Watches of Switzerland Group PLC Director/PDMR Shareholding (1304P)
14 October 2021 - 11:25PM
UK Regulatory
TIDMWOSG
RNS Number : 1304P
Watches of Switzerland Group PLC
14 October 2021
14 October 2021
Watches of Switzerland Group PLC
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
The following information is given in accordance with Article
19.3 of the Market Abuse Regulation and is made on behalf of Brian
Duffy a PDMR, in the Watches of Switzerland Group PLC under article
19.1 of the Market Abuse Regulation ('MAR').
Watches of Switzerland Group PLC (the 'Company') announces that
Brian Duffy has exercised in full the option (the 'CEO Option')
that was granted to him on 31 May 2019 by Jewel Holdco S.à r.l.,
the holding company through which funds managed by an affiliate of
Apollo Global Management, Inc. formerly held shares in the
Company.
The one-off CEO Option was provided to Brian Duffy in connection
with the Company's admission to the London Stock Exchange, and the
terms of the award were agreed at that time by Jewel Holdco S.à
r.l. A summary of the agreement was included in the Company's
prospectus and subsequent summaries have been included in the
Company's Directors' Remuneration Report.
The face value of the award was GBP6.0 million which resulted in
the CEO Option over 2,222,222 shares, at the IPO price of 270p. The
vesting of the CEO Option was subject to continued service with the
Company from the date of grant to the second anniversary of IPO
(being 4 June 2021); and the CEO Option was exercisable at any time
from the grant date until the third anniversary of the grant date
(being 31 May 2022).
As a result of the exercise of the option, on 12 October 2021,
1,000,000 shares were sold today to cover the underlying tax
liability. Brian Duffy will retain the balance of the award -
namely 1,222,222 shares. Brian's holding now amounts to 7,696,999
shares or 3.21% of the Company's issued share capital.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Brian Duffy
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 Watches of Switzerland Group PLC
b) LEI 2138008ZOT5K9PJW7168
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 Ordinary Shares of GBP0.0125
of instrument ISIN: GB00BJDQQ870
Identification code
b) Nature of the transaction Exercise in full of option awarded at time of IPO and disposal
of such number of shares as
was necessary to cover the tax liability which crystallised on
exercise of the Option.
c) Price(s) and volume(s) Price Number of shares Number of shares
sold to cover retained
Tax Liability
GBP10.48 1,000,000 1,222,222
----------------- -----------------
d) Aggregated information Price Value
- Aggregated volume per share
Shares sold to GBP10.48 GBP10,480,000
- Price cover Tax Liability
----------- --------------
Shares Retained GBP10.48 GBP12,808,887
----------- --------------
e) Date of the transaction 14 October 2021
f) Place of the transaction Outside a trading venue
Contact
Allegra Perry
Director of Investor Relations and Corporate Affairs
T: 0207 317 4600
E: investor.relations@thewosgroup.com
Laura Battley
Company Secretary & General Counsel
T: 0207 317 4601
E: companysecretariat@thewosgroup.com
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END
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