NOTIFICATION AND
PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
The Company has today confirmed long term awards under the DMGT
Long Term Executive Incentive Plan 2017 as outlined in our
Remuneration Policy and in the Company’s 2016 Annual Report. The
award is intended to:
- Provide a direct link between pay and performance of the
business – with the opportunity for exceptional levels of reward
linked to truly exceptional business performance.
- Reward the delivery of sustainable long term growth and capital
efficiency.
To achieve this the plan has been designed to give participants
a share of profit growth before tax above a minimum growth
threshold - ensuring that the award is appropriately challenging
and the Executive is not rewarded unless a minimum performance
threshold is reached.
To ensure that Shareholders’ capital is used efficiently, a
capital charge (or credit) will apply for any additional capital
used (or released) relative to the starting level.
The outcome will be delivered in A Ordinary Non-Voting shares
upon vesting at the end of FY 2019, calculated by reference to a
share price of £7.88 (the average share price for the first 3 days
following the release of FY 2016 results).
The outcome for each participant is subject to a maximum. Awards
would only vest at the maximum level were a highly exceptional
level of performance to be met, resulting in significant value
creation for shareholders.
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a) |
Name |
Lord
Rothermere |
2 |
Reason
for the notification |
a) |
Position/status |
Chairman |
b) |
Initial notification/Amendment |
Initial
notification |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
Daily Mail and General
Trust plc |
b) |
LEI |
4OFD47D73QFJ1T1MOF29 |
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 |
A
Ordinary Non-Voting Shares of 12.5 pence each
GB0009457366 |
b) |
Nature of the transaction |
Grant of
award under the Daily Mail and General Trust Long Term Executive
Incentive Plan 2017. The Award is structured as a cash award,
subject to continued service and performance conditions, the value
of which will be delivered in ordinary non-voting shares upon
vesting calculated by reference to the share price as at the start
of the performance period.
Outcomes are linked to stretching targets for cumulative growth in
profits over a minimum growth threshold, subject to adjustment for
any change in capital usage. |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0 |
Such number of shares
as equal 1.25% of the growth in profit before tax, subject to a
minimum growth threshold and after a charge for capital used, over
the 3 years to 30 September 2019.
Subject to a maximum of 531,091 shares. |
|
d) |
Aggregated information
- |
Aggregated volume |
- |
Price |
|
Not applicable,
single transaction. |
e) |
Date of the transaction |
19 June 2017 |
f) |
Place of the transaction |
London Stock Exchange
(XLON) |
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a) |
Name |
Paul
Zwillenberg |
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 |
Daily Mail and General
Trust plc |
b) |
LEI |
4OFD47D73QFJ1T1MOF29 |
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 |
A
Ordinary Non-Voting Shares of 12.5 pence each
GB0009457366 |
b) |
Nature of the transaction |
Grant of
award under the Daily Mail and General Trust Long Term Executive
Incentive Plan 2017. The Award is structured as a cash award,
subject to continued service and performance conditions, the value
of which will be delivered in ordinary non-voting shares upon
vesting calculated by reference to the share price as at the start
of the performance period.
Outcomes are linked to stretching targets for cumulative growth in
profits over a minimum growth threshold, subject to adjustment for
any change in capital usage. |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0 |
Such number of shares
as equal 1.25% of the growth in profit before tax, subject to a
minimum growth threshold and after a charge for capital used, over
the 3 years to 30 September 2019.
Subject to a maximum of 475,888 shares. |
|
d) |
Aggregated information
- |
Aggregated volume |
- |
Price |
|
Not applicable,
single transaction. |
e) |
Date of the transaction |
19 June 2017 |
f) |
Place of the transaction |
London Stock Exchange
(XLON) |
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a) |
Name |
Timothy
Collier |
2 |
Reason
for the notification |
a) |
Position/status |
Chief Finance
Officer |
b) |
Initial notification/Amendment |
Initial
notification |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
Daily Mail and General
Trust plc |
b) |
LEI |
4OFD47D73QFJ1T1MOF29 |
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 |
A
Ordinary Non-Voting Shares of 12.5 pence each
GB0009457366 |
b) |
Nature of the transaction |
Grant of
award under the Daily Mail and General Trust Long Term Executive
Incentive Plan 2017. The Award is structured as a cash award,
subject to continued service and performance conditions, the value
of which will be delivered in ordinary non-voting shares upon
vesting calculated by reference to the share price at the date
employment commenced.
Outcomes are linked to stretching targets for cumulative growth in
profits over a minimum growth threshold, subject to adjustment for
any change in capital usage. |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0 |
Such number of shares
as equal 0.75% of the growth in profit before tax, subject to a
minimum growth threshold and after a charge for capital used, over
the 3 years to 30 September 2019.
Subject to a maximum of 280,851 shares. |
|
d) |
Aggregated information
- |
Aggregated volume |
- |
Price |
|
Not applicable,
single transaction. |
e) |
Date of the transaction |
19 June 2017 |
f) |
Place of the transaction |
London Stock Exchange
(XLON) |
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a) |
Name |
Kevin J
Beatty |
2 |
Reason
for the notification |
a) |
Position/status |
Executive
Director |
b) |
Initial notification/Amendment |
Initial
notification |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
Daily Mail and General
Trust plc |
b) |
LEI |
4OFD47D73QFJ1T1MOF29 |
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 |
A
Ordinary Non-Voting Shares of 12.5 pence each
GB0009457366 |
b) |
Nature of the transaction |
Grant of
award under the Daily Mail and General Trust Long Term Executive
Incentive Plan 2017. The Award is structured as a cash award,
subject to continued service and performance conditions, the value
of which will be delivered in ordinary non-voting shares upon
vesting calculated by reference to the share price as at the start
of the performance period.
Outcomes are linked to stretching targets for cumulative growth in
profits over a minimum growth threshold, subject to adjustment for
any change in capital usage. |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0 |
Such number of shares
as equal 0.75% of the growth in profit before tax, subject to a
minimum growth threshold and after a charge for capital used, over
the 3 years to 30 September 2019.
Subject to a maximum of 318,655 shares. |
|
d) |
Aggregated information
- |
Aggregated volume |
- |
Price |
|
Not applicable,
single transaction. |
e) |
Date of the transaction |
19 June 2017 |
f) |
Place of the transaction |
London Stock Exchange
(XLON) |
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a) |
Name |
Claire
Chapman |
2 |
Reason
for the notification |
a) |
Position/status |
General Counsel &
Company Secretary |
b) |
Initial notification/Amendment |
Initial
notification |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
Daily Mail and General
Trust plc |
b) |
LEI |
4OFD47D73QFJ1T1MOF29 |
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 |
A
Ordinary Non-Voting Shares of 12.5 pence each
GB0009457366 |
b) |
Nature of the transaction |
Grant of
award under the Daily Mail and General Trust Long Term Executive
Incentive Plan 2017. The Award is structured as a cash award,
subject to continued service and performance conditions, the value
of which will be delivered in ordinary non-voting shares upon
vesting calculated by reference to the share price as at the start
of the performance period.
Outcomes are linked to stretching targets for cumulative growth in
profits over a minimum growth threshold, subject to adjustment for
any change in capital usage. |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0 |
Such number of shares
as equal 0.5% of the growth in profit before tax, subject to a
minimum growth threshold and after a charge for capital used, over
the 3 years to 30 September 2019.
Subject to a maximum of 212,437 shares. |
|
d) |
Aggregated information
- |
Aggregated volume |
- |
Price |
|
Not applicable,
single transaction. |
e) |
Date of the transaction |
19 June 2017 |
f) |
Place of the transaction |
London Stock Exchange
(XLON) |
Name of officer responsible for making notification:
Fran Sallas, Deputy Company Secretary DMGT, 0203 615 2904