Director/PDMR Shareholding

RNS Number : 6514S
Crest Nicholson Holdings PLC
18 March 2016
 

Crest Nicholson Holdings plc

Director/PDMR Shareholding

 

In accordance with the requirements of D.T.R 3.1.2, Crest Nicholson Holdings plc (the "Company") was notified on 17 March 2016 of the following transactions set out in this announcement by certain Directors of the Company and Persons Discharging Managerial Responsibility ("PDMRs") under the Crest Nicholson Holdings plc Long-Term Incentive Plan (the "LTIP")

 

LTIP Exercise

The Directors and PDMRs set out in the table below were granted options under the LTIP on 8 March 2013. On 8 March 2016 100% of the awards granted under the options became exercisable following satisfaction of the Performance Conditions (relating to return on capital employed, and growth in profit before tax per share). Further details relating to the Performance Conditions of these awards are set out in the Company's IPO Prospectus dated 13 February 2013 and Annual Report in respect of the year ending 31 October 2013 published on 17 February 2014.

 

On 14 March 2016, following the Company's decision to delay the exercise of options until after the ex-dividend date as part of facilitating an orderly exercise process, additional shares were added to each award, equivalent to the final dividend in respect of financial year ending 31 October 2015 as set out below:

 

Director/PDMR

Options granted 08/03/2013

Additional shares added in respect of dividend

Total

Stephen Stone*

535,800

14,167

549,967

Patrick Bergin*

300,000

7,932

307,932

Chris Tinker

145,221

3,839

149,060

Steve Evans

123,823

3,274

127,097

Robin Hoyles

99,107

2,620

101,727

Kevin Maguire

72,321

1,912

74,233

Tim Beale

56,283

1,488

57,771

*Denotes an Executive Director of the Company

 

The additional shares added to the options were calculated based on the ex-dividend share price associated with the dividend together with the value of that dividend, in proportion to the respective option.

 

On 16 March 2016, those Directors and PDMRs exercised (or part exercised) the options granted to them on 8 March 2013 under the LTIP together with the additional shares (as set out above) over Ordinary Shares of 5 pence each in the Company ("Shares"). Some Directors and PDMRs sold all the shares awarded to them and others sold sufficient shares to meet income tax and national insurance liabilities, retaining the balance. The Company allotted shares from the Company's block listing facility to satisfy the exercise of the Options. Full details of the exercises, subsequent sales and Option balance (in respect of those part-exercising) are set out below:

 


Share acquired upon exercise or part-exercise


Shares sold

Shares retained

8 March 2013 Option balance

Director/PDMR

Number

Percentage of total issued share capital

Exercise price

Number

Sale price per Share

Percentage of total issued share capital

Stephen Stone*

549,967

0.217%

£1.00 in total

259,393

£5.29

0.102%

290,574

Nil

Patrick Bergin*

307,932

0.121%

£1.00 in total

145,237

£5.29

0.057%

162,695

Nil

Chris Tinker

61,000

0.024%

£1.00 in total

28,771

£5.29

0.011%

32,229

88,060

Steve Evans

127,097

0.050%

£1.00 in total

127,097

£5.29

0.050%

Nil

Nil

Robin Hoyles

101,727

0.040%

£1.00 in total

47,980

£5.29

0.019%

53,747

Nil

Kevin Maguire

74,233

0.029%

£1.00 in total

35,013

£5.29

0.014%

39,220

Nil

Tim Beale

57,771

0.023%

£1.00 in total

57,771

£5.29

0.023%

Nil

Nil

*Denotes an Executive Director of the Company

 

Following the transactions set out in this announcement, the Company confirms that at the date of this announcement, each of those directors and PDMRs referenced in this announcement hold the following interests in the Ordinary Shares of 5 pence of the Company:

 

Director/PDMR

Total shareholding following transactions (including holdings of connected persons)

Total shareholding following transactions

Total number of shares over which options held

Stephen Stone*

4,358,177

1.719%

616,543

Patrick Bergin*

1,079,057

0.426%

348,246

Chris Tinker

1,336,056

0.527%

321,663

Steve Evans

157,765

0.062%

196,866

Robin Hoyles

439,870

0.173%

161,616

Kevin Maguire

149,954

0.059%

128,691

Tim Beale

377,165

0.149%

168,809

*Denotes an Executive Director of the Company

 

For further information please contact:

 

Kevin Maguire

Company Secretary                                                         +44 (0) 1932 580 555

 

18 March 2016

 


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