27th Jul 2020 12:06
Date of issue: 27 July 2020
LEI: 213800WMV4WVES8TQH05
St. Modwen Properties PLC
Notification and public disclosure of transactions by person discharging managerial responsibilities
St. Modwen Properties PLC (the "Company") announces that Rob Hudson, an executive director of the Company, undertook the following transactions in the Company's ordinary shares of 10 pence each ("Shares") on 24 July 2020.
1. Purchase of 15,896 Shares at a price of 314.54 pence per Share; and
2. Exercise of nil cost options over the Company's Shares under the St. Modwen Properties PLC 2017 Performance Share Plan ("PSP"). The award of nil cost options vested at 67.2% on 7 July 2020 following the achievement of performance conditions measured over a three-year period to 30 November 2019. In accordance with the rules of the PSP, Rob Hudson received an additional number of shares equivalent to the dividends paid between the date of grant of the PSP and the date of exercise on the number of shares which vested.
Award | Number of shares exercised including dividend equivalent | Number of shares sold to cover tax liability on exercise | Number of shares retained |
Grant of nil cost options under the PSP on 7 July 2017 | 81,737 | 38,417 | 43,320 |
The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Interim Chief Executive Officer | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of issuer | |||||
a) | Name | St. Modwen Properties PLC | ||||
b) | LEI | 213800WMV4WVES8TQH05 | ||||
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
Identification Code | Ordinary shares of £0.10 each in St. Modwen Properties PLC
GB0007291015 | ||||
b) | Nature of the transaction | Purchase of 15,896 shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2020-07-24 | ||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Interim Chief Executive Officer | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of issuer | |||||
a) | Name | St. Modwen Properties PLC | ||||
b) | LEI | 213800WMV4WVES8TQH05 | ||||
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
Identification Code | Ordinary shares of £0.10 each in St. Modwen Properties PLC
GB0007291015 | ||||
b) | Nature of the transaction | Exercise of 77,807 nil cost options granted under the St. Modwen Properties PLC 2017 Performance Share Plan on 7 July 2017 and 3,930 dividend equivalent shares. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2020-07-24 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Rob Hudson | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - Interim Chief Executive Officer | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of issuer | |||||
a) | Name | St. Modwen Properties PLC | ||||
b) | LEI | 213800WMV4WVES8TQH05 | ||||
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
Identification Code | Ordinary shares of £0.10 each in St. Modwen Properties PLC
GB0007291015 | ||||
b) | Nature of the transaction | Disposal of 38,417 shares following exercise of nil cost options under the St. Modwen Properties PLC 2017 Performance Share Plan Award granted on 7 July 2017 to cover tax liability arising on exercise. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume
- Aggregated price | N/A
| ||||
e) | Date of the transaction | 2020-07-24 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
St. Modwen Properties PLC | www.stmodwen.co.uk |
Rob Hudson, Interim Chief Executive Officer Tom Gough, Head of External Communications and Stakeholder Relations | 0121 222 9400 |
FTI Consulting | |
Dido Laurimore Ellie Sweeney | 020 3727 1000 |
Related Shares:
SMP.L