Grant of retention awards to PDMRs
19 June 2019
Premier Asset Management Group PLC
("Premier" or the "Company")
Grant of retention awards to PDMRs
Premier Asset Management Group PLC (AIM: PAM) today announces that it has awarded grants, subject to certain retention arrangements, of nil-cost contingent share rights (the "Awards") over ordinary shares of 0.02p each in Premier ("Shares") as detailed below.
Grant of Awards
In order to ensure that appropriate retention arrangements are in place for its senior management team, the Company has elected to make certain awards out of a proportion of the existing shares contained within the Company's Employee Benefit Trust. The Employee Benefit Trust currently holds 4,642,830 ordinary shares in the Company, representing 4.388% of the issued ordinary share capital. The Company has a separate LTIP scheme to grant share awards to certain employees and directors of the Company, though to date this has not been used.
On 23 April 2019, Premier granted Awards over 390,000 Shares held within the Employee Benefit Trust to certain Persons Discharging Managerial Responsibilities ("PDMRs"), the details of which are set out below.
Vesting of the Awards is subject to continued employment and malus and clawback provisions. These Awards will vest on the third anniversary of the date of grant, although they may vest earlier if there is a change of control event or, in certain circumstances, if a participant becomes a good leaver. The breakdown of the awards made to PDMRs is as follows:
|
Executive Director |
Awards |
|
Michael O'Shea |
275,000 |
|
Neil Macpherson |
115,000 |
|
Total |
390,000 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Enquiries:
|
Premier Asset Management Group PLC |
Tel: 01483 306090 Mike O'Shea
|
|
Numis Securities Limited (NOMAD and Broker) |
Tel: 020 7260 1000 Kevin Cruickshank Charles Farquhar
|
|
Liberum Capital Limited (Joint Broker) |
Tel: 020 3100 2000 Richard Crawley Jamie Richards
|
|
Smithfield Consultants (Financial PR) |
Tel: 020 3047 2544 John Kiely Andrew Wilde |
Note to editors
About Premier
Premier is a UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds. Premier had £7.0 billion of assets under management as at 30 April 2019.
LEI Number: 213800LK2M4CLJ4H2V85
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Disclosure in relation to award of ordinary shares
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Michael O'Shea - Chief Executive Officer
|
|
2 |
Reason for the notification |
|
|
a) |
Position/status |
Chief Executive Officer - classified as PDMR of Premier Asset Management Group PLC |
|
b) |
Initial notification /Amendment |
Initial notification |
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a) |
Name |
Premier Asset Management Group PLC |
|
b) |
LEI |
213800LK2M4CLJ4H2V85 |
|
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
|
b) |
Nature of the transaction |
Award of Ordinary Shares in Premier Asset Management Group PLC, subject to a vesting period |
|
c) |
Price(s) and volume(s)
|
Price- nil Volume: 275,000
|
|
d)
|
Aggregated information
|
n/a |
|
e) |
Date of the transaction |
23rd April 2019 |
|
f) |
Place of the transaction |
Outside a trading venue |
Disclosure in relation to award of ordinary shares
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Neil Macpherson - Group Finance Director
|
|
2 |
Reason for the notification |
|
|
a) |
Position/status |
Group Finance Director - classified as PDMR of Premier Asset Management Group PLC |
|
b) |
Initial notification /Amendment |
Initial notification |
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a) |
Name |
Premier Asset Management Group PLC |
|
b) |
LEI |
213800LK2M4CLJ4H2V85 |
|
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 0.02p each in Premier Asset Management Group PLC. ISIN: GB00BZB2KR63 |
|
b) |
Nature of the transaction |
Award of Ordinary Shares in Premier Asset Management Group PLC, subject to a vesting period |
|
c) |
Price(s) and volume(s)
|
Price- nil Volume: 115,000
|
|
d)
|
Aggregated information
|
n/a |
|
e) |
Date of the transaction |
23rd April 2019 |
|
f) |
Place of the transaction |
Outside a trading venue |
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