Director/PDMR Shareholding

RNS Number : 7830T
Polar Capital Holdings PLC
22 July 2020
 

 

22 July 2020

 

Polar Capital Holdings plc ("Polar Capital" or the "Company")

 

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)/Persons Closely Associated (PCAs)

Mr Rochussen, on his appointment as chief executive on 17 July 2017, joined the Company's Executive Incentive Plan and was awarded a deferred, forfeitable interest in 802,967 ordinary shares of the Company (the "Award") .

The terms of the Award provide for the release of one-third of the shares on the first, second and third anniversary of its granting.

The third anniversary of this Award was on 18 July 2020. On 20 July 2020, being the first working day after the anniversary, 267,655 ordinary shares in the Company were transferred from the Polar Capital Employee Benefit Trust to Mr Rochussen at nil cost.

 

Of these, a total of 145,000 ordinary shares of the Company were sold in order to raise funds to meet the tax liability linked to this third release of ordinary shares under the Award. This sale occurred over three days, with 36,000 shares sold at 484.5p on 20 July 2020, 7,600 shares sold at 485p on 21 July 2020 and 101,400 shares sold at 489p on 22 July 2020.  The balance of 122,655 ordinary shares were then transferred to Mr Rochussen.

 

Mr Rochussen has made an undertaking not to dispose of the net shares for a period of 5 years from the grant date of 18 July 2017.  

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Executive Director

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Polar Capital Holdings plc

b)

 

LEI

 

549300OXX7YE1947B825

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Acquisition of an interest in the shares of the Company on vesting of one third of initial share award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

267,655






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



- Aggregated volume

267,655



- Price

Nil

 



e)

 

Date of the transaction

 

20-07-2020

f)

 

Place of the transaction

 

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Executive Director

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Polar Capital Holdings plc

b)

 

LEI

 

549300OXX7YE1947B825

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of initial share award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




484.5 pence

36,000






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



- Aggregated volume




- Price

 

 



e)

 

Date of the transaction

 

20-07-2020

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Executive Director

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Polar Capital Holdings plc

b)

 

LEI

 

549300OXX7YE1947B825

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of initial share award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




485.0 pence

7,600






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



- Aggregated volume




- Price




e)

 

Date of the transaction

 

21-07-2020

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Executive Director

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Polar Capital Holdings plc

b)

 

LEI

 

549300OXX7YE1947B825

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of initial share award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




489.00 pence

101,400






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



- Aggregated volume




- Price




e)

 

Date of the transaction

 

22-07-2020

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

Enquiries:

 

Polar Capital Holdings

Numis Securities Limited - Nomad and Joint Broker

Gavin Rochussen (CEO)

Charles Farquhar

John Mansell (Executive Director)

Stephen Westgate

Neil Taylor (Company Secretary)

Kevin Cruickshank (QE)

Tel:  +44 (0)20 7227 2700

+44 (0)20 7260 1000




Peel Hunt LLP - Joint Broker


Andrew Buchanan


Rishi Shah


Tel: +44 (0)20 7418 8893

 


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