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Reach PLC (RCH)

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Monday 30 March, 2020

Reach PLC

Director/PDMR Shareholding

RNS Number : 1026I
Reach PLC
30 March 2020
 

30 March 2020

 

Reach plc (the "Company")

 

Grant of Awards under the Company's Restricted Share Plan ("RSP")

 

The independent trustee (the "Trustee") of the Company's Employees' Benefit Trust based in Jersey (the "Trust") notified the Company that on 27 March 2020 it granted Restricted Share awards under the RSP to Persons Discharging Managerial Responsibility ("PDMR") within the Company, in the amounts set out below.  

 

Under the terms of the RSP, the participant is the beneficial owner of the Restricted Shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of a three year vesting period (the "Restricted Period").

 

During the Restricted Period, a participant may not dispose of the Restricted Shares, and cannot vote or receive any dividends in respect of the Restricted Shares. An additional award of Restricted Shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.

 

During the Restricted Period, the Restricted Shares will be subject to the malus provisions of the RSP.

 

The base price for calculating the level of award was 96.9p, the average market closing price between 24 and 26 March 2020.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Jim Mullen 

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

 

 

Reach plc

b)

 

LEI

 

 

213800GNI5XF3XOATR61

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 10p Shares



Identification code

GB0009039941



b)

 

Nature of the transaction

 

 

Grant of an award of restricted shares under the Restricted Share Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£nil

33,500







d)

 

Aggregated information




- Aggregated volume

33,500



- Price

nil



e)

 

Date of the transaction

 

 

27 March 2020

f)

 

Place of the transaction

 

 

XLON

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Simon Fuller  

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

 

 

Reach plc

b)

 

LEI

 

 

213800GNI5XF3XOATR61

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 10p Shares



Identification code

GB0009039941



b)

 

Nature of the transaction

 

 

Grant of an award of restricted shares under the Restricted Share Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£nil

14,958







d)

 

Aggregated information




- Aggregated volume

14,958



- Price

nil



e)

 

Date of the transaction

 

 

27 March 2020

f)

 

Place of the transaction

 

 

XLON

 

 

 

 

Enquiries



Reach

020 7293 3000

Jim Mullen, Chief Executive Officer

Simon Fuller, Chief Financial Officer

Lorraine Clover, Group Company Secretary

 


Tulchan Communications

020 7353 4200

David Allchurch, Partner




LEI: 213800GNI5XF3XOATR61

Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

 


 


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