Director/PDMR Shareholding

RNS Number : 7435T
Chesnara PLC
26 November 2021
 

CHESNARA plc

("Chesnara" or "the Company")

 

26 November 2021

 

LEI Number: 213800VFRMBRTSZ3SJ06

 

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ('PDMRs')

 

Further to the appointment of Steve Murray as Group Chief Executive on 19 October 2021, Chesnara plc (the 'Company') today announces that, under the terms of his appointment, Steve (a PDMR) was granted awards in the ordinary shares of the Company under the Chesnara plc 2014 Long-Term Incentive Scheme to compensate him for remuneration arrangements forfeited on leaving his former employer, The Royal London Mutual Insurance Society Limited.  These awards were made in accordance with the Company's Directors' Remuneration Policy and are subject to the Executive Directors' Minimum Shareholding Policy.

 

The notification below, which is being made in accordance with the requirements of Article-19 of the EU Market Abuse Regulation 596/2014 as retained in UK law by virtue of the European Union (Withdrawal) Act 2018, provides further detail of the awards granted.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

b)

Natural person: 

Legal person 

Steven Grant Murray

2

Reason for the notification

a)

Position/status:

Executive Director and Group Chief Executive

b)

Initial notification/amendment

Initial notification

3

Details of the Issuer

a)

Name

Chesnara plc

b)

Legal Entity Identifier:

213800VFRMBRTSZ3SJ06

4

Details of the transaction(s): Parts a-d of this section are 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)

Chesnara plc Ordinary Shares of 5 pence each

(GB00B00FPT80)

b)

Nature of the transaction

GRANT 1

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to a performance target ending 31 December 2021.

 

Subject to the achievement of the performance target, the option will become exercisable on 31 December 2021 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

GRANT 2

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to a performance target ending 31 December 2021.

 

Subject to the achievement of the performance target, the option will become exercisable on 30 June 2022 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

GRANT 3

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to a performance target ending 31 December 2022.

 

Subject to the achievement of the performance target, the option will become exercisable on 31 December 2022 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

GRANT 4

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to performance targets ending 31 December 2022.

 

Subject to the achievement of the performance target, the option will become exercisable on 30 April 2023 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

GRANT 5

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to performance targets ending 30 June 2023.

 

Subject to the achievement of the performance target, the option will become exercisable on 30 June 2023 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

GRANT 6

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to performance targets ending 31 December 2023.

 

Subject to the achievement of the performance target, the option will become exercisable on 30 April 2024 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

GRANT 7

Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to performance targets ending 31 December 2023.

 

Subject to the achievement of the performance target, the option will become exercisable on 30 June 2024 and remain exercisable up to and including 26 November 2031 if not exercised before that date.

 

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

GRANT 1

50,456 Ordinary shares of 5p each

Nil

GRANT 2

119,089 Ordinary shares of 5p each

Nil

GRANT 3

50,456 Ordinary shares of 5p each

Nil

GRANT 4

119,089 Ordinary shares of 5p each

Nil

GRANT 5

20,722 Ordinary shares of 5p each

Nil

GRANT 6

140,105 Ordinary shares of 5p each

Nil

GRANT 7

33,625 Ordinary shares of 5p each

d)

Aggregated information

- Aggregated volume

- Price

 

533,542 ORDINARY SHARES OF 5P EACH

Nil

e)

Date of the transaction (YYYY - MM - DD)

2021-11-26

f)

Place of the transaction

XOFF

 

 

Name of authorised official of issuer responsible for making notification: - Al Lonie

 

Date of notification: - 26 November 2021

 

For further information, please contact:

 

Roddy Watt

Director, Capital Markets

FWD

Forward thinking communications

 

T  -  020 7280 0651 

E  -  roddy.watt@fwdconsulting.co.uk  

 

 

Notes to Editors

Chesnara is a life and pensions company listed on the London Stock Exchange.  It administers approximately 900,000 policies and operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.

 

Following a three-pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in Sweden and the Netherlands and by undertaking value-adding acquisitions of either companies or portfolios.

 

Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 17 years in succession.

 

Further details are available on the Company's website ( www.chesnara.co.uk ).

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