Notification of Transactions of Directors

Severfield PLC
09 October 2023
 

9th October 2023

 

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 share options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2019 and 5th October 2020. These options vested on 28th June 2022 and 5th October 2023 respectively 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 received a cash payment.  This only applied to directors who already satisfy the Company's shareholding requirement.  In accordance with the rules of the Plan, 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 the tax being settled in cash.

2019 DSBP

Name

Number of shares awarded on 28th June 2019

Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment  

Cash paid to settle tax calculated at a share price of £0.61

Cash to be paid to participant after tax calculated at a share price of £0.61

Shares retained by individual

Alan Dunsmore

50,724

57,884

£16,595

n/a

30,678

 

 

 

 

 

 

 

 

2020 DSBP

Name

Number of shares awarded on 5 October 2020

Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment  

Cash paid to settle tax calculated at a share price of £0.61

Cash to be paid to participant after tax calculated at a share price of £0.61

Shares retained by individual

Alan Dunsmore

194,314

222,158

£63,693

£71,823

0

Derek Randall

 164,474

188,042

£30,425

£84,280

0

Adam Semple

 127,410

145,667

£41,763

n/a

77,203

 

 1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Alan Dunsmore

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

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

1.   Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.

2.   Exercise of DSBP award and settlement of that exercise with a cash payment.

c)

Price(s) and volume(s)

1.

Price

Volume

Total

Share settlement

£0.00

30,678

£0

Cash settlement

£0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled)

27,206

£16,595






2.   Price

Volume

Total

£0.61(price per share paid to settle the exercise of the DSBP award)

222,158

£135,516

d)

Aggregated information

-

Aggregated volume

-

Price

Not applicable-single transaction

e)

Date of the transaction

2023-10-05

 

f)

Place of the transaction

Outside a trading venue

 

 

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 settlement of that exercise with a cash payment.

c)

Price(s) and volume(s)

Price

Volume

Total

£0.61 (price per share paid to settle the exercise of the DSBP award)

188,042

£114,705

d)

Aggregated information

-

Aggregated volume

-

Price

Not applicable-single transaction

e)

Date of the transaction

2023-10-05

 

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adam Semple

2

Reason for the notification

a)

Position/status

CFO

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 partly in shares and partly with a cash payment.

c)

Price(s) and volume(s)

 


Price

Volume

Total

Share settlement

£0.00

77,203

£0

Cash settlement

£0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled)

68,464

£41,763

d)

Aggregated information

-

Aggregated volume

-

Price

Not applicable-single transaction

e)

Date of the transaction

2023-10-05

 

f)

Place of the transaction

Outside a trading venue

 

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END
 
 

Companies

Severfield (SFR)
UK 100