Watches of Switzerland Group PLC Director/PDMR Shareholding (0393C)
17 February 2022 - 11:49PM
UK Regulatory
TIDMWOSG
RNS Number : 0393C
Watches of Switzerland Group PLC
17 February 2022
17 February 2022
Watches of Switzerland Group PLC
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
As previously announced, on 26 August 2021 the Company agreed,
in connection with his appointment as CFO, to compensate William
('Bill') Floydd for share awards forfeited by him (the 'Rank
Awards') on leaving his previous employer Rank Group Plc
('Rank').
On 14 February 2022 the Company awarded Bill Floydd the share
awards (the 'Awards') outlined below. The Awards are a replacement
for the Rank Awards which Bill forfeited on his leaving his
employment with Rank and in recognition of joining the Company. The
number of shares granted in relation to the Awards were determined
based on Rank and Watches of Switzerland Group PLC ('WOSG' or 'the
Company') share prices on 31 December 2021, the last business day
before Bill joined the Company.
The Awards granted are as follows:
(i) Award 1 - 3,443 ordinary shares in Watches of Switzerland
Group PLC ('WOSG Ordinary Shares'). These were granted to Bill to
compensate him for the portion of the 2017/18 LTIP award forfeited
on Bill leaving employment with Rank. As disclosed in the Rank
2020/21 Annual Report, 47,013 shares, of the 2017/18 LTIP Award
vested following the assessment of the Rank LTIP performance
conditions. The first tranche of this award, 15,671 shares vested
to Bill in October 2021 while he remained in employment with Rank
and therefore is not being replaced by WOSG.
Award 1 replaces the final two tranches of the 2017/18 LTIP.
1,721 WOSG Ordinary Shares replace tranche 2 of the 2017/18 LTIP
and will vest in October 2022 (subject to a one year holding
period). 1,722 WOSG Ordinary Shares replace tranche 3 of the
2017/18 LTIP and will vest in October 2023 (no holding period will
apply). These vesting dates and holding period are in line with the
vesting timeline of the forfeited Rank Award.
(ii) Award 2 - 35,392 WOSG Ordinary Shares granted to Bill to
compensate for a forfeited LTIP award granted by Rank under their
2020/21 LTIP. This Award is due to vest in December 2023. The
portion of the Award vesting will be determined by the Company in
line with the original Rank LTIP performance metrics applicable to
the 2020/21 LTIP Award vest, to be disclosed in the 2022/23 Rank
Group Annual Report. Any shares that vest will be subject to a
two-year holding period. The vesting date and holding period are in
line with the vesting timeline of the forfeited Rank Award.
(iii) Award 3 - 46,830 WOSG Ordinary Shares granted to Bill in
recognition of joining the Company and having the same performance
measures, targets and vesting terms as the 2021 WOSG LTIP award
granted to other members of the Company's senior management in July
2021. The Award will vest in July 2024 and will be subject to a
two-year holding period.
The following information is given in accordance with Article
19.3 of the Market Abuse Regulation:
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Bill Floydd
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 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 of Ordinary Shares of GBP0.0125
instrument ISIN: GB00BJDQQ870
Identification code
b) Nature of the transaction The grant of (i) and (ii) are replacement share awards
on the terms of the Company's Long-Term
Incentive Plan, in line with the remuneration terms
agreed on appointment and in line with
the Company's previous announcements on this subject.
These awards compensate for forfeited
Rank awards. The grant of (iii) is in recognition of
joining the Company
c) Price(s) and volume(s) CSA Volume Price (GBP)
(i) 3,443 14.20
------- ------------
(ii) 35,392 14.20
------- ------------
(iii) 46,830 14.20
------- ------------
d) Aggregated information 85,665
Aggregated volume GBP1,216,443
- Price
e) Date of the transaction 17 February 2022
f) Place of the transaction XLON
Contact
The Watches of Switzerland Group
Bill Floydd, Chief Financial Officer
+44 (0) 207 317 4600
Caroline Browne, Group Finance Director
+44 (0) 116 2817 420
investor.relations@thewosgroup.com
Laura Battley
Company Secretary & General Counsel
+44 (0) 207 317 4600
companysecretariat@thewosgroup.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBDGDDRSBDGDR
(END) Dow Jones Newswires
February 17, 2022 07:49 ET (12:49 GMT)
Watches Of Switzerland (LSE:WOSG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Watches Of Switzerland (LSE:WOSG)
Historical Stock Chart
From Apr 2023 to Apr 2024
