9th Oct 2019 14:53
Director/PDMR shareholding
Stagecoach Group plc: Director/PDMR shareholding
9 October 2019
Stagecoach Group plc (the "Company") has today been notified of transactions in the holding structure by which Dame Ann Gloag (a director of the Company) holds her and her families' interests in the Company's ordinary shares of 125/228th pence each ("Ordinary Shares").
There has been no change to either (a) the aggregate number of Ordinary Shares in which Dame Ann Gloag and persons closely associated with her have an interest; (b) the number of voting rights exercisable by Dame Ann Gloag (as determined in accordance with the Disclosure Guidance and Transparency Rules); or (c) the ultimate economic interests of Dame Ann Gloag and persons closely associated with her in the Ordinary Shares as a result of the transactions.
As previously disclosed, on 5 March 2015 HGT Finance A Limited ("HGT Fin A") granted a share pledge in favour of Bank of Scotland plc in respect of 8,957,141 Ordinary Shares as continuing security for certain personal banking arrangements of Dame Ann Gloag (the "Existing Pledge").
The Existing Pledge was released on 8 October 2019 (the "Release") and, as a result, the Ordinary Shares subject to the Existing Pledge have been transferred to, and registered in the name of, HGT Fin A.
Notwithstanding the Existing Pledge, dividends and other distributions received on the Ordinary Shares subject to the Existing Pledge remained for the ultimate benefit of Dame Ann Gloag and persons closely associated with her. In addition, the voting rights attaching to such Ordinary Shares remained in the ultimate control of Dame Ann Gloag (through her shareholding in, and membership of the board of, Gloag Investments Group Limited (the ultimate parent company of HGT Fin A)) provided no default was made in relation to the relevant banking arrangements. There has, therefore, been no change to the rights to receive dividends and other distributions or exercise of the voting rights attaching to such Ordinary Shares as a result of the Release.
The table set out below shows the ultimate economic interests in Ordinary Shares of Dame Ann Gloag and persons closely associated with her as at the date of this announcement and further details in respect of the transactions are included in the notifications set out at the end of this announcement (which are made in accordance with the EU Market Abuse Regulation).
For further information, please contact:
Stagecoach Group plcwww.stagecoach.comMike Vaux, Company Secretary01783 442111
Ultimate economic interests in Ordinary Shares
| Name | Ultimate economic interests in Ordinary Shares |
| Dame Ann Gloag | 51,094,426 |
| David McCleary | 87,231 |
| The Gloag No 1 Trust | 1,080,830 |
| The Gloag No 2 Trust | 431,126 |
| The Gloag No 4 Trust | 1,739,066 |
| The Gloag No 5 Trust | 109,704 |
| The Gloag No 6 Trust | 1,058,888 |
| The Gloag No 8 Trust | 776,526 |
| The Gloag No 9 Trust | 1,080,830 |
| The Trustees of the Ann Heron Gloag Trust | 5,043,094 |
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Dame Ann Gloag | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | David McCleary (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 1 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 2 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 4 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 5 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 6 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 8 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Gloag No 9 Trust (being a person closely associated with Dame Ann Gloag) | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | The Trustees of the Ann Heron Gloag Trust | |
| 2 | Reason for the notification | ||
| a) | Position/status | Dame Ann Gloag is a Non-executive Director of the Company | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 | Ordinary shares of 125/228pISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | The release of an existing pledge in favour of Bank of Scotland plc and the resulting transfer of 8,957,141 Ordinary Shares to HGT Finance A Limited through which the person making this announcement has an interest in those Ordinary Shares. As a result of these transactions, there has been no change in the ability to exercise voting rights attaching to Ordinary Shares, or in the ultimate economic interests in Ordinary Shares, held by the person making this notification. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Ordinary Shares | N/A | 8,957,141 | |
| d) | Aggregated information — Aggregated volume — Price | N/A | |
| e) | Date of the transaction | 8 October 2019 | |
| f) | Place of the transaction | XLON | |
Related Shares:
SGC.L