notification of Transactions of Directors
09/10/2023 15:00
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RNS Number : 4550P Severfield PLC 09 October 2023
9(th) October 2023
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
share options granted under the Severfield Deferred Share Bonus Plan ("the
Plan") on 28(th) June 2019 and 5(th) October 2020. These options vested on
28(th) June 2022 and 5(th) October 2023 respectively 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. 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.
2019 DSBP
Name Number of shares awarded on 28(th) June 2019 Number of shares vested and exercised on 5(th) October 2023 after dividend Cash paid to settle tax calculated at a share price of £0.61 Cash to be paid to participant after tax calculated at a share price of £0.61 Shares retained by individual
equivalent adjustment
Alan Dunsmore 50,724 57,884 £16,595 n/a 30,678
2020 DSBP
Name Number of shares awarded on 5 October 2020 Number of shares vested and exercised on 5(th) October 2023 after dividend Cash paid to settle tax calculated at a share price of £0.61 Cash to be paid to participant after tax calculated at a share price of £0.61 Shares retained by individual
equivalent adjustment
Alan Dunsmore 194,314 222,158 £63,693 £71,823 0
Derek Randall 164,474 188,042 £30,425 £84,280 0
Adam Semple 127,410 145,667 £41,763 n/a 77,203
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 Ordinary shares of 2.5p
Identification code
GB00B27YGJ97
b) Nature of the transaction 1. Exercise of DSBP award and settlement of that exercise partly in shares
and partly with a cash payment.
2. Exercise of DSBP award and settlement of that exercise with a cash
payment.
c) Price(s) and volume(s) 1. Price Volume Total
Share settlement £0.00 30,678 £0
Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the 27,206 £16,595
DSBP award which is cash settled)
2. Price Volume Total
£0.61(price per share paid to settle the exercise of the DSBP award) 222,158 £135,516
2. Price
Volume
Total
£0.61(price per share paid to settle the exercise of the DSBP award)
222,158
£135,516
d) Aggregated information Not applicable-single transaction
- Aggregated volume
- Price
e) Date of the transaction 2023-10-05
f) Place of the transaction Outside a trading venue
GB00B27YGJ97
b)
Nature of the transaction
1. Exercise of DSBP award and settlement of that exercise partly in shares
and partly with a cash payment.
2. Exercise of DSBP award and settlement of that exercise with a cash
payment.
c)
Price(s) and volume(s)
1. Price Volume Total
Share settlement £0.00 30,678 £0
Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the 27,206 £16,595
DSBP award which is cash settled)
2. Price Volume Total
£0.61(price per share paid to settle the exercise of the DSBP award) 222,158 £135,516
2. Price
Volume
Total
£0.61(price per share paid to settle the exercise of the DSBP award)
222,158
£135,516
d)
Aggregated information
- Aggregated volume
- Price
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
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 Ordinary shares of 2.5p
Identification code
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
£0.61 (price per share paid to settle the exercise of the DSBP award) 188,042 £114,705
d) Aggregated information Not applicable-single transaction
- Aggregated volume
- Price
e) Date of the transaction 2023-10-05
f) Place of the transaction Outside a trading venue
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
£0.61 (price per share paid to settle the exercise of the DSBP award) 188,042 £114,705
d)
Aggregated information
- Aggregated volume
- Price
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
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 CFO
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 partly in shares and
partly with a cash payment.
c) Price(s) and volume(s)
Price Volume Total
Share settlement £0.00 77,203 £0
Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the 68,464 £41,763
DSBP award which is cash settled)
d) Aggregated information Not applicable-single transaction
- Aggregated volume
- Price
e) Date of the transaction 2023-10-05
f) Place of the transaction Outside a trading venue
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 77,203 £0
Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the 68,464 £41,763
DSBP award which is cash settled)
d)
Aggregated information
- Aggregated volume
- Price
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
f)
Place of the transaction
Outside a trading venue
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