TIDMDX.
RNS Number : 3430P
DX (Group) PLC
25 May 2018
25 May 2018
AIM: DX
DX (Group) plc
("DX", or the "Company")
Grant of share awards and PDMR notification
DX, the provider of delivery solutions, including parcel
freight, secure, courier and logistics services, announces the
details of amendments to the grants of conditional nominal cost
share awards over ordinary shares of 1 penny each in DX ("Ordinary
Shares") (the "Awards"), following the completion of the
Fundraising and the Cancellation of the Loan Notes (the
"Transaction"), and shareholder approval at the General Meeting
held on 22 May 2018.
On 21 December 2017, the Recovery Awards and the Restricted
Share Awards were granted on the terms summarised for Shareholders
in the appendix to the notice of meeting for the Company's General
Meeting on 15 December 2017.
The Transaction has had the following impact on the Recovery
Awards and Restricted Share Awards:
-- the absolute number of Ordinary Shares subject to the
Recovery Awards and Restricted Share Awards was increased to
maintain the participants' relative percentage of the revised total
Issued Share Capital (by reference to the percentage of the
Existing Issued Share Capital which the Recovery Award Shares
represented when they were granted on 21 December 2017); and
-- the share price performance targets for the Recovery Awards
were amended so that the target for the maximum vesting is changed
from 50.0 pence per Ordinary Share to 40.0 pence per Ordinary Share
(based on the current issued share capital this vesting target
represents a market capitalisation of GBP229 million). The
threshold share price vesting target of 12.5 pence per Ordinary
Shares was not amended.
The rationale for these amendments was outlined in the circular
published on 3 May 2018.
The total number of Shares over which all Recovery Awards
(including compensatory awards in respect of the transfer of
Employers' NICs) are granted will not exceed 15 per cent. of the
issued share capital of the Company from time to time (and, as
further diluted by the awards under the PSP).
Details of Grant
David Mulligan, CFO, who is considered a PDMR of the Company,
received Recovery Awards on 25 May 2018 over Ordinary Shares
granted under the DX Performance Share Plan 2017. These awards have
an exercise price of 1 penny per share and become exercisable
subject to continued employment at DX and share price targets.
PDMR Number of Ordinary Shares
subject to the Awards
---------------- --------------------------
David Mulligan 5,721,784
---------------- --------------------------
Ronald Series, Executive Chairman, Lloyd Dunn, CEO, and Paul
Ibbetson, Managing Director of DX Freight, received adjustments to
the Recovery Awards over Ordinary Shares granted on 21 December
2017 under the DX Performance Share Plan 2017. These awards have an
exercise price of 1 penny per share and become exercisable subject
to continued employment at DX and share price targets.
Paul Goodson and Russell Black, both Non-executive Directors,
also received adjustments to the nominal-cost share awards under
Restricted Share Award Contracts granted on 21 December 2017. These
awards have an exercise price of 1 penny per share and become
exercisable subject to continued employment at DX.
PDMR Original number Adjusted number Incremental
of Ordinary of Ordinary number of
Shares subject Shares subject Ordinary Shares
to the Awards to the Awards subject to
the Awards
--------------- ---------------- ---------------- -----------------
Ronald Series 8,169,000 23,370,626 15,201,626
--------------- ---------------- ---------------- -----------------
Lloyd Dunn 15,171,000 43,402,592 28,231,592
--------------- ---------------- ---------------- -----------------
Paul Ibbetson 4,000,000 11,443,568 7,443,568
--------------- ---------------- ---------------- -----------------
Paul Goodson 291,750 834,665 542,915
--------------- ---------------- ---------------- -----------------
Russell Black 291,750 834,665 542,915
--------------- ---------------- ---------------- -----------------
Unless otherwise defined, all capitalised terms used but not
defined in this announcement shall have the meaning given to them
in the Circular published on 3 May 2018.
Enquiries:
DX (Group) plc
www.dxdelivery.com
Ronald Series, Executive Chairman T: 020 3178 6378
Lloyd Dunn, Chief Executive (c/o KTZ Communications)
Officer
David Mulligan, Chief Financial
Officer
finnCap (Nominated Advisor and T: 020 7220 0500
Broker)
Matt Goode/Simon Hicks/Hannah
Boros (Corporate Finance)
Andrew Burdis/Camille Gochez
(Corporate Broking)
KTZ Communications T: 020 3178 6378
Katie Tzouliadis/ Irene Bermont-Penn/Emma
Pearson
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement via regulatory news service this inside information is
now considered to be in the public domain.
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: Ronald Series
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: Executive Chairman
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
share awards
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- -----------
nil 15,201,626
---------- -----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- -----------
nil 15,201,626
--------- -----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: Lloyd Dunn
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: Chief Executive Officer
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
share awards
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- -----------
nil 28,231,592
---------- -----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- -----------
nil 28,231,592
--------- -----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: David Mulligan
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: Chief Financial Officer
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
shares awards
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- ----------
nil 5,721,784
---------- ----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- ----------
nil 5,721,784
--------- ----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: Paul Ibbetson
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: MD, DX Freight
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
share awards
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- ----------
nil 7,443,568
---------- ----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- ----------
nil 7,443,568
--------- ----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: Paul Goodson
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: Non-Executive Director
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
share award
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- ----------
nil 542,915
---------- ----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- ----------
nil 542,915
--------- ----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------------------
a) Name: Russell Black
--- --------------------------------- ---------------------------------------
Reason for the notification
--- --------------------------------------------------------------------------
a) Position/status: Non-Executive Director
--- --------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial Notification
--- --------------------------------- ---------------------------------------
Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------
a) Name: DX (Group) Plc
--- --------------------------------- ---------------------------------------
b) LEI: 213800LA2YGSOFIYIH95
--- --------------------------------- ---------------------------------------
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 Ordinary Shares of
instrument, type of instrument: 1p nominal value
Identification code: GB00BJTCG679
--- --------------------------------- ---------------------------------------
b) Nature of the transaction: Grant of conditional
share award
--- --------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
pence
---------- ----------
nil 542,915
---------- ----------
--- --------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Average Volume(s)
Price: Price
pence
--------- ----------
nil 542,915
--------- ----------
--- --------------------------------- ---------------------------------------
e) Date of the transaction: 25 May 2018
--- --------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ---------------------------------------
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
DSHDMGZKLKZGRZG
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