De La Rue PLC Director/PDMR Shareholding (2720T)
17 July 2020 - 2:12AM
UK Regulatory
TIDMDLAR
RNS Number : 2720T
De La Rue PLC
16 July 2020
De La Rue plc
Director/PDMR Shareholding
Notification of transactions by persons discharging managerial
responsibilities and persons closely associated with them
16 July 2020
De La Rue plc (the "Company") announces a change in the
interests of Clive Vacher, an Executive Director and Person
Discharging Managerial Responsibilities ("PDMR") of the Company, in
ordinary shares of 44 (152/175) p in the capital of the Company
("Shares").
De La Rue Performance Share Plan ("PSP")
In accordance with the PSP, Mr. Vacher was granted a nil-cost
option (the "Option") over 340,187 Shares on 14 July 2020 ("Award
Date") subject to the rules of the PSP. The number of Shares
awarded was calculated by reference to a price of 132.28 pence
being the average of the Company's middle market closing price for
a Share for the five consecutive dealing days commencing on 7 July
2020.
The Option was granted subject to performance conditions
measured over a three-year performance period as outlined
below.
Minimum Threshold Maximum
0% 25% 100%
---- ------------- ---------- ---------------
Average annual cumulative
EPS Growth 50% <11% 11-19.2% 19.2%
---- ------------- ---------- ---------------
TSR vs FTSE 250 constituents
(3 year average) 50% Below Median Median Upper Quartile
---- ------------- ---------- ---------------
As always, the Remuneration Committee will consider the outcome
of these performance measures and would make an adjustment to the
formulaic outcome if it believes that there is misalignment with
the Group's strategic goals or shareholder interests or in the
event that it believed the achievement represented an inappropriate
windfall gain.
The Option will vest subject to the satisfaction of the
performance conditions relating to the Option and the rules of the
PSP.
In line with the UK Corporate Governance Code, the Option will
be subject to an aggregate vesting and holding period of five
years.
The number of Shares shown below represents the maximum that may
be acquired if all performance conditions are achieved in full. The
Company may also transfer additional Shares to reflect the value of
dividends that would have been paid on the Shares in respect of
which the Option vests over the period between the Award Date and
the end of the post-vesting holding period.
The relevant notification set out below is provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Clive Vacher
----------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status Executive Director/Chief Executive
Officer
----------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name De La Rue plc
----------------------------- ----------------------------------------------
b) LEI 213800DH741LZWIJXP78
----------------------------- ----------------------------------------------
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 Ordinary shares of 44 (152/175) p
instrument, type of
instrument
GB00B3DGH821
Identification code
----------------------------- ----------------------------------------------
b) Nature of the transaction Grant of a nil-cost option over 340,187Shares
under the rules of the Performance
Share Plan.
----------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 340,187
----------
----------------------------- ----------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
- Aggregated total
----------------------------- ----------------------------------------------
e) Date of the transaction 14 July 2020
----------------------------- ----------------------------------------------
f) Place of the transaction London, outside a trading venue
----------------------------- ----------------------------------------------
Jane Hyde, Company Secretary
Contact Number: 01256 605212
16 July 2020
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
This information is provided by RNS, the news service of the
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END
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