19th Nov 2018 14:00
RSA Insurance Group plc
("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of £1.00 each
19 November 2018
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of £1.00 each ("Shares").
On 16 November 2018 the nil cost Conditional Awards over Shares granted on 16 November 2015 under the terms of the RSA Performance Share Plan 2014 ("PSP") to the following PDMR vested as shown in the table below.
Name | No. of Performance Shares vested | No. of Dividend Equivalent Shares on Performance Shares | No. of Shares sold to cover statutory deductions | |
Martin Thompson | 13,820 | 1,180 | 8,055 |
· As disclosed in the Company's 2017 Annual Report and Accounts, Performance Shares vested at 57.7% following testing of Group underlying Return on Tangible Equity (ROTE), Relative Total Shareholder Return (TSR) and Business Review Scorecard factors.
· The Dividend Equivalent Shares are added to the award at vesting in accordance with the rules of the PSP and Directors' Remuneration Policy.
· Shares sold to cover statutory deductions were sold at a price of £5.35 per share on 16 November 2018.
· Shares retained have been transferred to the Equatex nominee account operated by RSA as part of the share plan administration system.
The forms required under the EU Market Abuse Regulation follow.
1. | Details of PDMR / Closely Associated Person ("CAP") | |||||
a) | Name | Martin Thompson | ||||
b) | Position / status | CEO, Canada | ||||
c) | Initial notification / amendment | Initial Notification | ||||
2. | Details of the issuer | |||||
a) | Name | RSA Insurance Group plc | ||||
b) | LEI | 549300HOGQ7E0TY86138 | ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Vesting of Performance Share award granted on 16 November 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
13,820
NIL | ||||
e) | Date of the transaction | 16 November 2018 | ||||
f) | Place of the transaction | XLON London Stock Exchange | ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Vesting of Dividend Equivalent Share award granted as part of the Performance Share award on 16 November 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost and added to that award at vesting. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
1,180
NIL | ||||
e) | Date of the transaction | 16 November 2018 | ||||
f) | Place of the transaction | XLON London Stock Exchange
| ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Sale of shares to cover statutory deductions on both the share awards vested on 16 November 2018 under the RSA Performance Share Plan 2014 and the corresponding Dividend Equivalent Shares. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
8,055
5.35 | ||||
e) | Date of the transaction | 16 November 2018 | ||||
f) | Place of the transaction | LSE (London SE SETS) CHIXUK (Chi-X Europe Ltd Crest) | ||||
--ENDS--
Enquiries to:
Christopher Smyth, Deputy Group Company Secretary
Tel: +44 (0)20 7111 7000
Website: www.rsagroup.com
LEI: 549300HOGQ7E0TY86138
Related Shares:
RSA.L