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McCarthy & Stone PLC - Director/PDMR Shareholding

RNS Number : 3263C
McCarthy & Stone PLC
07 February 2020
 

7 February 2020

 

 

McCarthy & Stone plc (the "Company")

 

Notification of Transactions by

Persons Discharging Managerial Responsibilities

 

Pursuant to the notification obligations under article 19.3 of the Market Abuse Regulation, the Company announces the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the ordinary shares of 8 pence nominal value in the Company ("Shares"). 

 

McCarthy & Stone plc Long Term Incentive Plan

 

On 5 February 2020, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as set out below.

 

The awards were made as nil-cost options and are subject to the rules of the LTIP and will vest depending on performance against Earnings per Share ("EPS") and Return on Capital Employed ("ROCE") targets as measured over a three-year performance period.

 

The performance conditions and targets for this LTIP grant are:

 

•             FY22 ROCE - Threshold: 14%, Maximum: 20%;

•             FY22 EPS - Threshold:  12.p, Maximum: 17.5p.

 

The normal date of vesting for these nil-cost options will be 5 February 2023 and the last date for exercise will be 5 February 2030, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP. With the exception of Adam Batty's award, these awards are subject to a two year holding period.

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Tonkiss

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00.


495,892

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

495,892


£0.00

e)

Date of the transaction

2020-02-05

f)

Place of the transaction

Outside a trading venue

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Rowan Baker

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

 339,353

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

339,353


£0.00

e)

Date of the transaction

2020-02-05

f)

Place of the transaction

Outside a trading venue

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nigel Turner

2

Reason for the notification

a)

Position/status

Chief Operating Officer - Build

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

 391,499

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

391,499


£0.00

e)

Date of the transaction

2020-02-05

f)

Place of the transaction

Outside a trading venue

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mike Lloyd

2

Reason for the notification

a)

Position/status

Chief Operating Officer - Customers & Services

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

 391,499

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

391,499


£0.00

e)

Date of the transaction

2020-02-05

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adam Batty

2

Reason for the notification

a)

Position/status

Group General Counsel and Company Secretary

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00.

 156,165

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

156,165


£0.00

e)

Date of the transaction

2020-02-05

f)

Place of the transaction

Outside a trading venue

 

 

 

Long Term Incentive Plan (LTIP) - Lapse of 2016 Awards

 

The Company further confirms that none of the performance conditions associated with awards made under the LTIP on 21 December 2016 and 27 January 2017 reached threshold performance conditions for vesting and hence all awards under the 2016 LTIP lapsed on their third anniversary on 21 December 2019 and 27 January 2020 respectively.

Details of the number of awards that have lapsed for the following Executive Directors are set out below.

 Name

Position

Number of 2015 LTIP awards lapsed

 

John Tonkiss 

Chief Executive Officer

              292,208

 

Rowan Baker

Chief Financial Officer

              146,104

 

 

 

 

 

For further information, please contact:

 

Scott Brooker

Deputy Group Company Secretary

Telephone: 07976 670155

 

 

-- Ends --


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END
 
 
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Quick facts: McCarthy & Stone PLC

Price: 60.3

Market: LSE
Market Cap: £324.04 m
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