23rd Mar 2018 11:00
23 March 2018
Virgin Money Holdings (UK) PLC (the Company)
ISIN: GB00BQ8P0644
NOTIFICATION OF TRANSACTIONS BY DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
GRANTS UNDER THE DEFERRED BONUS SHARE PLAN (DBSP) AND LONG TERM INCENTIVE PLAN (LTIP)
DBSP
On 22 March 2018, the following PDMRs of the Company were each awarded a right to receive ordinary shares of 0.01p each in the capital of the Company, in accordance with the rules of the DBSP, in respect of 2017 financial year performance.
The 1st tranche vested immediately on grant with the remaining award vesting in tranches under the terms of the DBSP, from either (i) the first anniversary of grant to the fifth anniversary, or (ii) the third anniversary of grant to the seventh anniversary.
After sales for any tax liability arising on vesting, for which a separate announcement will be made in connection with the 1st tranche vesting, on or around 26 March 2018, the net shares at each vesting will be subject to a further one year holding period before any further sales or transfers can be effected.
LTIP
On 22 March 2018, the following PDMRs of the Company were each awarded conditional rights to acquire ordinary shares of 0.01p in the capital of the Company in accordance with the rules of the LTIP.
The LTIP awards will vest in equal tranches from the fourth anniversary of the date of grant to either the sixth or eighth such anniversary, subject to performance against agreed performance conditions over the period 1 January 2018 to 31 December 2020.
Once the awards have vested, the PDMRs will be required to hold the ordinary shares for a further one year period after any sales for tax arising on the vesting of the shares.
PDMR | Total DBSP Award1 | Total LTIP Award1 |
Jayne-Anne Gadhia | 237,490^ | 425,690* |
Peter Bole | 123,226^ | 261,389* |
Tim Arthur | 81,030 | 65,347 |
Hugh Chater | 73,935^ | 149,365* |
Ken Donald | 50,970 | n/a |
Matt Elliott | 58,252 | 112,023 |
Andrew Emuss | 64,973 | 119,492 |
Michele Greene | 172,703 | 85,884 |
Caroline Marsh | 56,011 | 112,023 |
Marian Martin | 62,733^ | 128,360* |
Mark Parker | 78,416 | 149,365* |
1 Calculated using the middle market quotation as derived from the Daily Official List of the London Stock
Exchange on 21 March 2018, being the day before the date of grant of the award.
^ Denotes award vesting from third anniversary of date of grant to seventh such anniversary
* Denotes award vesting from fourth anniversary of date of grant to eighth such anniversary
All transactions took place in the UK and the Shares are listed on the London Stock Exchange.
This notification is made in accordance with the Market Abuse Regulation, Article 19(3), further details below.
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Jayne-Anne Gadhia | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Chief Executive Officer | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Peter Bole | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Chief Financial Officer | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Tim Arthur | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Creative Director | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Hugh Chater | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Managing Director - Core Bank | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | |||||||||||
Name: | Ken Donald | ||||||||||
2. Reason for the notification | |||||||||||
Position/status | Corporate Development Director | ||||||||||
Initial notification/amendments | Initial notification | ||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | ||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | ||||||||||
4. Details of the transaction(s) | |||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | ||||||||||
Identification code | GB00BQ8P0644 | ||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP). | ||||||||||
Currency | GBP | ||||||||||
Price and volume |
| ||||||||||
Aggregated information | See above | ||||||||||
Date of transaction | 22 March 2018 | ||||||||||
Place of transaction | London Stock Exchange (XLON) | ||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Matt Elliott | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | People Director | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Andrew Emuss | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | General Counsel | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Michele Greene | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Managing Director - Virgin Money Digital Bank | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Caroline Marsh | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Social Enterprise Director | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Marian Martin | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Chief Risk Officer | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
1. Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||
Name: | Mark Parker | |||||||||||||
2. Reason for the notification | ||||||||||||||
Position/status | Chief Operating Officer | |||||||||||||
Initial notification/amendments | Initial notification | |||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||
Name of legal entity | Virgin Money Holdings (UK) plc | |||||||||||||
Legal Entity Identifier code | 213800TAU9ZX2WZNCO64 | |||||||||||||
4. Details of the transaction(s) | ||||||||||||||
Description of financial instrument, type of instrument | Ordinary shares of 0.01p each | |||||||||||||
Identification code | GB00BQ8P0644 | |||||||||||||
Nature of transaction | Grant of shares under the Deferred Share Bonus Plan (DBSP) and Long Term Incentive Plan (LTIP). | |||||||||||||
Currency | GBP | |||||||||||||
Price and volume |
| |||||||||||||
Aggregated information | See above | |||||||||||||
Date of transaction | 22 March 2018 | |||||||||||||
Place of transaction | London Stock Exchange (XLON) | |||||||||||||
Enquiries:
Virgin Money Investor RelationsAdam Key020 7111 1311 or [email protected]
Virgin Money Company SecretaryKatie Marshall0191 279 6482 or [email protected]
Related Shares:
Virgin Money Holdings