19th Oct 2018 14:00
WILLIAM HILL PLC
19 October 2018
Ruth Prior: Vesting of Replacement Awards
On 2 October 2017, the Company announced that Ruth Prior, Chief Financial Officer and a Director of William Hill PLC, had been awarded 348,345 restricted shares. This was in respect of a replacement award granted to Ruth on her appointment as Chief Financial Officer which reflects the value of share based incentives forfeited at Worldpay Group plc ("Worldpay"), the company she left to join William Hill ("the Replacement Awards"). As announced on 2 October 2017, the Replacement Awards did not have any associated performance conditions or post-vesting holding requirements, mirroring the Worldpay award it replaced.
The Replacement Awards vested on 16 October 2018. In accordance with the terms of the Replacement Awards, Ruth is also entitled to receive, either in cash or shares (at the determination of the Remuneration Committee of William Hill PLC) dividends that would have been paid in respect of the restricted shares between the date of award and the date of vesting ("Award Dividends"). Accordingly, Award Dividends in respect of 15,050 ordinary shares has also been awarded on 16 October 2018.
Income tax and employee national insurance contributions are payable by Ruth Prior upon vesting of the Replacement Award and associated Award Dividends and sufficient ordinary shares have been sold to meet this. Under the Remuneration Committee's share ownership guidelines, the Chief Financial Officer is required to build up a shareholding in the Company equivalent to 150% of salary. The net shareholding acquired on vesting of 192,257 ordinary shares has been retained by Ruth towards the requirements of the share ownership guidelines.
As a result of this transaction, and previous transactions previously notified, Ruth Prior and her persons closely associated now have an interest in 267,327 ordinary shares, equivalent to less than 0.1% of the issued share capital of the Company.
The following information is given in accordance with Article 19.3 of the Market Abuse Regulation:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a)
| Name
| Ruth Prior
| |
2
| Reason for the notification
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a)
| Position/status
| Chief Financial Officer (Director and PDMR) | |
b)
| Initial notification /Amendment
| Initial notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
a)
| Name
| William Hill PLC | |
b)
| LEI
| 213800MDW41W5UZQIX82 | |
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 | Ordinary shares of 10 pence each
| |
Identification code | ISIN: GB0031698896 | ||
SEDOL: 3169889 | |||
b)
| Nature of the transaction
| Vesting of ordinary shares in respect of Replacement Award
| |
c)
| Price(s) and volume(s) | Price(s): £2.32 per share
Volume(s): 192,257 ordinary shares
| |
d)
| Aggregated information | ||
- Aggregated volume | 192,257 ordinary shares
| ||
- Price | £2.32 per ordinary share
| ||
e)
| Date of the transaction
| 17 October 2018 | |
f)
| Place of the transaction
| London, UK | |
OAM: Additional Regulated Information William Hill LEI: 213800MDW41W5UZQIX82
Luke Thomas Company Secretary William Hill PLC
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Related Shares:
WMH.L