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Fuller, Smith & Turner PLC (FSTA)

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Thursday 16 January, 2020

Fuller, Smith & Turner PLC

Director/PDMR Shareholding

Fuller, Smith & Turner PLC (FSTA)
Fuller, Smith & Turner PLC: Director/PDMR Shareholding

16-Jan-2020 / 14:45 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

Fuller, Smith & Turner P.L.C.

 

Share Scheme Awards and Adjustments

 

At its meeting on 15 January 2020, the Remuneration Committee made awards under the Company's Long-Term Incentive Plan ("LTIP") which included the notifiable awards set out below.

 

All awards are over a combination of both 40p 'A' ordinary and 4p 'B' ordinary shares.

 

The calculation of the awards was based on the closing price as at 14 January 2020, being £9.61 for 'A' shares and £0.961 (notionally) for 'B' shares.

 

At the same meeting, the Remuneration Committee granted options under the Company's Executive Share Option Scheme ("ESOS") which included the notifiable awards set out below.

 

The options granted are over 40p 'A' ordinary shares and the option price was based on the closing price as at 14 January 2020, being £9.61.

 

An award amounts to a contractual right to acquire an interest in shares, provided the director remains an employee at the third anniversary of the grant (the normal vesting date), and only to the extent that the performance condition attached to the scheme is met. These criteria are based on a sliding scale which may result in less than the full award vesting.

 

As explained in the circular dated 6 September 2019 issued to shareholders in connection with the Return of Capital following the Disposal of the Fuller's Beer Business, the Remuneration Committee also adjusted awards subsisting under the LTIP on 1st October 2019 (being the record date for the for participating in the Return of Capital) to reflect the value the participants would otherwise have received.  The price used to determine the additional number of shares was the closing 'A' share price on 1 October 2019 (being £11.975) less the per share value of the Return of capital (being £1.25).  This amounted to £10.725 for A ordinary shares under award and £1.0725 for B ordinary shares under award.  The adjustments included the notifiable awards set out below.

 

Finally, the Remuneration Committee also adjusted the award made in August 2019 under the Company's Deferred Bonus Plan on the same basis as for the LTIP above.  The adjustment included the notifiable award set out below.

 

Enquiries:

Severine Bequin

020 8996 2073

Company Secretary

 

 

 

 

 

 

 

 

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Emeny

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

Fuller, Smith & Turner P.L.C.

 

b)

LEI

 213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

 

A shares - GB00B1YPC344

B shares- unlisted

b)

Nature of the transaction

Award made under the Fuller, Smith & Turner P.L.C. Long Term Incentive Plan 2018

 

c)

Price(s) and volume(s)

Price

Volume

 

 

A shares

Share Price

B shares

Share Price

LTIP22

         45,785

£9.61

         114,464

£0.961

 

d)

Aggregated

 information

As Above

Aggregated volume

As above

Price

As Above

e)

Date of the transaction

15/01/2020

 

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Emeny

2.

Reason for the notification

a)

Position/status

CEO

 

b)

Initial notification/Amendment

Amendment

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

 213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

A shares - GB00B1YPC344

B shares- unlisted

b)

Nature of the transaction

Adjustment of existing award under Fuller, Smith & Tuner P.L.C. Long Term Incentive Plan 2008

 

c)

Price(s) and volume(s)

Price

Volume

 

 

Original number of A shares under award

Increase in the number of A shares under award

A Share Price for the purpose of adjustment

Original number of B shares under award

Increase in the number of B shares under award

B Share Price for the purpose of adjustment

LTIP20

                 36,595

                 4,265

£10.725

       91,489

             10,663

£1.0725

LTIP21

                 40,000

                 4,662

£10.725

    100,000

             11,655

£1.0725

TOTAL

                 76,595

                 8,927

 

    191,489

             22,318

 

 

d)

Aggregated information

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

 

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

 

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Emeny

2.

Reason for the notification

a)

Position/status

CEO

 

b)

Initial notification/Amendment

Amendment

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

 213800C7ACOFMRCQQW76

 

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

A Ordinary Shares of 40p each

 

 

GB00B1YPC344

b)

Nature of the transaction

Adjustment of existing award under Fuller, Smith & Tuner P.L.C. Deferred Bonus Plan

c)

Price(s) and volume(s)

Price

Volume

 

 

Original number of A shares under award

Increase in the number of A shares under award

A Share Price for the purpose of adjustment

DBP19

           4,424

             515

£10.725

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

 

f)

Place of the transaction

Outside of a trading venue

 

             

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adam Councell

2.

Reason for the notification

a)

Position/status

Finance Director

 

b)

Initial notification/Amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

A shares - GB00B1YPC344

B shares- unlisted

b)

Nature of the transaction

Award made under the Fuller, Smith & Turner P.L.C. Long Term Incentive Plan 2018

 

c)

Price(s) and volume(s)

Price

Volume

 

A shares

Share Price

B shares

Share Price

LTIP22

         28,844

£9.61

           72,112

£0.961

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adam Councell

2.

Reason for the notification

a)

Position/status

Finance Director

 

b)

Initial notification/Amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

 

 

GB00B1YPC344

b)

Nature of the transaction

Option granted under the Fuller Smith & Turner P.L.C. Executive Share Option Scheme 2018

 

c)

Price(s) and volume(s)

Price

Volume

 

A shares

Share Price

ESOS19

3,121

£9.61

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

 

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Fred Turner

2.

Reason for the notification

a)

Position/status

Retail Director

 

b)

Initial notification/Amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

A shares - GB00B1YPC344

B shares- unlisted

 

b)

Nature of the transaction

Award made under the Fuller, Smith & Turner P.L.C. Long Term Incentive Plan 2018

 

c)

Price(s) and volume(s)

Price

Volume

 

 

A shares

Share Price

B shares

Share Price

LTIP22

         13,735

£9.61

           34,339

£0.961

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

 

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Fred Turner

2.

Reason for the notification

a)

Position/status

Retail Director

 

b)

Initial notification/Amendment

Amendment

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

A shares - GB00B1YPC344

B shares- unlisted

 

b)

Nature of the transaction

Adjustment of existing award under Fuller, Smith & Tuner P.L.C. Long Term Incentive Plan 2008

 

c)

Price(s) and volume(s)

Price

Volume

 

 

Original number of A shares under award

Increase in the number of A shares under award

A Share Price for the purpose of adjustment

Original number of B shares under award

Increase in the number of B shares under award

B Share Price for the purpose of adjustment

LTIP20

             4,883

              569

£10.725

    12,209

          1,422

£1.0725

LTIP21

             1,237

              144

£10.725

      3,094

             360

£1.0725

TOTAL

6120

              713

 

    15,303

          1,782

 

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

f)

Place of the transaction

Outside of a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Fred Turner

2.

Reason for the notification

a)

Position/status

Retail Director

 

b)

Initial notification/Amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

 213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

 

A shares - GB00B1YPC344

 

 

b)

Nature of the transaction

-Option Granted under the Fuller, Smith & Turner P.L.C. Executive Share Option Scheme 2018

 

 

c)

Price(s) and volume(s)

Price

Volume

 

A shares

Share Price

ESOS19

 

           520

£9.61

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Fuller

2.

Reason for the notification

a)

Position/status

Corporate Affairs Director

 

b)

Initial notification/Amendment

Amendment

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Fuller, Smith & Turner P.L.C.

 

b)

LEI

 213800C7ACOFMRCQQW76

 

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

A ordinary Shares of 40p each

B Ordinary Shares of 4p each

 

 

A shares - GB00B1YPC344

B shares- unlisted

b)

Nature of the transaction

Adjustment of existing award under Fuller, Smith & Tuner P.L.C. Long Term Incentive Plan 2008

 

c)

Price(s) and volume(s)

Price

Volume

 

   

Original number of A shares under award

Increase in the number of A shares under award

A Share Price for the purpose of adjustment

Original number of B shares under award

Increase in the number of B shares under award

B Share Price for the purpose of adjustment

LTIP20

           11,808

           1,376

£10.725

    29,521

          3,440

£1.0725

LTIP21

           12,906

              1,504

£10.725

    32,267

          3,760

£1.0725

TOTAL

           24,714

           2,880

 

    61,788

          7,200

 

 

 

d)

Aggregated information

 

As Above

Aggregated volume

As Above

Price

As Above

e)

Date of the transaction

15/01/20

f)

Place of the transaction

Outside of a trading venue

 

 



ISIN: GB00B1YPC344
Category Code: DSH
TIDM: FSTA
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 41093
EQS News ID: 955433

 
End of Announcement EQS News Service

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