TIDMVANQ

RNS Number : 8771L

Vanquis Banking Group PLC

11 September 2023

Vanquis Banking Group plc ("the Company")

Director/PDMR Transaction - Initial Notification

The Company announces that it has granted the following awards on 8 September 2023 over the Company's ordinary shares of 20 8/11p ("Shares") as follows:

1. nil-cost options over 964,095 Shares for no consideration to Ian McLaughlin, who is a director/person discharging managerial responsibility ("PDMR") in the Company, under the 2020 Restricted Share Plan (the "RSP Options");

2. market value options linked to the RSP Options over 54,844 Shares for no consideration to Ian McLaughlin, who is a director and PDMR in the Company, under the 2020 Restricted Share Plan (the "CSOP Options"); and

The RSP Options and CSOP Options work on the basis that the total number of Shares over which the RSP Options and CSOP Options may be exercised cannot exceed that number of Shares as on the grant date had a market value equal to the total number of Shares covered by the RSP Option and CSOP Options less the exercise price payable under the CSOP Options.

The number of ordinary shares awarded under the RSP Options is based on the average closing share price on the London Stock Exchange between 1 September 2023 and 7 September 2023 of GBP1.0756, discounted from that price at grant to reflect the absence of dividend equivalents during the vesting period.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Ian McLaughlin 
     ---------------------------  -------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status              Chief Executive Officer 
     ---------------------------  -------------------------------------- 
 b)   Initial notification         Initial notification 
       /Amendment 
     ---------------------------  -------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                         Vanquis Banking Group plc 
     ---------------------------  -------------------------------------- 
 b)   LEI                          213800U93SZC44VXN635 
     ---------------------------  -------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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 20 8/11p 
       type of instrument 
                                     GB00B1Z4ST84 
       Identification code 
     ---------------------------  -------------------------------------- 
 b)   Nature of the transaction    Acquisition of nil-cost options and 
                                    linked share options under the 2020 
                                    Restricted Share Plan. 
     ---------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)         Price(s)     Volume(s) 
                                      GBP0         964,095 
                                                  ---------- 
                                      GBP1.0940    54,844 
                                                  ---------- 
     ---------------------------  -------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume           1,018,939 
 
       - Price                       GBP59,999.34 
     ---------------------------  -------------------------------------- 
 e)   Date of the transaction      8 September 2023 
     ---------------------------  -------------------------------------- 
 f)   Place of the transaction     Outside a trading venue 
     ---------------------------  --------------------------------------

Name of authorised official of issuer responsible for making notification:

David Whincup, Deputy Company Secretary

Date of Notification :

11 September 2023

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END

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September 11, 2023 06:30 ET (10:30 GMT)

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