28th Sep 2015 15:00
28 September 2015
Virgin Money Holdings (UK) PLC (the Company)
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
This notification is made in accordance with DTR3.1.4R (1) (a).
The structure of the Company's Remuneration Policy is set out in detail in the Directors' Remuneration Report on pages 120 to 130 of the annual report and accounts for the financial year ended 31 December 2014 (the "Annual Report & Accounts") which was published on 5 March 2015 and can be found on the Investor Relations part of the Company's website www.virginmoney.com.
Deferred Bonus Share Plan ("DBSP")
On 26 September 2015, the second tranche of an award previously made to Richard Hemsley under the DBSP, vested as set out in the table below. Details of the award were announced on 27 March 2015.
Following the vesting of these shares the Company was advised on 28 September 2015 by RBC cees Trustee Limited, as Trustee of the Virgin Money Employee Benefit Trust, that sufficient ordinary shares of £0.0001 each in the capital of the Company were sold on behalf of Richard Hemsley, inter alia, to satisfy the tax liabilities arising on vesting of the shares and that the net balance of shares have been transferred to him. The net shares at vesting are subject to a further six-month holding period before they can be sold or transferred.
The sale of these shares was undertaken at 387.5 pence per share:
PDMR | No. of vested shares on 26 September 2015 | No. of vested shares sold to cover tax liability | Net No. of shares transferred |
Richard Hemsley | 15,953 | 7,514 | 8,439 |
The transaction took place in the UK and the Shares are listed on the London Stock Exchange.
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