Hastings Group Holdings plc Director/PDMR Shareholding (0250N)
20 September 2019 - 1:56AM
UK Regulatory
TIDMHSTG
RNS Number : 0250N
Hastings Group Holdings plc
19 September 2019
Director/PDMR Shareholding
FOR IMMEDIATE RELEASE
19 September 2019
Hastings Group Holdings plc
Notification of Transactions by Directors/Persons Discharging
Managerial Responsibility ('PDMRs')
Conditional awards over ordinary shares of GBP0.02 pence in
Hastings Group Holdings plc (the "Company") were granted to the
following PDMR under the Hastings 2015 Long-Term Incentive Plan
(the "Award(s)") as follows:
Name/Award Position/Date of Grant Number of shares
subject to Award
John Worth CFO
First Award 16 September 2019 510,368
Second Award 18 September 2019 403,772
No consideration was paid for the grant of the Awards.
The number of shares subject to the Awards was determined by
using the average mid-market closing price of the Company's
ordinary shares over the five consecutive dealing days beginning
with the dealing day on which the Company made a preliminary
announcement of its half year results for the period ended 30 June
2019, which was GBP1.8614 pence per share.
First Award
The vesting of the Award is subject to the PDMR's continued
employment with the Company and performance conditions measuring
the Company's EPS and TSR over a performance period of three
financial years, commencing 1 January 2019. The Award is subject to
a holding period of two years upon vesting.
Second Award
The Award will vest, subject to the PDMR's continued employment
with the Company, in four tranches as follows: 100,943 Shares on 30
March 2020; 100,943 Shares on 30 March 2021; 100,943 Shares on 30
March 2022; and 100,943 Shares on 30 March 2023.
There are no performance conditions attaching to the Award and
no holding period applies upon vesting.
The Award was approved by the Company's Remuneration Committee,
in accordance with the requirements of LR 9.4.2R(2) of the FCA's
Listing Rules, in order to facilitate the PDMR's recruitment as
Chief Financial Officer of the Company to reflect the value of
awards forfeited by him as a result of his resignation from his
former employer.
The above information is disclosed pursuant to article 19 of the
Market Abuse Regulation.
Tony Leppard
Group Company Secretary
cosec@hastingsplc.com
Instinctif Partners
Tim Linacre / Lewis Hill
T: +44 (0) 207 457 2020
hastings@instinctif.com
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END
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