NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
The Company today confirms two long term awards under the DMGT Executive Director Long-term Incentive Plan (the"ED LTIP"), to each of the executive directors below, as outlined in the Company's Remuneration Policy and 2020 Annual Report.
The awards under the ED LTIP are granted on the terms that shares will normally only be delivered at the end of a ten-year period, subject to leaver provisions and Company event provisions. The Awards will accrue over an accrual period of ten years. The accrual period for the Awards will work in such a way that the Awards will accrue annually at a rate of one-eighth in each year from the end of year three through to the end of year ten.
The first Award covers the ten year period from 1 October 2019 to 30 September 2029, with the number of shares under the award calculated by reference to a share price of £6.822 (the volume weighted average share price ('VWAP') for the twelve months up to and including the first 3 days following the release of FY 2019 results). The outcome will be delivered in A Ordinary non-voting shares upon vesting at the end of FY 2029.
The second Award covers the ten year period from 1 October 2020 to 30 September 2030, with the number of shares under the Award, calculated by reference to a share price of £7.388 (the VWAP for the twelve months up to and including the first 3 days following the release of FY 2020 results). The outcome will be delivered in A Ordinary non-voting shares upon vesting at the end of FY 2030.
The vesting outcome is subject to acceptable financial performance over each ten year period.
Apart from a further Award that is envisaged to be granted in respect of the ten year period from 1 October 2021 to 30 September 2031, no further Awards under the ED LTIP are currently envisaged to be granted to the existing Executive Directors before 1 October 2029.
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Lord Rothermere |
| 2 | Reason for the notification |
| a) | Position/status | Executive Chairman |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Daily Mail and General Trust plc |
| b) | LEI | 4OFD47D73QFJ1T1MOF29 |
| 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 Identification code | A Ordinary Non-Voting Shares of 12.5 pence each GB00BJQZC279 |
| b) | Nature of the transaction | Grant of two Awards under the rules of the DMGT Executive Director Long-term Incentive Plan. Both Awards will be satisfied in A Ordinary non-voting shares at the end of a 10 year accrual period, subject to leaver provisions and Company event provisions. |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | £0 | Award 1 - 855,273 shares Award 2 - 789,750 shares |
|
| d) | Aggregated information | - | Aggregated volume | | - | Price |
| Not applicable, single transaction. |
| e) | Date of the transaction | 31 March 2021 |
| f) | Place of the transaction | London Stock Exchange (XLON) |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Paul Zwillenberg |
| 2 | Reason for the notification |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Daily Mail and General Trust plc |
| b) | LEI | 4OFD47D73QFJ1T1MOF29 |
| 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 Identification code | A Ordinary Non-Voting Shares of 12.5 pence each GB00BJQZC279 |
| b) | Nature of the transaction | Grant of two Awards under the rules of the DMGT Executive Director Long-term Incentive Plan. Both Awards will be satisfied in A Ordinary non-voting shares at the end of a 10 year accrual period, subject to leaver provisions and Company event provisions. |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | £0 | Award 1 - 766,540 shares Award 2 - 707,815 shares |
|
| d) | Aggregated information | - | Aggregated volume | | - | Price |
| Not applicable, single transaction. |
| e) | Date of the transaction | 31 March 2021 |
| f) | Place of the transaction | London Stock Exchange (XLON) |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Tim Collier |
| 2 | Reason for the notification |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Daily Mail and General Trust plc |
| b) | LEI | 4OFD47D73QFJ1T1MOF29 |
| 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 Identification code | A Ordinary Non-Voting Shares of 12.5 pence each GB00BJQZC279 |
| b) | Nature of the transaction | Grant of two Awards under the rules of the DMGT Executive Director Long-term Incentive Plan. Both Awards will be satisfied in A Ordinary non-voting shares at the end of a ten year accrual period, subject to leaver provisions and Company event provisions. |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | £0 | Award 1 - 510,848 shares Award 2 - 471,711 shares |
|
| d) | Aggregated information | - | Aggregated volume | | - | Price |
| Not applicable, single transaction. |
| e) | Date of the transaction | 31 March 2021 |
| f) | Place of the transaction | London Stock Exchange (XLON) |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Kevin Beatty |
| 2 | Reason for the notification |
| a) | Position/status | Executive Director |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Daily Mail and General Trust plc |
| b) | LEI | 4OFD47D73QFJ1T1MOF29 |
| 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 Identification code | A Ordinary Non-Voting Shares of 12.5 pence each GB00BJQZC279 |
| b) | Nature of the transaction | Grant of two Awards under the rules of the DMGT Executive Director Long-term Incentive Plan. Both Awards will be satisfied in A Ordinary non-voting shares at the end of a 10 year accrual period subject to leaver provisions and Company event provisions. |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | £0 | Award 1 - 608,033 shares Award 2 - 561,452 shares |
|
| d) | Aggregated information | - | Aggregated volume | | - | Price |
| Not applicable, single transaction. |
| e) | Date of the transaction | 31 March 2021 |
| f) | Place of the transaction | London Stock Exchange (XLON) |
Name of officer responsible for making notification: Fran Sallas, Company Secretary DMGT, 0203 615 2904
