Director/PDMR Shareholding

RNS Number : 9505I

DWF Group PLC

17 August 2021

 

DWF Group plc

("DWF" or "the Company")

LEI: 213800O9QREOHTOGQ266

17 August 2021

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs')

On 16 August 2021, the Company granted to each of the PDMRs listed in the table below a LTIP award over such number of Ordinary Shares of 1p each in the Company (Shares) as is set out below (the Awards). The Awards are conditional awards granted under the DWF Group plc Equity Incentive Plan (the EIP).

Name	Maximum number of Shares under Award
Executive Director
Sir Nigel Knowles	819,346
Chris Stefani	353,356
Matthew Doughty	331,272

The Awards will vest after three years, in accordance with the EIP rules, subject to continued employment and the satisfaction of the performance conditions  relating to earnings per share ("EPS") growth, return on capital employed ("ROCE") growth and cash conversion rate over a three-year performance period from 1 May 2021 to 30 April 2024.

The performance targets for the LTIP awards are set out below:

Performance condition and percentage of award opportunity	Threshold (20%)	Target (50%)	Maximum (100%)
Cumulative three-year EPS (40% weighting)	33.8p	37.6p	41.3p
Average annual ROCE (40% weighting)	26%	29%	32%
Average cash conversion (20% weighting)	82%	91%	101%

In accordance with the EIP rules, the vested Shares will be subject to a two-year holding  period before the Shares are released. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of £1.132 was used.

On 16 August 2021, the Company also granted to each of the PDMRs listed in the table below a Deferred Bonus Plan Award over such number of Shares as is set out below (the "DBP Awards"). The DBP Awards represent 50% of the bonus awarded for the period up to 30 April 2021. The DBP Awards are conditional awards granted under the DWF Group plc Deferred Bonus Plan or the DWF LLP Sub-group Deferred Bonus Plan (the "DBP").

Name	Maximum number of Shares under Award
Executive Director
Sir Nigel Knowles	130,300
Chris Stefani	130,300
Matthew Doughty	130,299
Michele Cicchetti	56,349

The DBP Awards will vest after three years, in accordance with the DBP rules, subject to continued employment. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of £1.132 was used.

The notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

For further information please contact:

Darren Drabble	[phone]
Company Secretary

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sir Nigel Knowles
2	Reason for the notification
a)	Position/status	Group Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DWF Group plc
b)	Legal Entity Identifier	213800O9QREOHTOGQ266
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 £0.01 each  ISIN: GB00BJMD6M39
b)	Nature of the transaction	Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	819,346
		nil	130,300
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	n/a
f)	Date of the transaction	2021-08-16
g)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Chris Stefani
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DWF Group plc
b)	Legal Entity Identifier	213800O9QREOHTOGQ266
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 £0.01 each  ISIN: GB00BJMD6M39
b)	Nature of the transaction	Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	353,356
		nil	130,300
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	n/a
f)	Date of the transaction	2021-08-16
g)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Matthew Doughty
2	Reason for the notification
a)	Position/status	Group Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DWF Group plc
b)	Legal Entity Identifier	213800O9QREOHTOGQ266
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 £0.01 each  ISIN: GB00BJMD6M39
b)	Nature of the transaction	Grant of conditional awards over such number of Ordinary Shares of 1p each under the EIP and DBP
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	331,272
		nil	130,299
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	n/a
f)	Date of the transaction	2021-08-16
g)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michele Cicchetti
2	Reason for the notification
a)	Position/status	Partner Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DWF Group plc
b)	Legal Entity Identifier	213800O9QREOHTOGQ266
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 £0.01 each  ISIN: GB00BJMD6M39
b)	Nature of the transaction	Grant of conditional awards over such number of Ordinary Shares of 1p each under the DBP
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	56,349
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	n/a
f)	Date of the transaction	2021-08-16
g)	Place of the transaction	Outside of a trading venue

 

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