Chesnara PLC Director/PDMR Shareholding (4559X)
April 30 2019 - 1:01AM
UK Regulatory
TIDMCSN
RNS Number : 4559X
Chesnara PLC
30 April 2019
Chesnara plc
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility ('PDMRs')
Chesnara plc (the 'Company') today announces that, on 29 April
2019, John Deane and David Rimmington (each a PDMR) were granted
awards of options over the ordinary shares of the Company under the
Chesnara plc Long Term and Short Term Schemes. These awards were
made in accordance with the Directors' Remuneration Policy.
The notifications for each PDMR below, which are being made in
accordance with the requirements of the EU Market Abuse
Regulations, provide further detail of the awards granted to each
PDMR.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Natural person: John Deane
b) Legal person
------------------------------- ----------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------
a) Position/status: Chief Executive Officer
------------------------------- ----------------------------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ----------------------------------------------------------
3 Details of the Issuer
-------------------------------------------------------------------------------------------
a) Name Chesnara plc
------------------------------- ----------------------------------------------------------
b) Legal Entity Identifier: 213800VFRMBRTSZ3SJ06
------------------------------- ----------------------------------------------------------
4 Details of the transaction(s): Parts a-d of this section
are 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 Chesnara plc Ordinary Shares of
financial instrument, 5 pence each
type of instrument (GB00B00FPT80)
(Identification code)
------------------------------- ----------------------------------------------------------
b) Nature of the transaction GRANT 1
Granted under the Chesnara 2014
Short-term Incentive Scheme. The
award is not subject to a performance
target.
The options will become exercisable
on 28 April 2022 and remain exercisable
up to and including 27 April 2029.
GRANT 2
Granted under the Chesnara 2014
Long-term Incentive Scheme. The
award is subject to a performance
target over a period of three financial
years.
Subject to the achievement of the
performance target, the options
will become exercisable on 28 April
2022 and remain exercisable up
to and including 27 April 2029.
------------------------------- ----------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------- ------------- -------------------------------------------
Nil GRANT 1
13,323 options over ordinary
shares of 5p each
------------------------------- ------------- -------------------------------------------
Nil GRANT 2
125,180 options over ordinary
shares of 5p each
------------------------------- ------------- -------------------------------------------
d) Aggregated information
- Aggregated volume * 138,503 options over ordinary shares of 5p each
- Price
* Nil
------------------------------- ----------------------------------------------------------
e) Date of the transaction 2019-04-29
(YYYY - MM - DD)
------------------------------- ----------------------------------------------------------
f) Place of the transaction XOFF
------------------------------- ----------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Natural person: David Rimmington
b) Legal person
------------------------------- ---------------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------
a) Position/status: Chief Finance Officer
------------------------------- ---------------------------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ---------------------------------------------------------
3 Details of the Issuer
------------------------------------------------------------------------------------------
a) Name Chesnara plc
------------------------------- ---------------------------------------------------------
b) Legal Entity Identifier: 213800VFRMBRTSZ3SJ06
------------------------------- ---------------------------------------------------------
4 Details of the transaction(s): Parts a-d of this section
are 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 Chesnara plc Ordinary Shares of
financial instrument, 5 pence each
type of instrument (GB00B00FPT80)
(Identification code)
------------------------------- ---------------------------------------------------------
b) Nature of the transaction GRANT 1
Granted under the Chesnara 2014
Short-term Incentive Scheme. The
award is not subject to a performance
target.
The options will become exercisable
on 28 April 2022 and remain exercisable
up to and including 27 April 2029.
GRANT 2
Granted under the Chesnara 2014
Long-term Incentive Scheme. The
award is subject to a performance
target over a period of three financial
years.
Subject to the achievement of the
performance target, the options
will become exercisable on 28 April
2022 and remain exercisable up
to and including 27 April 2029.
------------------------------- ---------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------- ------------- ------------------------------------------
Nil GRANT 1
7,760 options over ordinary
shares of 5p each
------------------------------- ------------- ------------------------------------------
Nil GRANT 2
71,070 options over ordinary
shares of 5p each
------------------------------- ------------- ------------------------------------------
d) Aggregated information
- Aggregated volume * 78,830 options over ordinary shares of 5p each
- Price
* Nil
------------------------------- ---------------------------------------------------------
e) Date of the transaction 2019-04-29
(YYYY - MM - DD)
------------------------------- ---------------------------------------------------------
f) Place of the transaction XOFF
------------------------------- ---------------------------------------------------------
Name of authorised official of issuer responsible for making
notification
Al Lonie
Date of notification 30 April 2019
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock
Exchange in May 2004, is the owner of Countrywide Assured plc ('CA
plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara
Holdings BV. Chesnara Holdings BV is the intermediate holding
company of 'Waard Group' and 'Scildon'.
CA plc is a UK life assurance subsidiary that is closed to new
business. In June 2005 Chesnara acquired a further closed life
insurance company - City of Westminster Assurance - for GBP47.8m.
With effect from 30 June 2006, CWA's policies and assets were
transferred into CA plc. Save & Prosper Insurance Limited and
its subsidiary, Save & Prosper Pensions Limited, were acquired
on 20 December 2010 for GBP63.5 million. With effect from 31
December 2011, the business of Save & Prosper was transferred
into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life
Insurance Company Limited (subsequently renamed Protection Life
Company Limited) from Direct Line Group plc for GBP39.3m. On 31
December 2014 the PL business transferred into CA plc. CA plc
operates an outsourced business model.
Movestic, a Swedish life assurance company which originally
focused on pensions and savings, was acquired on 23 July 2009 for
GBP20 million. The company is open to new business and seeks to
grow its position in the Swedish unit-linked market. Its
proposition was strengthened in February 2010 with the acquisition
of the operations of Aspis Försäkringar Liv AB which has a risk and
health product bias.
The Waard Group, a Netherlands-based Group comprising two closed
book insurance companies (life and income protection) and a
servicing company, was acquired on 19 May 2015 for EUR69.9m from
DSB Beheer B.V., a Dutch financial services Group. The group
comprises Waard Leven N.V., Waard Schade N.V. and Waard
Verzekeringen B.V. The portfolio of the Waard Group is
predominantly term life policies with some unit linked and income
protection policies. On 5 April 2017 Chesnara completed its
acquisition of Legal & General Nederland Levensverzeikering
Maatschappij N.V. ('LGN') for EUR161.2 million. The business was
renamed Scildon, is in the Dutch life assurance market and, as with
our Swedish subsidiary Movestic, it writes protection and pension
new business.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHPGUCWCUPBGAB
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