Director/PDMR Shareholding

Law Debenture Corp PLC

20 March 2026

 

20 March 2026 

The Law Debenture Corporation p.l.c.

Notification of Transactions by Persons Discharging Managerial Responsibility

The Law Debenture Corporation p.l.c. (the "Corporation") announces that the following transactions, set out below, were undertaken by directors / persons discharging managerial responsibility ("PDMRs").

The relevant notifications set out below are provided in accordance with the requirements of UK market abuse regulations.

Deferred Share Bonus Plan

Acquisition of shares

As set out in the Corporation's Remuneration Policy approved by shareholders on 30 March 2023, half of any bonus earned by the Executive Directors above £100,000 will be deferred in shares for three years with enhanced malus and clawback provisions applying. In accordance with that policy, 6,009 deferred share awards for Denis Jackson and 2,624 deferred share awards for Trish Houston, both Executive Directors, were granted under the Plan on 19 March 2026 at a price of 11,124 pence per share (the "awards"). 

The awards granted under the Plan are held in trust and no consideration is payable on the grant or vesting of the awards. The number of shares to which each award relates is increased by the reinvestment of dividends due on the shares held in trust. 

1	Details of the person discharging managerial responsibilities
a)	Name	Denis Jackson
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	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	6,009 deferred share awards granted under the Corporation's Deferred Share Bonus Plan.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	6,009
d)	Aggregated information
	- Aggregated volume	6,009
	- Price	Nil consideration
e)	Date of the transaction	19 March 2026
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	Trish Houston
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	2,624 deferred share awards granted under the Corporation's Deferred Share Bonus Plan.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	2,624
d)	Aggregated information
	- Aggregated volume	2,624
	- Price	Nil consideration
e)	Date of the transaction	19 March 2026
f)	Place of the transaction	Outside a trading venue

Long Term Incentive Plan

The following transactions were also undertaken by PDMRs in accordance with the rules of the Corporation's Long Term Incentive Plan ('LTIP'). The LTIP was established to reward eligible participants in a way that aligns their interests with the interests of shareholders and with the Corporation's long-term strategic plan. 

Name	Status	Number of Ordinary Shares awarded in 2026	Option Price
Denis Jackson	Chief Executive Officer	62,433	£Nil
Trish Houston	Chief Operating Officer	47,195	£Nil

Furthermore, options to acquire Ordinary Shares have been awarded to members of the senior management team within the Corporation's group of companies. In aggregate, options to acquire 157,149 Ordinary Shares have been awarded under the LTIP ('LTIP Awards') on 19 March 2026.

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 11,124 pence per share for the 2026 award being the average of the closing share prices over the five dealing days from the date of the Annual Report announcement.

The vesting date of the LTIP Awards will be 19 March 2029, being the third anniversary of the award dates. Once vested, the LTIP Awards will normally be exercisable until the day before the tenth anniversary of the award date. The LTIP Awards are subject to a two-year holding period commencing on vesting.

The LTIP Awards will vest after three years based on a compound annual growth rate in profits before interest and tax of the Corporation's independent professional services business measured over a three year period.  At 4% p.a. growth 20% of the LTIP Award will vest rising on a straight-line basis to 100% for 14% p.a. growth.  Under the LTIP rules, the Remuneration Committee has full discretion to ensure that the final vesting outturn reflects all relevant factors, including consideration of any windfall gains. 

The relevant notifications set out below are provided in accordance with the requirements of UK market abuse regulations.

1	Details of the person discharging managerial responsibilities
a)	Name	Denis Jackson
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	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	Grant of nil cost options under The Law Debenture Corporation p.l.c. Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	62,433
d)	Aggregated information
	- Aggregated volume	62,433
	- Price	Nil consideration
e)	Date of the transaction	19 March 2026
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	Trish Houston
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Law Debenture Corporation p.l.c.
b)	LEI	2138006E39QX7XV6PP21
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 5 pence each
	Identification code	GB0031429219
b)	Nature of the transaction	Grant of nil cost options under The Law Debenture Corporation p.l.c. Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil consideration	47,195
d)	Aggregated information
	- Aggregated volume	47,195
	- Price	Nil consideration
e)	Date of the transaction	19 March 2026
f)	Place of the transaction	Outside a trading venue

 

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