Grant of share awards to PDMR
Gresham House plc
("Gresham House" or "the Company")
PDMR Dealings
Grant of share awards to PDMR
Gresham House (AIM: GHE), the specialist alternative asset manager , announces that on 23 December 2020, awards relating to ordinary shares of 25p each in the capital of the Company were granted under the Company's Performance Share Plan 2018 (the "Plan") to certain persons discharging managerial responsibilities of the Company ("PDMRs") as listed below.
|
PDMR |
Position |
% allocation of related plan pools |
|
|
Anthony Dalwood |
Chief Executive Officer |
32.5% |
|
|
Rupert Robinson |
Managing Director |
23.5% |
|
|
Kevin Acton |
Chief Financial Officer |
16.5% |
|
|
Andrew Hampshire |
Chief Operating Officer |
13.5% |
|
|
Samee Khan |
Chief Legal Officer |
12.0% |
|
At the same time as the grant of such awards, awards relating in aggregate to a 2.0% allocation of the related plan pools were also granted under the Plan to a selected employee.
The awards have been made to align the management team with the delivery of the Company's five-year strategic plan, GH25, which was announced with the annual results for the year to 31 December 2019.
Each award is structured as a nil cost option over a number of shares to be determined on vesting in accordance with the awards' pool principles and the participant's personal percentage allocation of related plan pools.
In summary, the pool principles will measure the total return to shareholders over (i) 1 January 2020 to 31 December 2023 (the first measurement period) and (ii) 1 January 2020 to 31 December 2024 (the second measurement period), reflecting the GH25 five-year strategic plan period announced. In the event that total return to shareholders over the first measurement period is 7% p.a. ("Performance Hurdle") or more, a maximum related plan pool of value equal to 7.5% of such total return may arise. In the event that total return to shareholders is more than the Performance Hurdle over the second measurement period, a maximum of 15% of such total return to shareholders may arise (less any pool value distributed under the awards in respect of the first measurement period).
Return to shareholders for such purposes shall be measured from a base value of £165,706,250, being the ninety-day average market capitalisation of the Company to 1 January 2020, to respective ninety-day market capitalisation averaging periods at each of the measurement periods and shall include the value of dividends (assumed reinvested) and other capital (if any) returned. Appropriate adjustments to the required minimum 7% p.a. level of growth in return shall be made in respect of any capital raised during the measurement periods.
In the event the Performance Hurdle is achieved, the participant's percentage allocation of related plan pool shall, subject to any scaling back, result in their award becoming vested and exercisable in respect of a corresponding number of ordinary shares (share of pool value divided by a ninety-day average share price). Shares acquired in respect of the first measurement period determinations must ordinarily be retained (net of sales for tax) until at least 31 December 2024, and those acquired in respect of the second measurement period determinations must be ordinarily be retained (net of sales for tax) until the announcement of the Company's results in respect of 2024.
The number of shares in respect of which the awards may vest in respect of plan pool determinations, when aggregated with those issuable or issued in respect of awards granted under the Plan and any other Company employees' share scheme in the preceding ten years, shall not exceed 20% of prevailing issued share capital in accordance with the AIM Admission circular dated 4 November 2015. Scaling back of awards shall apply to such extent as required to ensure this limit is not breached.
Once vested, the awards may remain exercisable in respect of their vested shares until the tenth anniversary of the award's grant date.
Rights in respect of the awards shall ordinarily be forfeit upon cessation of employment with the Company in accordance with the Plan.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
|
1 |
Details of the persons discharging managerial responsibilities I person closely associated |
|||||
|
a) |
N a me |
Anthony Dalwood |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
CEO |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Gresham House plc |
||||
|
b) |
LEI |
213800JYVCBZZHBFEL28 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted |
|||||
|
a) |
Descriptionof the financial instrument, type of instrument |
Ordinary Shares of 25p each in Gresham House |
||||
|
Identification code |
GB0003887287 |
|||||
|
b) |
Nature of the transaction |
Grant of a nil cost option award under the Gresham Performance Share Plan 2018. The number of shares in respect of which the award may vest (if any) shall be determined in accordance with award's pool principles in respect of measurement periods ending 31 December 2023 and 31 December 2024. Anthony Dalwood's % maximum allocation of related plan pools for such purposes is 32.5%. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
||||
|
e) |
Date of the transaction |
23 December 2020 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the persons discharging managerial responsibilities I person closely associated |
|||||
|
a) |
N a me |
Rupert Robinson |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Managing Director |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Gresham House plc |
||||
|
b) |
LEI |
213800JYVCBZZHBFEL28 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted |
|||||
|
a) |
Descriptionof the financial instrument, type of instrument |
Ordinary Shares of 25p each in Gresham House |
||||
|
Identification code |
|
|||||
|
b) |
Nature of the transaction |
Grant of a nil cost option award under the Gresham Performance Share Plan 2018. The number of shares in respect of which the award may vest (if any) shall be determined in accordance with award's pool principles in respect of measurement periods ending 31 December 2023 and 31 December 2024. Rupert Robinson's % maximum allocation of related plan pools for such purposes is 23.5%. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
||||
|
e) |
Date of the transaction |
23 December 2020 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the persons discharging managerial responsibilities I person closely associated |
|||||
|
a) |
N a me |
Kevin Acton |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Financial Officer |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Gresham House plc |
||||
|
b) |
LEI |
213800JYVCBZZHBFEL28 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted |
|||||
|
a) |
Descriptionof the financial instrument, type of instrument |
Ordinary Shares of 25p each in Gresham House |
||||
|
Identification code |
|
|||||
|
b) |
Nature of the transaction |
Grant of a nil cost option award under the Gresham Performance Share Plan 2018. The number of shares in respect of which the award may vest (if any) shall be determined in accordance with award's pool principles in respect of measurement periods ending 31 December 2023 and 31 December 2024. Kevin Acton's % maximum allocation of related plan pools for such purposes is 16.5%. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
||||
|
e) |
Date of the transaction |
23 December 2020 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the persons discharging managerial responsibilities I person closely associated |
|||||
|
a) |
N a me |
Andrew Hampshire |
||||
|
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 |
Gresham House plc |
||||
|
b) |
LEI |
213800JYVCBZZHBFEL28 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted |
|||||
|
a) |
Descriptionof the financial instrument, type of instrument |
Ordinary Shares of 25p each in Gresham House |
||||
|
Identification code |
|
|||||
|
b) |
Nature of the transaction |
Grant of a nil cost option award under the Gresham Performance Share Plan 2018. The number of shares in respect of which the award may vest (if any) shall be determined in accordance with award's pool principles in respect of measurement periods ending 31 December 2023 and 31 December 2024. Andrew Hampshire's % maximum allocation of related plan pools for such purposes is 13.5%. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
||||
|
e) |
Date of the transaction |
23 December 2020 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the persons discharging managerial responsibilities I person closely associated |
|||||
|
a) |
N a me |
Samee Khan |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Legal Officer |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Gresham House plc |
||||
|
b) |
LEI |
213800JYVCBZZHBFEL28 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted |
|||||
|
a) |
Descriptionof the financial instrument, type of instrument |
Ordinary Shares of 25p each in Gresham House |
||||
|
Identification code |
|
|||||
|
b) |
Nature of the transaction |
Grant of a nil cost option award under the Gresham Performance Share Plan 2018. The number of shares in respect of which the award may vest (if any) shall be determined in accordance with award's pool principles in respect of measurement periods ending 31 December 2023 and 31 December 2024. Samee Khan's % maximum allocation of related plan pools for such purposes is 12.0%. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
||||
|
e) |
Date of the transaction |
23 December 2020 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
-ends-
|
For more information contact: Gresham House plc Kevin Acton, Chief Financial Officer Anthony Dalwood, Chief Executive Officer
|
+44 (0)20 3837 6271
|
|
Houston - Media & Analysts Alexander Clelland Anushka Mathew
|
gh@houston.co.uk +44 (0)20 4529 0549 |
|
Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Georgina McCooke
|
+44 (0)20 7523 8000 |
|
Jefferies International Limited - Financial Adviser and Joint Broker Paul Nicholls Max Jones |
+44 (0)20 7029 8000 |
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.
Latest directors dealings
- 12 hours ago ASOS
- 12 hours ago MJ Gleeson
- 12 hours ago Rolls-Royce Holdings
- 13 hours ago Crest Nicholson Holdings
- 13 hours ago Naked Wines