RNS Number : 0433X
TClarke PLC
29 April 2021
TClarke plc
("the Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
The Company announces that on 28 April 2021, the following Executive Directors of the Company were granted nil cost conditional share awards over ordinary shares of 10p each in Company ("Shares") pursuant to the TClarke plc Equity Incentive Plan ("the Plan") as follows:
Executive Director:
Number of conditional shares awarded:
Mark Lawrence
311,152
Mike Crowder
265,427
Trevor Mitchell
231,505
No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 28 April 2024, being the third anniversary of the date of grant, and will be subject to continued employment with the Company.
50% of the award will be subject to satisfaction of the earnings per share performance condition as set out below:
Annual growth rate in EPS above RPI*
Proportion of award vesting
Less than 3%
Nil
3%
25%
Between 3% and 10%
Between 25% and 100% on a straight-line basis
Above 10%
100%
*Base point from which performance is measured is based on average underlying EPS for the three years ended 31st December 2020.
50% of the award is being made to incentivise the achievement of the Company's 3 year ambitious organic growth plan achievement of which would substantially enhance earnings per share. This element of the award will be subject to satisfaction of the earnings per share performance condition as set out below:
Annual growth rate in EPS above RPI*
Proportion of award vesting
Less than 20%
Nil
Between 20% and 30%
Between Nil and 100% on a straight-line basis
Above 30%
100%
*Base point from which performance is measured is based on average underlying EPS for the three years ended 31st December 2020. Formal notifications in respect of the conditional share awards to the Executive Directors are below;
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Mark Lawrence
2
Reason for thenotification
a)
Position/status
Group Chief Executive Officer and Executive Director (PDMR).
b)
Initial notification/Amendment
Initial notification
3
Detailsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor
Description ofthe financialinstrument,type of instrument Identification code
Ordinary shares of 10 pence each GB0002015021
b)
Natureofthetransaction
Grant of a conditional share award under the Equity Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
231,505
d)
Aggregated information - Aggregatedvolume - Price
N/A (single transaction)
e)
Dateofthetransaction
2021-04-28
f)
Place ofthetransaction
Outside a trading venue
For further information contact: TClarke plc Mark Lawrence - Group Chief Executive Trevor Mitchell - Finance Director David Lanchester - Company Secretary Tel: 020 7997 7400 www.tclarke.co.uk Cenkos Securities plc (Corporate Broker) Max Hartley (Corporate Finance) Nick Searle (Sales) Tel: 020 7397 8900 www.cenkos.com RMS Partners Simon Courtenay Tel: 020 3735 6551
29th April 2021
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