REG - TClarke PLC - Director/PDMR Shareholding
RNS Number : 6873LTClarke PLC01 May 2020TClarke 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 1st May 2020, 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
439,601
Mike Crowder
375,000
Trevor Mitchell
327,075
No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 1st May 2023, 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 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 2019.
50% of the award will be made on the basis of actions taken by the Executive Directors to enable TClarke to increase retained reserves for the year ended 31 December 2020 (excluding any impact from Pension Deficit Movements). In addition, TClarke must continue to trade within its normal banking facilities for the year without breaching any covenants. Achievement of this performance condition will be assessed by the Remuneration Committee in March 2021. For the shares to vest the Company must not breach any banking covenants for the remainder of the three year performance period.
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 the notification
a)
Position/status
Group Chief Executive Officer and Executive Director (PDMR).
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
TClarke plc
b)
LEI
213800OIP8MU517BK123
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
Identification code
Ordinary shares of 10 pence each
GB0002015021
b)
Nature of the transaction
Grant of a conditional share award under the Equity Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
439,601
d)
Aggregated information
- Aggregated volume
- Price
N/A (single transaction)
e)
Date of the transaction
2020-05-01
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Mike Crowder
2
Reason for the notification
a)
Position/status
Group Managing Director and Executive Director (PDMR).
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
TClarke plc
b)
LEI
213800OIP8MU517BK123
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
Identification code
Ordinary shares of 10 pence each
GB0002015021
b)
Nature of the transaction
Grant of a conditional share award under the Equity Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
375,000
d)
Aggregated information
- Aggregated volume
- Price
N/A (single transaction)
e)
Date of the transaction
2020-05-01
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Trevor Mitchell
2
Reason for the notification
a)
Position/status
Group Finance Director and Executive Director (PDMR).
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
TClarke plc
b)
LEI
213800OIP8MU517BK123
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
Identification code
Ordinary shares of 10 pence each
GB0002015021
b)
Nature of the transaction
Grant of a conditional share award under the Equity Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
327,075
d)
Aggregated information
- Aggregated volume
- Price
N/A (single transaction)
e)
Date of the transaction
2020-05-01
f)
Place of the transaction
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
1st May 2020
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