RNS Number : 9895O
Reach PLC
05 December 2024
 

5 December 2024

 

Reach plc (the "Company")

 

Notification of Transactions by a Person Discharging Managerial Responsibilities ("PDMR")

 

Release of 2019 Award under the Reach Long-Term Incentive Plan 2012 ("LTIP") following two-year holding period

 

The Company announces that on 4 December 2024, 536,435 ordinary shares of 10 pence each in the Company ("shares") were released to Jim Mullen, in accordance with the terms of an award granted to him under the LTIP on 4 December 2019 which he exercised on 14 December 2022. From 4 December 2022 to 4 December 2024 the award was subject to a two-year post-vesting holding period.

 

A further 103,055 dividend equivalent shares (representing the value of dividends declared during the two-year post-vesting holding period) were also released and on 4 December 2024, 48,534 shares were sold to cover tax liabilities and sales costs in respect to the release of the dividend equivalent shares, with Mr. Mullen retaining the balance of those shares.

 

The notifications below, which have been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

 

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

 

Release of vested LTIP shares following a two-year post-vesting holding period  

c)

 

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

Nil

 

536,435


d)

 

Aggregated information




- Aggregated volume

536,435



- Price

Nil



e)

 

Date of the transaction

 

2024-12-04

f)

 

Place of the transaction

 

Outside a trading venue

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

 

Release of additional dividend equivalent shares

c)

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

Nil

 

103,055


d)

 

Aggregated information




- Aggregated volume

103,055



- Price

Nil



e)

 

Date of the transaction

 

2024-12-04

f)

 

Place of the transaction

Outside a trading venue

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

b)

 

Nature of the transaction

 

Sale of shares to cover applicable withholding tax and other deductions arising on release of the dividend equivalent shares

c)

 

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

£0.892

 

48,534


d)

 

Aggregated information

 

- Aggregate volume

 

- Price

​

 

 

48,534


£0.892

 

e)

 

Date of the transaction

 

2024-12-04

f)

 

Place of the transaction

 XLON





 

 

Enquiries


Reach

020 7293 3000

Laura Harris, Group Company Secretary


Teneo

020 7353 4200

David Allchurch/Giles Kernick 






LEI: 213800GNI5XF3XOATR61

 

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


 

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