REG - Speedy Hire PLC - Director/PDMR Shareholding

Speedy HireAnnouncement

14/06/2021 16:30

RNS Number : 8495B
  
Speedy Hire PLC
  
14 June 2021
  
 

Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Managerial Responsibilities 



On 14 June 2021 awards (the "PSP Awards") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") were granted under the Company's 2014 Performance Share Plan ("PSP") to persons discharging managerial responsibilities as detailed below (the "PDMRs"). The number of Shares referred to below is the maximum available if the performance conditions are met in full. In the normal course of events, the PSP Awards will become exercisable as from the third anniversary of the grant, subject to each PDMR's continued service and the extent to which the following objective earnings per share ("EPS") and total shareholder return performance ("TSR") conditions have been satisfied:
 
·      50% of the PSP Awards will be subject to an EPS condition. 25% of this part of an award vests for EPS of 5.33 pence with full vesting of this part of an award for EPS of 5.89 pence for the financial year ending 31 March 2024. A sliding scale operates between these points; and
 
·      50% of the PSP Awards will be subject to a relative TSR condition based on the Group's performance against the constituents of the FTSE 250 (excluding investment trusts) measured over three years from 1 April 2021 to 31 March 2024.  25% of this part of an Award vests if the Company's TSR is ranked at the median of the TSRs of the comparator group, with full vesting of this part of an award for upper quartile performance. A sliding scale operates between these points.
 
In addition to the above, the Company's Remuneration Committee retains discretion to reduce the level of vesting of the PSP Awards in response to exceptional circumstances.
 
The PSP Awards were granted in the form of nil-cost options and remain subject to the rules of the PSP at all times including that awards to executive directors are subject to a two-year post vesting holding period (net of tax).
 
 



1.


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Russell Down




2.


Reason for the notification




a)


Position / status 


Chief Executive




b)


Initial notification / amendment


Initial notification




3.


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




a)


Name


Speedy Hire Plc




b)


LEI


213800U78SIYAZDYXM61




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


Ordinary shares of 5 pence each








Identification code


GB0000163088




b)


Nature of the transaction


Grant of award under the Speedy Hire Plc Performance Share Plan 2014




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


551,385










d)





Aggregated information




-      Aggregated volume




-      Price
 






 

N/A single transaction




e) 


Date of the transaction


2021-06-14




f)


Place of the transaction 


Outside a trading venue



 
 
 



1.


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


James Bunn




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


Speedy Hire Plc




b)


LEI


213800U78SIYAZDYXM61




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


Ordinary shares of 5 pence each








Identification code


GB0000163088




b)


Nature of the transaction


Grant of award under the Speedy Hire Plc Performance Share Plan 2014




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


458,031
 








d)





Aggregated information




-      Aggregated volume




-      Price
 






 

N/A single transaction




e) 


Date of the transaction


2021-06-14




f)


Place of the transaction 


Outside a trading venue



 
Enquiries:
Neil Hunt
Company Secretary
Speedy Hire Plc
Telephone:  01942 720000

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