4th Oct 2016 14:07
Aldermore Group PLC
(the "Company")
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
The Company announces that on 3 October 2016, Rob Divall, Group HR Director, was granted an award under the Performance Share Plan ("PSP"), in the form of a nil-cost option, to acquire 87,823 ordinary shares of 10 pence each in the Company. The award was made for nil consideration.
The award is conditional on the achievement of performance targets (50% based on relative Total Shareholder Return against a comparator group, measured over the three-year period to 31 December 2018; and 50% based on Earnings Per Share for the financial year ended 31 December 2018). Subject to the performance conditions, the award will vest on 3 October 2019 and will be subject to a further two-year holding period which will expire on 3 October 2021 (when the award becomes exercisable). In addition, PSP awards may be subject to malus and clawback in exceptional circumstances in line with the PSP rules. The amount shown above represents the maximum possible opportunity subject to any additional shares awarded at vesting in lieu of dividends on shares that vest.
The price used to calculate the number of shares awarded is £2.2773, being the price used to calculate the annual awards made under the PSP on 21 March 2016.
This announcement is made in accordance with the requirements of the FCA's Disclosure Guidance and Transparency Rules Sourcebook and EU Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Rob Divall | ||||
2 | Reason for the notification | |||||
a) | Position / status | Group HR Director | ||||
b) | Initial notification / Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aldermore Group PLC | ||||
b) | LEI | N/A | ||||
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 | Nil-cost option over 87,823 Ordinary Shares of 10p each
GB00BQQMCJ47 | ||||
b) | Nature of the transaction | Grant of option under Performance Share Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 2016-10-03 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Rachel Spencer
Company Secretary
4 October 2016
Related Shares:
ALD.L