TIDMSRP
RNS Number : 7242B
Serco Group PLC
10 June 2019
10 June 2019
Serco Group plc (the "Company")
Legal Entity Identifier: 549300PT2CIHYN5GWJ21
INITIAL NOTIFICATION OF TRANSACTIONS O PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19
OF THE EU MARKET ABUSE REGULATION 596/2014
On 6 June 2019 the Company granted conditional share awards
("Performance Awards") to the following PDMRs under the Serco Group
plc 2019 Long-Term Incentive Plan:
PDMR Number of Shares subject
to the Performance Award
Rupert Soames,
Group Chief Executive 1,312,741
--------------------------
Angus Cockburn,
Group Chief Financial Officer 689,189
--------------------------
David Eveleigh,
Group General Counsel & Company
Secretary 250,965
--------------------------
Mark Irwin,
CEO AsPac 321,277
--------------------------
Kevin Craven,
CEO UK & Europe 330,810
--------------------------
Philip Malem,
CEO Middle East 242,820
--------------------------
David Dacquino,
CEO Americas 414,774
--------------------------
Anthony Kirby,
Group HR Director 239,382
--------------------------
Kate Steadman,
Group Strategy & Communications
Director 141,776
--------------------------
The Performance Awards have a normal vesting date of the third
anniversary of grant and vesting is conditional on continued
employment and the satisfaction of five independent performance
measures as follows:
Performance Weighting Performance Target
Measure
EPS 28.33% Statutory Earnings Per Share (EPS) before exceptional items
(adjusted to reflect tax paid
on a cash basis) of 19.0p (threshold, 25% vesting) to 23.2p
(maximum, 100% vesting), measured
as an aggregate over the three-year performance period ending
31 December 2021.
--------- ---------------------------------------------------------------
TSR 28.33% Total Shareholder Return (TSR) of median (threshold, 25%
vesting) to upper quartile (maximum,
100% vesting) when ranked relative to companies in the FTSE250
(excluding investment trusts),
measured over the three-year performance period ending 31
December 2021.
--------- ---------------------------------------------------------------
ROIC 28.33% Pre-tax Return on Invested Capital (ROIC) of 15.6% (threshold,
25% vesting) to 19.0% (maximum,
100% vesting), measured as an average over the three-year
performance period ending 31 December
2021.
--------- ---------------------------------------------------------------
Strategic objective - Order Book 7.50% Book-to-bill ratio of 100% (target, 50% vesting) to 105%
(maximum, 100% vesting) measured
as an average over the three-year performance period ending 31
December 2021.
--------- ---------------------------------------------------------------
Strategic objective - Employee Engagement 7.50% For the year ending 31 December 2021, achieve an engagement
score of 67 points (target, 50%
vesting) to 70 points (maximum, 100% vesting) in our annual
employee engagement survey.
--------- ---------------------------------------------------------------
The Remuneration Committee retains discretion to change
performance measures and targets, and the weightings attached to
performance measures part-way through the performance period if
there is a significant event, such as a major transaction.
For Executive Directors, any shares that vest will be subject to
a post-vesting holding requirement that takes the total term of the
award to a minimum of five years. Post-vesting clawback also
applies to the Executive Directors awards. Awards to all
participants are subject to pre-vesting malus.
Transaction notification
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rupert Soames
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status Group Chief Executive
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 1,312,741
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 1,312,741
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Angus Cockburn
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status Group Chief Financial Officer
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 689,189
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 689,189
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Eveleigh
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status Group General Counsel & Company Secretary
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 250,965
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 250,965
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Irwin
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status CEO AsPac
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 321,277
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 321,277
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kevin Craven
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status CEO UK & Europe
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 330,810
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 330,810
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Philip Malem
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status CEO Middle East
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 242,820
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 242,820
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Dacquino
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status CEO Americas
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 414,774
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 414,774
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Anthony Kirby
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status Group HR Director
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 239,382
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 239,382
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kate Steadman
--------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status Group Strategy & Communications Director
--------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name Serco Group plc
--------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
--------------------------------------- -------------------------------------------------
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 Ordinary shares of 2 pence each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB0007973794
b) Nature of the transaction The grant of conditional share awards
on 6 June 2019 under the Serco Group
plc 2019 Long-Term Incentive Plan.
--------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---------------------- ----------------------
Price(s) Volume(s)
---------------------- ----------------------
n/a 141,776
------------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume 141,776
- Price n/a
e) Date of the transaction 6 June 2019
--------------------------------------- -------------------------------------------------
f) Place of the transaction n/a
--------------------------------------- -------------------------------------------------
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END
DSHUROSRKOANAAR
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June 10, 2019 10:35 ET (14:35 GMT)
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