Director/PDMR Shareholding

RNS Number : 9562E

TClarke PLC

16 March 2022

 

TClarke plc
("the Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that on 16 March 2022, the following Executive Directors of the Company were granted nil cost conditional share awards over ordinary shares of 10p each in Company ("Shares") pursuant to the TClarke Long-term Incentive Plan ("the Plan") as follows:

Executive Director:	Number of conditional shares awarded:
Mark Lawrence	301,370
Mike Crowder	256,849
Trevor Mitchell	226,027

No consideration was paid for the grant of the conditional share awards.  The conditional share awards will normally vest on 16 March 2025, being the third anniversary of the date of grant, and will be subject to continued employment with the Company.

50% of the award will be subject to satisfaction of the earnings per share performance condition as set out below:

Annual growth in EPS above CPI*	Proportion of award vesting
Less than 3%	Nil
3%	25%
Between 3% and 10%	Between 25% and 100% on a straight-line basis
Above 10%	100%

*Base point from which performance is measured is based on average underlying EPS for the three years ended 31^st December 2021.

50% of the award is being made to incentivise the achievement of the Company's 3 year ambitious organic growth plan, achievement of which would substantially enhance earnings per share. This element of the award will be subject to satisfaction of the Total Shareholder Return (TSR) performance condition as set out below:

TSR*	Proportionofawardvesting
Lessthan35%	Nil
35%	25%
Between35%and50%	Between25%and100%onastraight-linebasis
Above 50%	100%

* Base point share price is the 3-month average to 31 December 2021. The share price at maturity is the 3-month average to 31 December 2024. Formal notifications in respect of the conditional share awards to the Executive D irectors are below; 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mark Lawrence 2 Reaso n for thenotification a) Position/status Group Chief Executive Officer and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 301,370 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2022-03-16 f) Place ofthetransaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Mike Crowder 2 Reaso n for thenotification a) Position/status Group Managing Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 256,849 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2022-03-16 f) Place ofthetransaction Outside a trading venue 1 Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated a) Na me Trevor Mitchell 2 Reaso n for thenotification a) Position/status Group Finance Director and Executive Director (PDMR). b) I nitial notification/Amendment Initial notification 3 Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor a) Na me TClarke plc b) L E I 213800OIP8MU517BK123 4 Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted a) Descriptio n ofthe financialinstrument,type of instrument I d e ntification code Ordinary shares of 10 pence each GB0002015021 b) Natureofthetransaction Grant of a conditional share award under the Long-term Incentive Plan c) Price(s ) and volume(s) Price(s) Volume(s) Nil 226,027 d) Aggr e g ate d information - Aggr e g a tedvolume - Price N/A (single transaction) e ) Dateofthetransaction 2022-03-16 f) Place ofthetransaction Outside a trading venue For further information contact: TClarke plc Mark Lawrence Group Chief Executive Trevor Mitchell Finance Director Tel: [phone]   www.tclarke.co.uk Cenkos Securities plc (Corporate Broker) Ben Jeynes (Corporate Finance) Alex Pollen (Sales) Tel: [phone]   www.cenkos.com RMS Partners Simon Courtenay Tel: [phone] 16 March 2022

 

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