RNS Number : 4881S
Smiths News PLC
10 February 2026
Smiths News plc
Director/PDMR Shareholding - Correction
The following amendment has been made to the 'Director/PDMR Shareholding' announcement released on 3 February 2026 at 14:18 under RNS number: 5599R
In relation to the FY2026-2028 Long Term Incentive Plan awards granted to, and accepted by, Jonathan Bunting (Chief Executive Officer) and Richard Clay (Chief Financial Officer), the number of allocated shares awarded to Richard Clay as conditional awards was incorrectly stated due to an administrative error and has been corrected from 653,905 to 575,436, representing 110% of Mr Clay's base salary at grant, calculated at a share price of 66.10p.
All other details remain unchanged.
The full amended text is shown below.
__________________________________________________________________________________
Smiths News plc (the "Company") announces that it has been notified of the following transactions in the Company's ordinary 5p shares undertaken by directors / persons discharging managerial responsibility:
Long Term Incentive Plan FY2026 - 2028 ('LTIP')
The following awards were granted to, and accepted by, Jonathan Bunting (Chief Executive Officer) and Richard Clay (Chief Financial Officer) as conditional awards, where a participant may receive an allocation of shares following the normal vesting date, subject to (i) the extent to which the applicable performance conditions have been satisfied at the end of the three-year performance period and (ii) their continuing employment at that time.
As indicated in the Company's Directors' Remuneration Report (published as part of the Company's 2025 Annual Report and Accounts on 16 December 2025), the Company confirms that the extent of any vesting of this LTIP award will depend on the achievement of the following performance conditions:
Relative TSR vs FTSE Small Cap Index (excluding investment trusts) over the three-year performance period 70% weighting
Final Year Profit from Growth and Diversified Activities in FY2028 30% weighting
Proportion exercisable
Performance Period
1 September 2025 to 26 August 2028
Performance Targets
Below Median
Below £4.29m
Zero
Median
£4.29m
25%
Between Median and Upper Quartile
Between £4.29m and £6.90m
25%-100%
Upper Quartile
£6.90m
100%
The Company has considered carefully the level of target performance and the corresponding performance range for each performance measure to ensure that they are sufficiently stretching and promote long-term sustainable success.
Any vested shares will be subject to a holding period of two years from the vesting date and will be subject to customary malus and clawback events. The value of any dividends accrued, in the form of dividend equivalents, will normally be paid in cash at the end of period (third anniversary) based on the number of vested shares.
No consideration was paid for the grant of the award. For the purposes of this award, the grant was made at a share price of 66.10p.
Name of Participant
Form of Award
Normal Vesting Date
Maximum Number of Shares
Jonathan Bunting
Conditional award
The day following the end of the performance period on which the performance conditions have been assessed and notified to the Participant
1,003,757
Richard Clay
Conditional award
The day following the end of the performance period on which the performance conditions have been assessed and notified to the Participant
575,436
As noted in the Company's Directors' Remuneration Report, the LTIP grant levels are equivalent to 125% of base salary at grant for the Chief Executive Officer and 110% of base salary at grant for the Chief Financial Officer.
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Jonathan Bunting
2
Reason for the notification
a)
Position/status
Chief Executive Officer
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Smiths News plc
b)
LEI
2138004033ONVOOQXB02
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 5p shares
Identification code
ISIN:GB00B17WCR61
b)
Nature of the transaction
Grant of 1,003,757 nil cost options pursuant to the Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
1,003,757
d)
Aggregated information
n/a single transaction
- Aggregated volume
- Price
e)
Date of the transaction
2 February 2026
f)
Place of the transaction
Grant of the options took place outside of a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Clay
2
Reason for the notification
a)
Position/status
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
Smiths News plc
b)
LEI
2138004033ONVOOQXB02
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 5p shares
Identification code
ISIN:GB00B17WCR61
b)
Nature of the transaction
Grant of 575,436 nil cost options pursuant to the Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
575,436
d)
Aggregated information
n/a single transaction
- Aggregated volume
- Price
e)
Date of the transaction
2 February 2026
f)
Place of the transaction
Grant of the options took place outside of a trading venue
Person responsible for arranging release of this announcement:
Stuart Marriner, Company Secretary
Smiths News plc
Rowan House
Cherry Orchard North
Kembrey Park
Swindon
SN2 8UH
Email: cosec@smithsnews.co.uk
LEI: 2138004O33ONVOOQXB02
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHFLFFDFEIILIR
