REG - Watches of Switzlnd. - Director/PDMR Shareholding

Watches of SwitzerlandAnnouncement

11/12/2023 13:15

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RNS Number : 3728W  Watches of Switzerland Group PLC  11 December 2023

WATCHES OF SWITZERLAND GROUP PLC (the 'Company')

DIRECTOR/PDMR SHAREHOLDING

 

The Company announces that it has awarded on 11 December 2023 nil cost options
to its Executive Directors under the Company's 2019 Long Term Incentive Plan
(the 'Awards').

 

The Performance Target for the Awards consists of the following elements:

·    80% of the Awards will Vest depending on the Company's Cumulative EPS
performance against targets (the "EPS Performance Award").

·    20% of the Awards will Vest depending on the Company's Average ROCE
performance against targets (the "ROCE Performance Award").

The EPS Performance Awards will Vest as follows

 

 Cumulative EPS                       Percentage of Award Vesting
 Less than 189.9 pence                Nil
 189.9 pence                          16%
 Between 189.9 pence and 209.9 pence  Between 16% and 80% on a straight-line basis
 209.9 pence or more                  80%

 

The ROCE Performance Awards will Vest as follows

 Average ROCE             Percentage of Award Vesting
 Less than 23.7%          Nil
 23.7%                    4%
 Between 23.7% and 26.2%  Between 4% and 20% on a straight-line basis
 26.2% or more            20%

 

The Awards will vest in July 2026 after a performance measurement period of
three financial years (FY 2024 to FY 2026) and there is a Holding Period of
two years from the vesting date.

 

The following information is given in accordance with Article 19.3 of the
Market Abuse Regulation and is made on behalf of Brian Duffy a PDMR, in the
Watches of Switzerland Group PLC under article 19.1 of the Market Abuse
Regulation ('MAR').

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Brian Duffy

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Officer

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Watches of Switzerland Group PLC

 b)   LEI                                                          2138008ZOT5K9PJW7168

 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  Ordinary Shares of £0.0125 each

      Identification code                                          GB00BJDQQ870

 b)   Nature of the transaction                                    An award of nil cost options, granted under the Company's 2019 Long Term

                                                            incentive Plan.

 c)   Price(s) and volume(s)

                                                                                        Price(s)             Volume(s)
                                                                                        £nil                 149,365

 d)   Aggregated information

      - Aggregated volume                                          149,365

      - Price                                                      £nil

 e)   Date of the transaction                                      11 December 2023

 f)   Place of the transaction                                     XLON

 

The following information is given in accordance with Article 19.3 of the
Market Abuse Regulation and is made on behalf of Anders Romberg a PDMR, in
the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse
Regulation ('MAR').

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Anders Romberg

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Watches of Switzerland Group PLC

 b)   LEI                                                          2138008ZOT5K9PJW7168

 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  Ordinary Shares of £0.0125 each

      Identification code                                          GB00BJDQQ870

 b)   Nature of the transaction                                    An award of nil cost options, granted under the Company's 2019 Long Term

                                                            incentive Plan.

 c)   Price(s) and volume(s)

                                                                                        Price(s)             Volume(s)
                                                                                        £nil                 99,327

 d)   Aggregated information

      - Aggregated volume                                          99,327

      - Price                                                      £nil

 e)   Date of the transaction                                      11 December 2023

 f)   Place of the transaction                                     XLON

 

Enquiries:

Laura
Battley
                Lucy Legh / Rob Walker / Joanna Clark

Company Secretary and General Counsel
                Headland

T: 0207 317
4600
                                T: 0203 805 4822

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