Director/PDMR Shareholding

RNS Number : 5904K

Urban&Civic plc

14 December 2018

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

14 December 2018

Urban&Civic plc

Robin Butler, on 11 December 2018, exercised entitlements over shares of 20 pence in Urban and Civic plc under the Company's Deferred Share Bonus Plan ("Deferred Bonus Awards") and Performance Share Plan ("PSP Award"). He will settle the related option price and tax withholding obligation from the proceeds of having sold on the same date some of those shares to the Company's employee benefit trust.  He intends to retain the remaining shares.  In summary the transactions are as follows:

PDMR	A No. of shares delivered under the Deferred Bonus Awards	B No. of shares delivered under the PSP Award	Shares sold for settlement of the option price (B) and tax withholding obligation (A and B)
Robin Butler	86,045	98,217	90,533

A)   50% of the annual bonus payable to the PDMR for the years ended 30 September 2015 and 2016 were deferred for a vesting period of two years (which ended on the second anniversary of the fourth dealing day after the announcement of results in November 2017 and 2018 respectively), subject to continued employment. Further details will be included in the next Directors' Remuneration Report.

B)    The PSP award granted in September 2014 vested at 28.7% in December 2017.

The awards will be settled by a transfer of shares from the Company's employee benefit trust to the PDMR above. 

Details of the full notifications received by the Company are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robin Butler
2	Reason for Notification
a)	Position/status	Managing Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Urban&Civic plc
b)	LEI	213800WL3TK2BJGFCY44
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	Ordinary Shares of 20 pence each in Urban&Civic plc
	Identification code	GB00BKT04W07
b)	Nature of the transaction	Acquisition of shares in settlement of the exercise of the 2015 and 2016 deferred annual bonus awards¹ and partial exercise of the 2014 PSP award².
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 86,045¹ £0.20 98,217²
d)	Aggregated information -     Aggregated volume -     Price	184,262 £19,643.40
e)	Date of the transaction	11 December 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robin Butler
2	Reason for Notification
a)	Position/status	Managing Director
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Urban&Civic plc
b)	LEI	213800WL3TK2BJGFCY44
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	Ordinary Shares of 20 pence each in Urban&Civic plc
	Identification code	GB00BKT04W07
b)	Nature of the transaction	Sale to the Company's employee benefit trust
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.65 90,533
d)	Aggregated information -     Aggregated volume -     Price	N/A
e)	Date of the transaction	11 December 2018
f)	Place of the transaction	Outside a trading venue

 

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