Director/PDMR Shareholding

Polar Capital Holdings PLC

18 July 2023

 

18 July 2023

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

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

Grant of 2023 Long Term Incentive Plan Awards (LTIP)

Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July 2023 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.

Director / PDMR	Position	No. of shares under Award
Gavin Rochussen	Chief Executive Officer	206,103
Samir Ayub	Finance Director	107,066
Alexander Black	Chief Investment Officer	117,773
Iain Evans	Global Head of Distribution	117,773
Nicholas Farren	Chief Operating Officer	102,784

Vesting of the Awards is subject to continued employment and performance based on the following measures:

-      50% of each Award is subject to a performance condition relating to the performance of the Company's total shareholder return relative to the constituents of the FTSE 250 Index (excluding investment trusts) as at the Grant Date.

-      50% of each Award is subject to a performance condition requiring the Company's adjusted diluted total earnings per share to achieve a pre-set level for the financial year 2025/26 (the end of three financial years commencing on 1 April 2023). 

Conditional Award to CIO

A conditional share award over 130,800 ordinary shares of 2.5 pence each in Polar Capital Holdings PLC was made on 16 July 2023 to the Chief Investment Officer, Alexander Black. This award is subject to a 3-year vesting period and continued service, after which the shares will be released in two equal tranches on the 3^rd and 4^th anniversaries of the grant date.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 206,103
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 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 Notification
a)	Position/status	Finance Director
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 107,066
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2023
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 Notification
a)	Position/status	Chief Investment Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 117,773
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 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 Notification
a)	Position/status	Global Head of Distribution
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 117,773
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 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 Notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 102,784
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2023
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 Notification
a)	Position/status	Chief Investment Officer
b)	Initial notification/Amendment	Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
	Identification code	GB00B1GCLT25
b)	Nature of the transaction	Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Award may vest after 3 years subject to continued service. Any vested shares will be released in equal tranches on the third and fourth anniversaries of grant.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 130,800
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	16 July 2023
f)	Place of the transaction	Outside a trading venue

Enquiries:

Polar Capital                                                                              [phone]

Gavin Rochussen (Chief Executive) 

Samir Ayub (Finance Director)

Numis Securities Limited - Nomad and Joint Broker            [phone]

Giles Rolls (QE)

Charles Farquhar

Stephen Westgate

Peel Hunt LLP - Joint Broker                                                   [phone]

Andrew Buchanan

Camarco                                                                                    [phone]

Ed Gascoigne-Pees

Jennifer Renwick

Phoebe Pugh              

 

END