TIDMVM.
RNS Number : 7974Z
Virgin Money Holdings (UK) PLC
17 March 2017
17 March 2017
Virgin Money Holdings (UK) PLC (the Company)
ISIN: GB00BQ8P0644
NOTIFICATION OF TRANSACTIONS BY DIRECTORS, PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
VESTINGS UNDER THE PHANTOM INCENTIVE PLAN (PIP) AND DEFERRED
BONUS SHARE PLAN (DBSP)
On 15 March 2017, vestings to certain PDMRs of the Company took
place under (i) the PIP that was awarded for the full years of 2012
and 2013 (PIP FY12 and PIP FY13), (ii) the DBSP for the full year
of 2015 (DBSP FY15) and (iii) the 1(st) tranche of the DBSP for the
full year of 2016 (DBSP FY16), for which the award grants were
announced on 15 March 2017. The net shares are subject to a
six-month hold period before any further sales or transfers can be
effected.
Following receipt of notification on 16 March, details of the
shares that vested and the portions sold to cover tax are included
in the detailed disclosures below.
VESTINGS UNDER THE DEFERRED BONUS SHARE PLAN (DBSP) AND LONG
TERM INCENTIVE PLAN (LTIP) AND RECRUITMENT AWARDs
On 15 March 2017, vestings took place under the DBSP and LTIP in
respect of awards made to Hugh Chater (a PDMR of the Company) under
the terms of his appointment by the Company to compensate for
forfeited awards from previous employment. The net shares are
subject to a further six-month hold period before any further sales
or transfers can be effected.
Following receipt of notification on 16 March, details of the
shares that vested and the portions sold to cover tax are included
in the detailed disclosures below in respect of Hugh Chater.
All transactions took place in the UK and the Shares are listed
on the London Stock Exchange.
This notification is made in accordance with the Market Abuse
Regulation, Article 19(3), further details below.
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Jayne-Anne Gadhia
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status Chief Executive Officer
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY12 242,580 114,414
---------- -------- --------------
PIP FY13 101,710 47,972
---------- -------- --------------
DBSP
FY15 17,655 8,328
---------- -------- --------------
DBSP
FY16 97,829 46,142
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---------------------------------------------------------------------------
Name: Peter Bole
-------------------------------- -----------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
Position/status Chief Financial Officer
-------------------------------- -----------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -----------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -----------------------------------------
4. Details of the transaction(s)
---------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- ---------------------------------------
Identification code GB00BQ8P0644
---------------------------------- ---------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP).
---------------------------------- ---------------------------------------
Currency GBP
---------------------------------- ---------------------------------------
Price and volume Vestings
----------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
-------- -------- --------------
DBSP
FY16 6,848 3,231
-------- -------- --------------
---------------------------------- ---------------------------------------
Aggregated information See above
---------------------------------- ---------------------------------------
Date of transaction 15 March 2017
---------------------------------- ---------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- ---------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---------------------------------------------------------------------------
Name: Tim Arthur
-------------------------------- -----------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
Position/status Creative Director
-------------------------------- -----------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -----------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -----------------------------------------
4. Details of the transaction(s)
---------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- ---------------------------------------
Identification code GB00BQ8P0644
---------------------------------- ---------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP).
---------------------------------- ---------------------------------------
Currency GBP
---------------------------------- ---------------------------------------
Price and volume Vestings
----------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
-------- -------- --------------
DBSP
FY16 3,619 1,712
-------- -------- --------------
---------------------------------- ---------------------------------------
Aggregated information See above
---------------------------------- ---------------------------------------
Date of transaction 15 March 2017
---------------------------------- ---------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- ---------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---------------------------------------------------------------------------
Name: Hugh Chater
-------------------------------- -----------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
Position/status Chief Commercial Officer
-------------------------------- -----------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -----------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -----------------------------------------
4. Details of the transaction(s)
---------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- ---------------------------------------
Identification code GB00BQ8P0644
---------------------------------- ---------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Long Term
Incentive Plan (LTIP),
Deferred Bonus Share Plan
(DBSP).
---------------------------------- ---------------------------------------
Currency GBP
---------------------------------- ---------------------------------------
Price and volume Vestings
----------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
-------- -------- --------------
DBSP
FY16 16,630 7,844
-------- -------- --------------
DBSP 15,986 7,541
-------- -------- --------------
LTIP 19,427 9,164
-------- -------- --------------
---------------------------------- ---------------------------------------
Aggregated information See above
---------------------------------- ---------------------------------------
Date of transaction 15 March 2017
---------------------------------- ---------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- ---------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Matt Elliott
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status People Director
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY12 33,960 16,018
---------- -------- --------------
PIP FY13 16,820 7,934
---------- -------- --------------
DBSP
FY15 4,516 2,134
---------- -------- --------------
DBSP
FY16 23,479 11,075
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---------------------------------------------------------------------------
Name: Andrew Emuss
-------------------------------- -----------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
Position/status General Counsel
-------------------------------- -----------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -----------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -----------------------------------------
4. Details of the transaction(s)
---------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- ---------------------------------------
Identification code GB00BQ8P0644
---------------------------------- ---------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP).
---------------------------------- ---------------------------------------
Currency GBP
---------------------------------- ---------------------------------------
Price and volume Vestings
----------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
-------- -------- --------------
DBSP
FY15 5,165 2,439
-------- -------- --------------
DBSP
FY16 26,413 12,459
-------- -------- --------------
---------------------------------- ---------------------------------------
Aggregated information See above
---------------------------------- ---------------------------------------
Date of transaction 15 March 2017
---------------------------------- ---------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- ---------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Michele Greene
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status Director of Strategic Developments
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY13 66,860 31,535
---------- -------- --------------
DBSP
FY15 6,092 2,874
---------- -------- --------------
DBSP
FY16 29,348 13,843
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Caroline Marsh
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status Director of Culture
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY12 32,990 15,561
---------- -------- --------------
PIP FY13 16,820 7,934
---------- -------- --------------
DBSP
FY15 3,788 1,791
---------- -------- --------------
DBSP
FY16 22,500 10,613
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Marian Martin
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status Chief Risk Officer
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY12 84,090 39,662
---------- -------- --------------
PIP FY13 37,840 17,848
---------- -------- --------------
DBSP
FY15 7,218 3,405
---------- -------- --------------
DBSP
FY16 36,686 17,304
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-----------------------------------------------------------------------------
Name: Mark Parker
-------------------------------- -------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
Position/status Chief Operating Officer
-------------------------------- -------------------------------------------
Initial notification/amendments Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------
Name of legal Virgin Money Holdings (UK)
entity plc
-------------------------------- -------------------------------------------
Legal Entity 213800TAU9ZX2WZNCO64
Identifier code
-------------------------------- -------------------------------------------
4. Details of the transaction(s)
-----------------------------------------------------------------------------
Description of financial Ordinary shares of 0.01p
instrument, type each
of instrument
---------------------------------- -----------------------------------------
Identification code GB00BQ8P0644
---------------------------------- -----------------------------------------
Nature of transaction Receipt of shares and
subsequent sale of shares
to cover tax liabilities
on vesting of share awards
made under the Deferred
Bonus Share Plan (DBSP)
and Phantom Incentive
Plan (PIP).
---------------------------------- -----------------------------------------
Currency GBP
---------------------------------- -----------------------------------------
Price and volume Vestings
------------------------------------
Scheme Shares Shares sold
Vested to cover
tax purposes
at GBP3.31
per share
---------- -------- --------------
PIP FY12 89,660 42,289
---------- -------- --------------
PIP FY13 37,840 17,848
---------- -------- --------------
DBSP
FY15 3,099 1,468
---------- -------- --------------
DBSP
FY16 26,903 12,690
---------- -------- --------------
---------------------------------- -----------------------------------------
Aggregated information See above
---------------------------------- -----------------------------------------
Date of transaction 15 March 2017
---------------------------------- -----------------------------------------
Place of transaction London Stock Exchange
(XLON)
---------------------------------- -----------------------------------------
Enquiries:
Virgin Money Investor Relations
Adam Key
020 7111 1311 or adam.key@virginmoney.com
Virgin Money Company Secretary
Katie Marshall
0191 279 6482 or katie.marshall@virginmoney.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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March 17, 2017 06:00 ET (10:00 GMT)
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