Director/PDMR Shareholding

RNS Number : 6602F
Polar Capital Holdings PLC
19 July 2021
 

19 July 2021

 

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

 

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

 

On 16 July 2018 Gavin Rochussen, John Mansell and Iain Evans were granted awards under the Long Term Incentive Plan ("LTIP"), as part of the Company's Equity Incentive Plan. Details of the original grant are contained in RNS No. 7916U.

 

The terms of the LTIP award provide for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and the achievement of an EPS performance condition by reference to the adjusted diluted total EPS for the year ended 31 March 2021.

 

The third anniversary of this award was on 16 July 2021.

 

The adjusted diluted total EPS for the 2020/21 financial year was 62.2p and as this exceeded the stretch target of 49p, the awards will vest in full.

 

A holding period will apply to the first two tranches of the awards, thereby creating a five year gap between the grant of the award and potential release or sale of any shares, except any sales required to cover tax and national insurance liabilities.

 

The following table provides details of the vesting of the awards:

 

Name

Title

2018 LTIP Award

 

(100% vesting)

Shares vested on 16 July 2021

(1st Vesting Date)

Shares vested on 16 July 2022

(2nd Vesting Date)

Shares vested on 16 July 2023

(3rd Vesting Date)

 

Gavin Rochussen

Chief Executive Officer

233,918

77,972

77,972

77,974

John Mansell

Executive Director

131,578

43,859

43,859

43,860

Iain Evans

Global Head of Distribution

87,719

29,239

29,239

29,241

 

On each vesting date there will be a sale of sufficient shares to cover tax liabilities and the remaining shares will be retained under the holding period.  These awards have been satisfied by the release of shares from the Employee Benefit Trust to the participants, who have established nominee accounts with the EBT for the retention of the shares during the holding period.  

 

Details of the first vesting and sale of shares for each PDMR is provided below:

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

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

 

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

77,972






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

16-07-2021

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

 

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

 

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




879.11p

42,885






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

16-07-2021

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

John Mansell

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

43,859






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

16-07-2021

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

John Mansell

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




879.11p

24,122






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

16-07-2021

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Iain Evans

2

 

Reason for the notification

 

a)

 

Position/status

 

Global Head of Distribution

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

29,239




e)

 

Date of the transaction

 

16-07-2021

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Iain Evans

2

 

Reason for the notification

 

a)

 

Position/status

 

Global Head of Distribution

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 the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




879.11p

16,081






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

16-07-2021

f)

 

Place of the transaction

 

London Stock Exchange, AIM, XLON

 

Enquiries:

 

Polar Capital +44 (0)20 7227 2700

Gavin Rochussen (Chief Executive)

John Mansell (Executive Director) 

Samir Ayub (Finance Director)

 

Numis Securities Limited - Nomad and Joint Broker  +44 (0)20 7260 1000

Charles Farquhar

Stephen Westgate

Kevin Cruickshank (QE)

 

Peel Hunt LLP - Joint Broker  +44 (0)20 3597 8680

Andrew Buchanan

Rishi Shah

 

Camarco  +44 (0)20 7757 4995

Ed Gascoigne-Pees

Jennifer Renwick

Monique Perks  

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHVKLBFFDLEBBX
UK 100

Latest directors dealings