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Park Group PLC (APP)

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Friday 21 December, 2018

Park Group PLC

Director/PDMR Shareholding

RNS Number : 3271L
Park Group PLC
21 December 2018
 

Park Group plc

 

("Park" the "Company" or the "Group")

 

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

 

Awards under the Park Group plc Strategic Growth Plan

 

Following the adoption of the Park Group plc Strategic Growth Plan (the "Plan") the Company has today, 21 December, 2018, granted awards under the Plan to the directors of the Company listed below.

 

Under the terms of the Plan, participants have the right to receive a proportion of a pool of ordinary shares of 2 pence each in the Company ("Ordinary Shares") that in aggregate deliver a value equal to 10% of the value created for shareholders over a 5 year performance period beginning from the date of grant. The awards will vest for nil consideration and are subject to certain performance conditions, principally delivering a total shareholder return in excess of 10% p.a. compound growth during the performance period. The awards will be settled in Ordinary Shares. In consideration for the grant of the awards under the Plan, any entitlement to receive a usual award under the Company's Long Term Incentive Plan ("LTIP") will be suspended for the participants during this period.

 

An overall cap on the maximum number of shares that can be granted under the SGP is set at 5% of the outstanding share capital at grant to prevent excessive payouts or dilution. This will sit outside of the current share plan limits and therefore be in addition to the current 10% limit that applies to awards under the LTIP and the Company's Save As You Earn scheme.

 

The number of Ordinary Shares under award will be determined and vest at the end of the 5 year performance period, or earlier in the event of a change of control of the Company, and will be calculated at that time by reference to the director's percentage entitlement to the growth in value below.

Director

Position

Percentage entitlement of 10% pool

IAN O'DOHERTY

CHIEF EXECUTIVE OFFICER

45%

TIM CLANCY

CHIEF FINANCIAL OFFICER

25%

 

 

For further information, please contact:  

Park Group plc

Arden Partners plc

MHP Communications

 

Ian O'Doherty

 

Steve Douglas

Benjamin Cryer

Paul Shackleton

 

Reg Hoare

Katie Hunt

Charles Hirst

 

Tel: 0151 653 1700

 

Tel: 020 7614 5920

 

Tel: 020 3128 8100

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

 

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

Ian O'Doherty

2

Reason for the notification

a)

Position/status

Director - CEO

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Park Group plc

b)

LEI

213800MQ5U1F8SPHK638

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

Ordinary shares of 2p each

 

 

 

ISIN: GB0006710643

b)

Nature of the transaction

Grant of award under the Park Group plc Strategic Growth Plan

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

Such number of shares as equals 4.5% of the growth in value above a 10% CAGR over 5 years from the date of grant of the award

d)

Aggregated information

-

 Aggregated volume

-

Price

 

N/A

e)

Date of the transaction

21 December 2018

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Tim Clancy

2

Reason for the notification

a)

Position/status

Director - CFO

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Park Group plc

b)

LEI

213800MQ5U1F8SPHK638

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

Ordinary shares of 2p each

 

 

 

ISIN: GB0006710643

b)

Nature of the transaction

Grant of award under the Park Group plc Strategic Growth Plan

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

Such number of shares as equals 2.5% of the growth in value above a 10% CAGR over 5 years from the date of grant of the award

d)

Aggregated information

-

 Aggregated volume

-

Price

 

N/A

e)

Date of the transaction

21 December 2018

f)

Place of the transaction

London Stock Exchange

 


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