8th Feb 2019 16:38
8 February 2019
LEI No. 213800QIPVTK5ES5UU36
SCAPA GROUP PLC
('the Company')
Director/PDMR Shareholding
Notification and public disclosure of transactions by person discharging managerial responsibilities ('PDMR')
Scapa Group plc (AIM: SCPA) announces that Mr Heejae Richard Chae, Chief Executive Officer, has exercised options over 192,683 ordinary 5p shares in the capital of the Company ("Ordinary Shares"), under the Scapa Group plc 2011 Performance Share Plans ("PSP").
In accordance with the rules of the PSP, no consideration was paid by Mr Chae for the option exercised by him. The option is subject to, and governed by, the rules of the PSP and the legislation relating to the PSP. Immediately following the exercise of this option, Mr Chae sold 192,683 shares at a price of 344.2p per share.
In addition, Mr Chae has sold 75,179 shares from his current shareholding at a price of 327.6p per share.
The sale of shares was primarily to satisfy a US tax liability.
Mr Chae's beneficial holding in the Company following the exercise and sale is as follows:-
Director | No. of Ordinary Shares held prior to Exercise | No. of Ordinary Shares Exercised | No. of Ordinary Shares held following Exercise | No. of Ordinary Shares Sold | No. of Ordinary Shares held following Exercise and Sale | Percentage of Issued Share Capital following Exercise and Sale |
Heejae Richard Chae | 1,130,394 | 192,683 | 1,323,077 | 267,862 | 1,055,215 | 0.68% |
In addition, Mr Chae also currently has a beneficial interest in respect of 1,645,766 (1.06%) ordinary shares, under the Scapa Group plc 2015 Value Creation Plan. These shares have vested but will not be released until March 2020 and continue to be subject to the Plan rules.
The notifications set out in the Annexes below, which were made in accordance with the requirements of Article 19 of the Market Abuse Regulation, provide further details of such exercise and sales.
ANNEX
1 | Details of the person discharging managerial responsibilities / person closely associated
| |
a) | Name | Heejae Richard Chae
|
2 | Reason for the notification
| |
a) | Position / status | Group Chief Executive
|
b) | Initial notification / amendment | Initial notification
|
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a) | Name | Scapa Group plc
|
b) | LEI
| 213800QIPVTK5ES5UU36 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
| |
a) | Description of financial instrument, type of instrument | Ordinary Shares of 5p each |
| Identification Code
| GB0007281198 |
b) | Nature of the transactions | Exercise of share option and sale of shares
|
c) | Price(s) and volume(s)
| Exercise of share option: 192,683 shares for nil consideration Sale of 192,683 shares at 344.2p per share |
d) | Aggregated information - Aggregated volume - Price |
192,683 344.2p per share
|
e) | Date of the transactions
| 7 February 2019 |
f) | Place of the transactions
| London Stock Exchange, AIM |
ANNEX
1 | Details of the person discharging managerial responsibilities / person closely associated
| |
a) | Name | Heejae Richard Chae
|
2 | Reason for the notification
| |
a) | Position / status | Group Chief Executive
|
b) | Initial notification / amendment | Initial notification
|
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a) | Name | Scapa Group plc
|
b) | LEI
| 213800QIPVTK5ES5UU36 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
| |
a) | Description of financial instrument, type of instrument | Ordinary Shares of 5p each |
| Identification Code
| GB0007281198
|
b) | Nature of the transactions | Sale of shares
|
c) | Price(s) and volume(s)
| Sale of 75,179 shares at 327.6p per share |
d) | Aggregated information - Aggregated volume - Price |
75,179 327.6p per share
|
e) | Date of the transactions
| 8 February 2019 |
f) | Place of the transactions
| London Stock Exchange, AIM |
For further information:
Scapa Group plc:
Wendy Baker +44 (0) 161 301 7400
Company Secretary
Numis Securities Limited: +44 (0) 20 7260 1000
Mark Lander/ Richard Thomas
(Joint Broker/Nominated Adviser)
Related Shares:
SCPA.L