REG - SIG PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">SHI.L</Origin>

SIGAnnouncement

25/04/2017 17:10

RNS Number : 3178D
SIG PLC
25 April 2017
SIG plc
DIRECTOR/PDMR Shareholding
Notification and public disclosure of LTIP Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons
SIG plc confirms that an allocation was granted under the terms of the SIG plc 2014 Long Term Incentive Plan ("LTIP") to Executive Directors as set out below. The awards were granted on 24 April 2017 and the ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the LTIP, and are then subject to a further two-year holding period. The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.
Name Status No. of shares subject to allocation
Meinie Oldersma Director 954,003
Group Chief Executive
Nick Maddock Director 459,965
Chief Financial Officer
Following this award, total holding and interests in ordinary shares in SIG plc are:
Name
Total holdings of
ordinary shares
Percentage of current
issued share capital
Total interest in
ordinary shares
Meinie Oldersma
Nil
Nil
954,003
Nick Maddock
Nil
Nil
459,965
This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.
1
Details of the person discharging managerial responsibilities/person closely associated 
a)
Name
Meinie Oldersma
2
Reason for the notification 
a)
Position/status 
PDMR (Chief Executive Officer)
b)
Initial notification/Amendment 
This is an initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)
Name
SIG plc
b)
LEI
213800VDC1BKJEZ8PV53
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 10p
ISIN: GB0008025412
b)
Nature of the transaction
Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period
c)
Price(s) and volume(s)
Price(s)
Volume(s)


GBP Nil
954,003
d)
Aggregated information
- Aggregated volume
- Price 
Aggregated volume: 954,003
GBP Nil
e)
Date of the transaction
2017-04-24
f)
Place of the transaction
XLON
1
Details of the person discharging managerial responsibilities/person closely associated 
a)
Name
Nick Maddock
2
Reason for the notification 
a)
Position/status 
PDMR (Chief Financial Officer)
b)
Initial notification/Amendment 
This is an initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)
Name
SIG plc
b)
LEI
213800VDC1BKJEZ8PV53
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 10p
ISIN: GB0008025412
b)
Nature of the transaction
Grant of an award under the SIG plc 2014 Long Term Incentive Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period
c)
Price(s) and volume(s)
Price(s)
Volume(s)


GBP Nil
459,965
d)
Aggregated information
- Aggregated volume
- Price 
Aggregated volume: 459,965
GBP Nil
e)
Date of the transaction
2017-04-24
f)
Place of the transaction
XLON
Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 24 April 2020.
The performance conditions subject to which the options have been granted are as follows:
An Award shall be subject to two performance targets in accordance with this Schedule.
1. Two-thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche"). The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.
Average Return on Capital Employed (ROCE) for FY2017-2019
% of ROCE Tranche vesting
10% or less
Nil
Above 10% but less than 13.5%
Between 0% and 100% on a
straight-line basis
13.5% and above
100%
2. One-third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche"). The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2017, 2018 and 2019.
Cumulative Underlying EPS for
FY2017-2019
% of EPS Tranche vesting
Less than 31 pence
Nil
31 pence to 38 pence
Between 0% and 100% on a
straight-line basis
Above 38 pence
100%
R C Monro
Company Secretary 0114 285 6355

This information is provided by RNS
The company news service from the London Stock Exchange
  END
DSHSELFMIFWSESL