TIDMTSCO

RNS Number : 0765H

Tesco PLC

30 July 2021

PDMR SHAREHOLDING

30 July 2021

Tesco PLC (the "Company")

Grant and Release of an Award under Listing Rule 9.4.2

On 29 July 2021, Imran Nawaz, Chief Financial Officer, was granted a conditional award over 272,072 Ordinary Shares of 6 1/3 pence each in the Company. The award has been granted under an arrangement to which Listing Rule 9.4.2 applies in respect of the buy-out of the 2020/21 bonus which Imran forfeited on leaving his previous employment.

The number of shares awarded has been calculated using a market price of 233.21 pence per share.

The shares vested on 29 July 2021. Of the 272,072 shares released, 127,874 shares have been withheld to cover Income Tax and National Insurance Contributions due on release. The net shares have been transferred to Imran and must be retained under the Company's Shareholding Policy.

The share price on release was 233.25 pence per share.

This award was previously disclosed in the RNS announcement made on 6 May 2021 and the Directors' Remuneration Report of the Tesco PLC Annual Report and Financial Statements 2021. The Remuneration Committee believes that the award fairly reflects the bonus which Imran forfeited.

Grant of Awards under the Tesco PLC Long-Term Incentive Plan 2015 (the "LTIP")

On 29 July 2021, the members of the Company's Executive Committee listed below were granted awards over Ordinary Shares of 6 1/3 pence each in the Company under the LTIP, the number of shares being calculated using a market price of 233.21 pence per share.

 
 PDMR                 Number of Shares subject  Vesting Date 
                       to award 
 Natasha Adams                420,908           31 October 2024 
 Alessandra Bellini           491,059           31 October 2024 
 Guus Dekkers                 443,377           31 October 2024 
 Christine Heffernan          283,006           31 October 2024 
 Adrian Morris                438,446           31 October 2024 
 Ashwin Prasad                385,918           31 October 2024 
 Matt Simister                441,662           31 October 2024 
 Jason Tarry                  583,165           1 March 2024 
 Andrew Yaxley                471,677           31 October 2024 
 

The above awards have been made in the form of conditional shares which will vest on the vesting dates shown above subject to the achievement of personal performance conditions over the vesting period and continuous employment.

For any dividends paid in the period between the grant and vesting of conditional shares, the number of shares in each case will be increased to reflect the dividends that would have accrued had they been reinvested in shares.

The Notification of Dealing Forms for each PDMR can be found below. This announcement is made in accordance with the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018).

For enquiries, please contact:

Robert Welch, Company Secretary

Tesco PLC

Tesco House

Shire Park

Kestrel Way

Welwyn Garden City

Hertfordshire

AL7 1GA

Tel: 07793 222569

LEI Number: 2138002P5RNKC5W2JZ46

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                        Imran Nawaz 
 2    Reason for the notification 
 a)   Position/status                             Chief Financial Officer 
     ========================================== 
 b)   Initial notification /Amendment             Initial Notification 
     ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                        Tesco PLC 
     ========================================== 
 b)   Legal Entity Identifier                     2138002P5RNKC5W2JZ46 
     ------------------------------------------ 
 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,    Ordinary shares of 6 1/3 pence each 
      type of instrument 
 
      Identification code                          GB00BLGZ9862 
 b)   Nature of the transaction                   Grant of conditional shares under a Listing Rule 9.4.2 arrangement 
     ------------------------------------------ 
 c)   Currency                                    GBP 
     ------------------------------------------  -------------------------------------  ------------------------------ 
 d)   Price(s) and volume(s)                      Price(s)                               Volume(s) 
                                                   GBP2.3321                              272,072 
---  ------------------------------------------  -------------------------------------  ------------------------------ 
 e)   Aggregated information 
       - Aggregated Volume                          272,072 
       - Aggregated Price                           GBP2.3321 
       - Aggregated Total                           GBP634,499.11 
 f)   Date of the transaction                     2021-07-29 
     ========================================== 
 g)   Place of the transaction                    Outside a trading venue 
     ------------------------------------------  ===================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                          Imran Nawaz 
 2    Reason for the notification 
 a)   Position/status                               Chief Financial Officer 
     ============================================ 
 b)   Initial notification /Amendment               Initial Notification 
     -------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                          Tesco PLC 
     ============================================ 
 b)   Legal Entity Identifier                       2138002P5RNKC5W2JZ46 
     -------------------------------------------- 
 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,      Ordinary shares of 6 1/3 pence each 
      type of instrument 
 
      Identification code                            GB00BLGZ9862 
 b)   Nature of the transaction                     Release of shares granted under a Listing Rule 9.4.2 arrangement 
     -------------------------------------------- 
 c)   Currency                                      GBP 
     --------------------------------------------  ------------------------------------  ----------------------------- 
 d)   Price(s) and volume(s)                        Price(s)                              Volume(s) 
                                                     GBP2.3325                             272,072 
---  --------------------------------------------  ------------------------------------  ----------------------------- 
 e)   Aggregated information 
       - Aggregated Volume                            272,072 
       - Aggregated Price                             GBP2.3325 
       - Aggregated Total                             GBP634,607.94 
 f)   Date of the transaction                       2021-07-29 
     ============================================ 
 g)   Place of the transaction                      Outside a trading venue 
     --------------------------------------------  =================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                                          Natasha Adams 
 2    Reason for the notification 
 a)   Position/status                                               Chief People Officer 
     ============================================================ 
 b)   Initial notification /Amendment                               Initial Notification 
     ------------------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ============================================================================================== 
 a)   Name                                                          Tesco PLC 
     ============================================================ 
 b)   Legal Entity Identifier                                       2138002P5RNKC5W2JZ46 
     ------------------------------------------------------------ 
 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 shares of 6 1/3 
                                                                     pence each 
       Identification code 
 
                                                                     GB00BLGZ9862 
 b)   Nature of the transaction                                     Grant of conditional shares 
                                                                     under the rules of the Tesco 
                                                                     PLC Long-Term Incentive Plan 
                                                                     2015 
     ------------------------------------------------------------ 
 c)   Currency                                                      GBP 
     ------------------------------------------------------------  ----------------  -------------- 
 d)   Price(s) and volume(s)                                        Price(s)          Volume(s) 
                                                                     GBP2.3321         420,908 
---  ------------------------------------------------------------  ----------------  -------------- 
 e)   Aggregated information 
       - Aggregated volume                                            420,908 
       - Aggregated Price                                             GBP2.3321 
       - Aggregated Total                                             GBP981,599.55 
 f)   Date of the transaction                                       2021-07-29 
===  ============================================================ 
 g)   Place of the transaction                                      Outside a trading venue 
===  ------------------------------------------------------------  ================================ 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Alessandra Bellini 
 2    Reason for the notification 
 a)   Position/status                       Chief Customer Officer 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             491,059 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    491,059 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,145,198.69 
 f)   Date of the transaction               2021-07-29 
===  ==================================== 
 g)   Place of the transaction              Outside a trading venue 
===  ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Guus Dekkers 
 2    Reason for the notification 
 a)   Position/status                       Chief Technology Officer 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             443,377 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    443,377 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,033,999.50 
 f)   Date of the transaction               2021-07-29 
===  ==================================== 
 g)   Place of the transaction              Outside a trading venue 
===  ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Christine Heffernan 
 2    Reason for the notification 
 a)   Position/status                       Group Communications Director 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             283,006 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    283,006 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP659,998.29 
 f)   Date of the transaction               2021-07-29 
===  ==================================== 
 g)   Place of the transaction              Outside a trading venue 
===  ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Adrian Morris 
 2    Reason for the notification 
 a)   Position/status                       Group General Counsel 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             438,446 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    438,446 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,022,499.92 
 f)   Date of the transaction               2021-07-29 
===  ==================================== 
 g)   Place of the transaction              Outside a trading venue 
===  ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Ashwin Prasad 
 2    Reason for the notification 
 a)   Position/status                       Chief Product Officer 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             385,918 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    385,918 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP899,999.37 
 f)   Date of the transaction               2021-07-29 
     ==================================== 
 g)   Place of the transaction              Outside a trading venue 
     ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Matt Simister 
 2    Reason for the notification 
 a)   Position/status                       CEO, Central Europe 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             441,662 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    441,662 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,029,999.95 
 f)   Date of the transaction               2021-07-29 
===  ==================================== 
 g)   Place of the transaction              Outside a trading venue 
===  ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Jason Tarry 
 2    Reason for the notification 
 a)   Position/status                       CEO, UK and ROI 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             583,165 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    583,165 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,359,999.10 
 f)   Date of the transaction               2021-07-29 
     ==================================== 
 g)   Place of the transaction              Outside a trading venue 
     ------------------------------------  =========================================================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                  Andrew Yaxley 
 2    Reason for the notification 
 a)   Position/status                       CEO, Booker 
     ==================================== 
 b)   Initial notification /Amendment       Initial Notification 
     ------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ================================================================================================================= 
 a)   Name                                  Tesco PLC 
     ==================================== 
 b)   Legal Entity Identifier               2138002P5RNKC5W2JZ46 
     ------------------------------------ 
 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 6 1/3 pence each 
      instrument, type of instrument 
 
      Identification code                    GB00BLGZ9862 
 b)   Nature of the transaction             Grant of conditional shares under the rules of the Tesco PLC Long-Term 
                                            Incentive Plan 2015 
     ------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)                Price(s)                              Volume(s) 
                                             GBP2.3321                             471,677 
---  ------------------------------------  ------------------------------------  ------------------------------------- 
 e)   Aggregated information 
       - Aggregated volume                    471,677 
       - Aggregated Price                     GBP2.3321 
       - Aggregated Total                     GBP1,099,997.93 
 f)   Date of the transaction               2021-07-29 
     ==================================== 
 g)   Place of the transaction              Outside a trading venue 
     ------------------------------------  =========================================================================== 
 

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