Director/PDMR Shareholding

XPS Pensions Group PLC

23 July 2026

 

23 July 2026

XPS Pensions Group plc
(the "Company")

TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

XPS announces that, on 22 July 2026, Paul Cuff (Co-Chief Executive Officer), Ben Bramhall (Co-Chief Executive Officer), and Snehal Shah (Chief Financial Officer), all persons discharging managerial responsibilities ("PDMRs"), exercised nominal-cost options granted on 17 July 2023 under the Company's Performance Share Plan ("PSP") to acquire ordinary shares of 0.05 pence each in the Company ("Ordinary Shares").

Following exercise, the Directors sold Ordinary Shares to pay the related income tax and National Insurance contributions arising upon the acquisition of Ordinary Shares.

In addition, on 22 July 2026, Snehal Shah (Chief Financial Officer and PDMR) transferred 50,000 Ordinary Shares of 0.05 pence each in the Company to his spouse, Meeta Shah, a person closely associated, for nil consideration.

Further details are set out in the below notification, made in accordance with the requirements of the UK Market Abuse Regulation. 

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Benjamin Bramhall
b)	Position/status	Co-Chief Executive Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Acquisition of Ordinary Shares following the exercise of nominal-cost options granted under the XPS Pensions Group plc Performance Share Plan on 17 July 2023.
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.05p 333,200 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	n/a

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Benjamin Bramhall
b)	Position/status	Co-Chief Executive Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Disposal of Ordinary Shares to satisfy income tax and National Insurance contributions liability relating to option exercise.
c)	Price(s) and volume(s)	Price(s) Volume(s) 329.9p 157,182 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	London Stock Exchange (XLON)

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Paul Cuff
b)	Position/status	Co-Chief Executive Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Acquisition of Ordinary Shares following the exercise of nominal-cost options granted under the XPS Pensions Group plc Performance Share Plan on 17 July 2023.
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.05p 333,200 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	n/a

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Paul Cuff
b)	Position/status	Co-Chief Executive Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Disposal of Ordinary Shares to satisfy income tax and National Insurance contributions liability relating to option exercise.
c)	Price(s) and volume(s)	Price(s) Volume(s) 329.9p 157,182 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	London Stock Exchange (XLON)

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Snehal Shah
b)	Position/status	Chief Financial Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Acquisition of Ordinary Shares following the exercise of nominal-cost options granted under the XPS Pensions Group plc Performance Share Plan on 17 July 2023.
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.05p 241,239 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	n/a

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Snehal Shah
b)	Position/status	Chief Financial Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Disposal of Ordinary Shares to satisfy income tax and National Insurance contributions liability relating to option exercise.
c)	Price(s) and volume(s)	Price(s) Volume(s) 329.9p 113,801 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	London Stock Exchange (XLON)

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Snehal Shah
b)	Position/status	Chief Financial Officer / PDMR
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Transfer of Ordinary Shares to spouse for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 50,000 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	Meeta Shah
b)	Position/status	PCA of Snehal Shah (Chief Financial Officer and PDMR)
c)	Initial notification/ amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	XPS Pensions Group plc
b)	LEI	2138004Y8OBPJEAACJ11
3.	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 transaction(s) has been conducted
a)	Description of the financial instrument	Ordinary shares of 0.05 pence each ("Ordinary Shares")  ISIN: GB00BDDN1T20
b)	Nature of the transaction	Transfer of Ordinary Shares from spouse / PDMR for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 50,000 Ordinary Shares
d)	Aggregated information Aggregated volume Price	n/a (single transaction)
e)	Date of the transaction	22 July 2026
f)	Place of the transaction	Outside a trading venue

-Ends-

For further information, contact:

XPS Group
Sarah Rixon Group Company Secretary	[phone] / [e-mail]

Notes to Editors:

XPS Group is a leading consulting and administration business focused on UK pension schemes and insurers. XPS combines expertise, insight and technology to address the needs of over 1,300 pension schemes and their sponsoring employers on an ongoing and project basis, also providing advice and administration to UK insurance companies. We undertake pensions administration for c. 1.2 million members and provide advisory services to schemes and corporate sponsors in respect of schemes of all sizes, including 83 with assets over £1bn.

 

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