TIDMWOSG

RNS Number : 6941S

Watches of Switzerland Group PLC

15 July 2022

WATCHES OF SWITZERLAND GROUP PLC (the 'Company')

DIRECTOR/PDMR SHAREHOLDING

The Company has awarded nil cost op tions under the 2019 Long Term Incentive Plan (the 'Award').

The Performance Target for the Award consists of the following elements:

-- 80% of the Award will Vest depending on the Company's Cumulative EPS performance against targets (the "EPS Performance Award").

-- 20% of the Award will Vest depending on the Company's Average ROCE performance against targets (the "ROCE Performance Award").

The EPS Performance Award will Vest as follows

 
      Cumulative EPS             Percentage of Award Vesting 
 Less than 166.2 pence                       Nil 
                           --------------------------------------- 
 166.2 pence                                 16% 
                           --------------------------------------- 
 Between 166.2 pence and    Between 16% and 80% on a straight-line 
  183.7 pence                basis 
                           --------------------------------------- 
 183.7 pence or more                         80% 
                           --------------------------------------- 
 

The ROCE Performance Award will Vest as follows

 
      Average ROCE              Percentage of Award Vesting 
 Less than 26.4%                            Nil 
                          -------------------------------------- 
 26.4%                                      4% 
                          -------------------------------------- 
 Between 26.4% and 29.2%   Between 4% and 20% on a straight-line 
                                           basis 
                          -------------------------------------- 
 29.2% or more                              20% 
                          -------------------------------------- 
 

The Award will vest after a period of three years and there is a Holding Period of two years from the vesting date.

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').

 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                     Brian Duffy 
      ---------------------------------------  ------------------------------------------ 
       Reason for the notification 
  2 
      ----------------------------------------------------------------------------------- 
 a)    Position/status                          Chief Executive Officer 
      ---------------------------------------  ------------------------------------------ 
 b)    Initial notification                     Initial 
        /Amendment 
      ---------------------------------------  ------------------------------------------ 
       Details of the issuer, emission allowance market participant, 
  3     auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------------------- 
 a)    Name                                     Watches of Switzerland Group PLC 
      ---------------------------------------  ------------------------------------------ 
 b)    LEI                                      2138008ZOT5K9PJW7168 
      ---------------------------------------  ------------------------------------------ 
       Details of the transaction(s): section to be repeated 
  4     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                       Ordinary Shares of GBP0.0125 each 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB00BJDQQ870 
 
 b)    Nature of the transaction                An award of nil cost options shares 
                                                 granted under the Company's 2019 
                                                 Long Term incentive Plan. 
      ---------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                                -------------------  ------------------ 
                                                 Price(s)             Volume(s) 
                                                -------------------  ------------------ 
    GBP7.505                                                          133,244 
   ----------------------------------------------------------------  ------------------ 
 
 d)    Aggregated information 
 
  - Aggregated volume                      133,244 
 
  - Price                                  GBP999,996 
 
 e)    Date of the transaction                  14 July 2022 
      ---------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                 XLON 
      ---------------------------------------  ------------------------------------------ 
 

The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Bill Floydd a PDMR, in the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').

 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                     Bill Floydd 
      ---------------------------------------  ------------------------------------------- 
       Reason for the notification 
  2 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                          Chief Financial Officer 
      ---------------------------------------  ------------------------------------------- 
 b)    Initial notification                     Initial 
        /Amendment 
      ---------------------------------------  ------------------------------------------- 
       Details of the issuer, emission allowance market participant, 
  3     auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                     Watches of Switzerland Group PLC 
      ---------------------------------------  ------------------------------------------- 
 b)    LEI                                      2138008ZOT5K9PJW7168 
      ---------------------------------------  ------------------------------------------- 
       Details of the transaction(s): section to be repeated 
  4     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                       Ordinary Shares of GBP0.0125 each 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB00BJDQQ870 
 
 b)    Nature of the transaction                An award of nil cost options granted 
                                                 under the Company's 2019 Long Term 
                                                 incentive Plan. 
      ---------------------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                -------------------  ------------------- 
                                                 Price(s)             Volume(s) 
                                                -------------------  ------------------- 
    GBP7.505                                                          88,607 
   ----------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      88,607 
 
  - Price                                  GBP664,996 
 
 e)    Date of the transaction                  14 July 2022 
      ---------------------------------------  ------------------------------------------- 
 f)    Place of the transaction                 XLON 
      ---------------------------------------  ------------------------------------------- 
 

Enquiries:

Laura Battley Lucy Legh / Rob Walker / Joanna Clark

   Company Secretary and General Counsel             Headland 
   T: 0207 317 4604                                                                T: 0203 805 4822 

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END

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July 15, 2022 09:14 ET (13:14 GMT)

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