Director/PDMR Shareholding

RNS Number : 6484Q

Severfield PLC

29 June 2022

 

29^th June 2022

Severfield plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification relates to the vesting and exercise of nil cost options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28^th June 2019. These options vested on 28 June 2022 and were exercised and settled as set out below.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they were allocated shares out of the Severfield EBT and some of these were then sold to settle their tax liability with the remainder then being sold and the cash value transferred to the director.

This only applied to directors who already satisfy the Company's shareholding requirement for executive directors. 

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit with shares out of the Severfield EBT being sold to settle their tax liability.

Name	Number of shares awarded on 28 June 2019	Number of shares vested and exercised on 28 June 2022 after dividend equivalent adjustment	Shares sold to settle tax calculated at a share price of £0.62	Cash paid to participant after tax calculated at a share price of £0.62	Shares retained by individual
Derek Randall	111,521	125,827	49,073	£47,587	0
Adam Semple	31,884	35,974	17,357	n/a	18,617

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Derek Randall
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Severfield plc
b)	LEI	21380025AWPR781CY104
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 2.5p GB00B27YGJ97
b)	Nature of the transaction	Exercise of DSBP award and sale of shares to settle tax liability with an after tax cash payment.
c)	Price(s) and volume(s)	Price Volume Total £0.62 125,827 £78,013
d)	Aggregated information - Aggregated volume - Price	Not applicable-single transaction
e)	Date of the transaction	2022-06-28
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Adam Semple
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	Severfield plc
b)	LEI	21380025AWPR781CY104
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 2.5p GB00B27YGJ97
b)	Nature of the transaction	Exercise of DSBP award and settlement of that exercise by selling some shares to pay for tax and share transfer to the value of the after tax benefit.
c)	Price(s) and volume(s)	Price Volume Total £0.62 17,357 £10,761
d)	Aggregated information - Aggregated volume - Price	Not applicable-single transaction
e)	Date of the transaction	2022-06-28
f)	Place of the transaction	XLON

 

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