REG - Speedy Hire PLC - Director/PDMR Shareholding

Speedy HireAnnouncement

21/06/2022 08:30

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RNS Number : 6072P  Speedy Hire PLC  21 June 2022

Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial
Responsibilities

On 20 June 2022 an award (the "PSP Award") over ordinary shares of 5 pence
each in the share capital of the Company ("Shares") was granted under the
Company's 2014 Performance Share Plan ("PSP") to a person discharging
managerial responsibilities as detailed below (the "PDMR"). 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 Award will
become exercisable as from the third anniversary of the grant, subject to the
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 Award will be subject to an EPS condition. 25% of
this part of the award vests for EPS of 6.17 pence with full vesting of this
part of the award for EPS of 7.72 pence for the financial year ending 31 March
2025. A sliding scale operates between these points; and

 

·      50% of the PSP Award 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 2022 to
31 March 2025.  25% of this part of the 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 the 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 Award in response to
exceptional circumstances.

 

The PSP Award was granted in the form of nil-cost option and remains 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                                      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       747,417

 d)  Aggregated information
     -      Aggregated volume

     -      Price

N/A single transaction

 e)  Date of the transaction                   2022-06-20
 f)  Place of the transaction                  Outside a trading venue

d)

 Aggregated information
 -      Aggregated volume
 -      Price

 

N/A single transaction

e)

Date of the transaction

2022-06-20

f)

Place of the transaction

Outside a trading venue

 

Enquiries:

Neil Hunt

Company Secretary

Speedy Hire Plc

Telephone:  01942 720000

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