Director/PDMR Shareholding
13 July 2023
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Second Vesting of 2019 Long Term Incentive Plan
11 July 2022 was the third anniversary of grant and the awards granted to Gavin Rochussen, Alexander Black, and Iain Evans under the Long Term Incentive Plan ("LTIP") vested. Details of the original grant on 11 July 2019 are contained in RNS No. 6003F and details of the initial vesting are contained in RNS No. 3329S.
The terms of the LTIP award provided for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and performance conditions.
Second Vesting of 2019 Conditional Award
11 July 2022 was the third anniversary of grant and the Conditional Awards granted to Samir Ayub and Nicholas Farren under the Company's Executive Incentive Plan vested. Details of the original grant on 11 July 2019 are contained in RNS No. 6708F and details of the initial vesting are contained in RNS No. 3329S.
The terms of the LTIP award provided for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment.
11 July 2023 was the fourth anniversary of both the LTIP and the Conditional Awards, and a further tranche of shares were released to the participants. These releases have been satisfied from shares held in the Employee Benefit Trust; at each vesting date there is a sale of sufficient shares to cover tax liabilities.
Details of the second vesting of the 2019 LTIP and Conditional awards and the sale of shares for each PDMR are 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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil |
115,610 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
11-07-2023 |
|||
|
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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
455.5623p |
63,111 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
12-07-2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Samir Ayub |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
Finance 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 2019 conditional award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil |
3,333 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
11-07-2023 |
|||
|
f)
|
Place of the transaction
|
Outside a trading venue |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Samir Ayub |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
Finance 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 2019 conditional award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
455.5623p |
1,819 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
12-07-2023
|
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Alexander Black |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
Chief Investment 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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil |
14,530 |
|
|
|
|
|
||||
|
e)
|
Date of the transaction
|
11-07-2022 |
|||
|
f)
|
Place of the transaction
|
Outside a trading venue |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Alexander Black |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
Chief Investment 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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
455.5623p |
7,932 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
12-07-2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM |
|||
|
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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil |
58,119 |
|
|
|
|
|
||||
|
e)
|
Date of the transaction
|
11-07-2023 |
|||
|
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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
455.5623p |
31,727 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
12-07-2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Nicholas Farren |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
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
|
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 2019 conditional award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil |
3,333 |
|
|
|
|
|
||||
|
e)
|
Date of the transaction
|
11-07-2023 |
|||
|
f)
|
Place of the transaction
|
Outside a trading venue |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Nicholas Farren |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
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
|
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 2019 LTIP Award |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
455.5623p |
1,819 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
Single transaction as in 4 c) above |
|||
|
|
|
||||
|
e)
|
Date of the transaction
|
12-07-2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM |
|||
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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