REG - Speedy Hire PLC - Director/PDMR Shareholding

Speedy HireAnnouncement

21/07/2023 16:15

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RNS Number : 8517G  Speedy Hire PLC  21 July 2023

Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial
Responsibilities

On 21 July 2023 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 6.25 pence with full vesting of this
part of an award for EPS of 8.00 pence for the financial year ending 31 March
2026. 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 the date of
award.  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. This will include an assessment as to whether a
windfall gain has occurred between grant and vesting of the 2023 award, in
2026. If the Committee determines that a windfall has occurred upon vesting,
then it will consider the extent to which the number of shares vesting will be
scaled back.

 

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                                      Dan Evans
 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       1,212,284
 d)  Aggregated information
     -      Aggregated volume

     -      Price

N/A single transaction

 e)  Date of the transaction                   2023-07-21
 f)  Place of the transaction                  Outside a trading venue

d)

 Aggregated information
 -      Aggregated volume
 -      Price

 

N/A single transaction

e)

Date of the transaction

2023-07-21

f)

Place of the transaction

Outside a trading venue

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                      Paul Rayner
 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       943,426

 d)  Aggregated information
     -      Aggregated volume

     -      Price

N/A single transaction

 e)  Date of the transaction                   2023-07-21
 f)  Place of the transaction                  Outside a trading venue

d)

 Aggregated information
 -      Aggregated volume
 -      Price

 

N/A single transaction

e)

Date of the transaction

2023-07-21

f)

Place of the transaction

Outside a trading venue

 

Enquiries:

Neil Hunt

Company Secretary

Speedy Hire Plc

Telephone:  01942 720000

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