6th Sep 2019 11:49
REDDE PLC - Director Grant of OptionsREDDE PLC - Director Grant of Options
PR Newswire
London, September 6
6 September 2019
Redde plc
(“Company”)
Grant of Awards under the 2016 Performance Share Plan
On 6 September 2019, the Remuneration Committee made awards of nil-paid options over ordinary shares of 0.1 pence each in the capital of the Company under the 2016 Performance Share Plan to the following executive directors:
| Name of Director | No. of Award Shares | Structure of Award | Exercise Price |
| Martin Ward | 279,830 | Nominal Cost Option Award | 0.1 pence |
| Stephen Oakley | 188,121 | Nominal Cost Option Award | 0.1 pence |
| Mark Chessman | 211,073 | Nominal Cost Option Award | 0.1 pence |
The above awards are subject to vesting criteria relating to the achievement of an earnings per share (“EPS”) target over a three financial year performance period. These awards will normally become exercisable as nominal cost options subject to continued employment and to the extent the EPS target is achieved over the three financial year performance period.
These awards will vest in full if the Company achieves a basic adjusted EPS of 15.46 pence in the financial year ended 30 June 2022 with a straight-line reduction to NIL if EPS is below 14.25 pence.
Once vested, the awards shall ordinarily remain exercisable until the tenth anniversary of the grant of the awards. No consideration was paid for the grant of the awards but the nominal cost (option price) is due on the exercise of the awards.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Martin Ward | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Redde plc | ||||
| b) | LEI | 21380063LFNLZM7AYT28 | ||||
| 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 instrument Identification code | Options over ordinary shares of 0.1 pence each GB00BLWFOR63 | ||||
| b) | Nature of the transaction | Grant of PSP options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A | ||||
| -Aggregated volume -Price | ||||||
| e) | Date of the transaction | 6 September 2019 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Stephen Oakley | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Redde plc | ||||
| b) | LEI | 21380063LFNLZM7AYT28 | ||||
| 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 instrument Identification code | Options over ordinary shares of 0.1 pence each GB00BLWFOR63 | ||||
| b) | Nature of the transaction | Grant of PSP options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A | ||||
| -Aggregated volume -Price | ||||||
| e) | Date of the transaction | 6 September 2019 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Mark Chessman | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Redde plc | ||||
| b) | LEI | 21380063LFNLZM7AYT28 | ||||
| 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 instrument Identification code | Options over ordinary shares of 0.1 pence each GB00BLWFOR63 | ||||
| b) | Nature of the transaction | Grant of PSP options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A | ||||
| -Aggregated volume -Price | ||||||
| e) | Date of the transaction | 6 September 2019 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
For further information contact:
Redde plc 01225 321134Martin Ward, Chief Executive OfficerStephen Oakley, Chief Financial Officer
Cenkos Securities plc (Nominated Adviser and Joint Broker) 020 7397 8900Giles BallenyHarry Hargreaves
N+1 Singer Capital Markets Limited (Joint Broker) 020 7496 3000Mark Taylor
Square1 Consulting 020 7929 5599David Bick
Related Shares:
REDD.L