31st Mar 2015 18:25
31 March 2015
Virgin Money Holdings (UK) PLC (the Company)
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRs)
In accordance with DTR 3.1.4R(1)(a), the Company gives notice of the following changes in the share interests of the PDMRs of the Company, further to the announcement made on 27 March 2015 in relation to the grant of share awards to PDMRs on 26 March 2015.
Deferred Bonus Share Plan (DBSP)
On the 26 March 2015 the following PDMRs were each awarded a right to receive ordinary shares of £0.0001 each in the capital of the Company in accordance with the rules of the DBSP in respect of the 2014 financial year performance. These awards vest in three equal tranches, with the first tranche immediately vesting on date of grant.
On 31 March 2015, the Company was advised by RBC cees Trustee Limited, as Trustee of the Virgin Money Employee Benefit Trust (the EBT), that sufficient shares were sold on behalf of the PDMRs, inter alia, to satisfy the tax liabilities arising on the portion of the awards which vested on the date of grant, 26 March 2015. The sale of these shares was undertaken at 394.029 pence per share:
PDMR | No. of vested shares on date of grant, 26 March 2015 | No. of vested shares sold to cover tax liability | Net No. of shares acquired1 |
*Jayne-Anne Gadhia | 73,857 | 35,663 | 38,194 |
*Lee Rochford | 41,638 | 20,106 | 21,532 |
Dave Dyer | 35,574 | 17,178 | 18,396 |
Matt Elliott | 28,239 | 13,636 | 14,603 |
Andrew Emuss | 21,528 | 10,395 | 11,133 |
Michele Greene | 36,564 | 17,656 | 18,908 |
Caroline Marsh | 28,239 | 13,636 | 14,603 |
Marian Watson | 25,623 | 12,373 | 13,250 |
1 These shares are subject to a six month holding period before they can be sold or transferred by the PDMRs.
*Denotes Director of the Company
As a result of the above, the interests in shares (excluding unvested awards) of the following Directors is as follows:
Jayne-Anne Gadhia 2,207,041
Lee Rochford 151,439
In addition, on 31 March 2015, the Company was advised by the EBT that it has sold sufficient shares on behalf of Richard Hemsley, a PDMR of the Company, inter alia, to satisfy the tax liabilities arising on awards granted by the Company under the terms of the Deferred Bonus Share Plan andLong Term Incentive Plan (LTIP). The sale of these shares is in relation to the portion of the award which vested on the date of grant, 26 March 2015, and was undertaken at 394.029 pence per share.
Share Plan | No. of vested shares on date of grant 26 March 2015 | Shares sold to cover tax liability | Net vested shares subject to holding period released1 |
Deferred Bonus Share Plan | 14,975 | 6,134 | 8,841 |
Long-Term Incentive Plan | 83,731 | 34,297 | 49,434 |
1 These shares are subject to a six month holding period before they can be sold or transferred by the PDMRs.
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