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Derwent London PLC (DLN)

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Thursday 10 March, 2022

Derwent London PLC

Director/PDMR Shareholding

RNS Number : 3743E
Derwent London PLC
10 March 2022
 

For immediate release

 

 

Derwent London plc
 ("Derwent London"/"the Company")

 

Notification of interests of Directors and Persons Discharging
Managerial Responsibility ("PDMR")

 

 

The Company announces the following changes to the interests of Directors in the Company's ordinary shares of 5p each ('Shares').

 

Grant of Award

 

On 9 March 2022, the Company granted the following share-based Awards under the Derwent London Performance Share Plan 2014 (the 'PSP').

 

Name

Role

PSP Award

(Number)

Paul M Williams

Chief Executive Officer

42,942

Damian M A Wisniewski

Chief Financial Officer

34,352

Nigel Q George

Director

34,352

Emily J Prideaux

Director

30,653

 

Awards granted under the PSP (structured as nil cost options) will vest on 9 March 2025 but only to the extent that certain performance conditions based on total shareholder return and total property return are satisfied over a performance period which ends on 31 December 2024.  No consideration is payable on the grant or vesting of an Award. 

 

Following vesting and subject to the Company's share dealing procedures, PSP Awards can be exercised at any time up until the tenth anniversary of grant.

 

The Directors are each required to retain their net of tax liability number of vested Shares (if any) delivered under their Award for at least two years from the point of vesting (the 'Holding Period') and are each entitled to additional vesting shares for dividend equivalents in respect of dividends paid on vested shares between the grant date and the earlier of the date of exercise or the expiry of the Holding Period.

 

This announcement is made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure and Transparency Rules.

 

The Company was notified of the grant of all Awards on 9 March 2022.

 

 

Enquiries:

D A Lawler

Company Secretary

 

10 March 2022

 

020 7659 3000

www.derwentlondon.com

 

 

The information set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

 

1.

Details the person discharging managerial responsibilities / person closely associated

a)

Name

Paul M Williams

2.

Reason for the notification

a)

Position / status

Chief Executive Officer

b)

Initial notification / Amendment

Initial notification

 

3.

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

a)

Name

 Derwent London plc

b)

LEI

 213800BXKQ9KZNUR1M61

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

 

5p Ordinary shares in Derwent London plc

 

GB0002652740

b)

Nature of the transaction

Grant of a nil cost option award under the Derwent London Performance Share Plan 2014.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

42,942



 

 

d)

Aggregated information

Aggregated volume

Price

 

Not applicable - single transaction

e)

Date of the transaction

9 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details the person discharging managerial responsibilities / person closely associated

a)

Name

Damian M A Wisniewski

2.

Reason for the notification

a)

Position / status

Chief Financial Officer

b)

Initial notification / Amendment

Initial notification

 

3.

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

a)

Name

 Derwent London plc

b)

LEI

 213800BXKQ9KZNUR1M61

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

 

5p Ordinary shares in Derwent London plc

 

GB0002652740

b)

Nature of the transaction

Grant of a nil cost option award under the Derwent London Performance Share Plan 2014.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

34,352



 

 

d)

Aggregated information

Aggregated volume

Price

 

Not applicable - single transaction

e)

Date of the transaction

9 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details the person discharging managerial responsibilities / person closely associated

a)

Name

Nigel Q George

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

 Derwent London plc

b)

LEI

 213800BXKQ9KZNUR1M61

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

 

5p Ordinary shares in Derwent London plc

 

GB0002652740

b)

Nature of the transaction

Grant of a nil cost option award under the Derwent London Performance Share Plan 2014.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

34,352



 

 

d)

Aggregated information

Aggregated volume

Price

 

Not applicable - single transaction

e)

Date of the transaction

9 March 2022

f)

Place of the transaction

Outside a trading venue

 

1.

Details the person discharging managerial responsibilities / person closely associated

a)

Name

Emily J Prideaux

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

 Derwent London plc

b)

LEI

 213800BXKQ9KZNUR1M61

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

 

5p Ordinary shares in Derwent London plc

 

GB0002652740

b)

Nature of the transaction

Grant of a nil cost option award under the Derwent London Performance Share Plan 2014.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

30,653



 

 

d)

Aggregated information

Aggregated volume

Price

 

Not applicable - single transaction

e)

Date of the transaction

9 March 2022

f)

Place of the transaction

Outside a trading venue

 

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