Vectura Group plc Director/PDMR Shareholding (4249G)
27 May 2017 - 12:13AM
UK Regulatory
TIDMVEC
RNS Number : 4249G
Vectura Group plc
26 May 2017
VECTURA GROUP PLC
DIRECTOR/PDMR SHARE DEALING
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them (in accordance with the Market Abuse
Regulations)
Chippenham, UK, 26 May 2017: Vectura Group plc (LSE: VEC;
"Vectura" or "the Company") confirms that on 25 May 2017, the
following Persons Discharging Managerial responsibility ("PDMRs")
were granted Share Awards over ordinary shares of 0.025 pence each
in Vectura Group plc under the Vectura 2015 Long Term Incentive
Plan, as set out below:
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------------------
a) Name Andrew Derodra
--- ------------------------------- ------------------------------------
2 Reason for Notification
--- ---------------------------------------------------------------------
a) Position/status Chief Financial Officer
--- ------------------------------- ------------------------------------
b) Initial notification/Amendment Initial Announcement
--- ------------------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------
a) Name Vectura Group plc
--- ------------------------------- ------------------------------------
b) LEI
--- ------------------------------- ------------------------------------
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 Ordinary Shares of 0.025 pence
the financial instrument, each in Vectura Group plc
type of instrument GB00B01D1K48
Identification
code
--- ------------------------------- ------------------------------------
b) Nature of the transaction Grant of an award under the
Company's Long Term Incentive
Plan as a nil exercise price
option. Vesting is subject
to (i) performance over 3
financial years commencing
with the year of grant and
(ii) continued service and
is normally 3 years after
grant. Half of the award will
vest based on relative total
shareholder return (share
price growth assuming reinvested
dividends) ranking against
FTSE250 constituents (excluding
financial services and real
estate sector companies),
15% vesting at median and
100% at upper quartile. The
other half will vest by reference
to achievement of cumulative
adjusted Earnings Before Interest
Tax Depreciation and Amortisation
("EBITDA") targets, 15% vesting
at threshold and 100% for
achieving stretching performance.
At the present time the EBITDA
targets are commercially sensitive
but will be published shortly
after we have updated the
market with clarity on the
regulatory status of VR315
following the dialogue of
ourselves and our partners,
Hikma, with the FDA.
--- ------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 537,566
---------- ----------
--- ------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
--- ------------------------------- ------------------------------------
e) Date of the transaction 25 May 2017
--- ------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- ------------------------------------
Enquiries:
John Murphy, Company Secretary Tel: + 44 (0)207 881 0524
This information is provided by RNS
The company news service from the London Stock Exchange
END
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