GVC Holdings PLC Directors Dealings - Grant of Option to New CFO (1058B)
March 31 2017 - 1:01AM
UK Regulatory
TIDMGVC
RNS Number : 1058B
GVC Holdings PLC
31 March 2017
31 March 2017
GVC Holdings PLC
("GVC" or "Company")
Directors Dealings - Grant of Option to New CFO
Following the formal appointment of Paul Miles as GVC's Chief
Financial Officer ("CFO") and the recent release of the Company's
2016 annual results, GVC has granted the following share option
("Option") to the CFO:
Grant date: 30 March 2017
Exercise price: GBP4.22
Securities: GVC ordinary shares of EUR0.01 each ("Shares")
Number of Shares: 350,000
The Company has granted the Option under the exemption to
Listing Rule 9.4.1 contained in Listing Rule 9.4.2 (2). The rules
governing the Option are identical to the rules of the GVC 2016
Management Incentive Plan ("MIP") except in respect of the latter's
eligibility provision.
The Option will vest one-third on the date of grant. Thereafter,
subject to the satisfaction of a performance condition, one ninth
will vest on 2 May 2017 and then one-ninth shall vest each
subsequent quarter, so that all of the Shares subject to the Option
shall have vested by 2 August 2018, in line with the vesting
schedule for the awards granted to senior executives under the MIP
and to the Directors under the GVC 2015 Long Term Incentive Plan
("2015 LTIP") (see the Company's announcement of 3 February 2016).
The Option will lapse, if not exercised, on 30 March 2027.
The performance condition applying to the Option is the same
condition applying to the 2015 LTIP and other MIP awards, being a
comparator total shareholder return ("TSR") of the Company against
the FTSE 250. Each ninth of the Shares subject to the Option's
performance condition will have its TSR condition reviewed from 2
February 2016 (i.e. the same performance condition start date as
for the 2015 LTIP awards) until the relevant vesting date. To the
extent the TSR condition is not met at that time then it shall be
tested in the next quarter and, if necessary, at the end of the
vesting period. In order to vest, the TSR of the Company must rank
at median or above against the FTSE 250.
For further information:
GVC Holdings PLC
Tel: +44 (0)
Kenneth Alexander, Chief Executive 1624 652 559
Paul Miles, Chief Financial
Officer
Nick Batram, Head of Investor Tel: +44 (0)
Relations & Corporate Strategy 20 7337 0110
Media enquiries:
Bell Pottinger
David Rydell, Anna Legge, Laura Tel: +44 (0)
Jaques 20 3772 2500
1 Details of the PDMR/person closely associated
---- ---------------------------------------------------------
Full legal name of person / company (or
other entity) who/which has undertaken the
transaction: Paul Miles
---- ---------------------------------------------------------
Nature of holding (please delete those not
applicable): Beneficial
---- ---------------------------------------------------------
Name of broker used (if any): N/A
---- ---------------------------------------------------------
2 Reason for the notification
---- ---------------------------------------------------------
2a) Job title/role of PDMR: CFO
---- ----------------------------- --------------------------
2b) Status of this notification: Initial notification
---- ----------------------------- --------------------------
3 Details of the issuer
---- ---------------------------------------------------------
a) Name: GVC HOLDINGS PLC
---- ----------------------------- --------------------------
b) LEI: 213800GNI3K45LQR8L28
---- ----------------------------- --------------------------
4 Details of the transaction(s)
---- ---------------------------------------------------------
4a) Type of instrument: Ordinary shares of
EUR0.01 each
---- ----------------------------- --------------------------
4b) Nature of the transaction: Grant of an option
---- ----------------------------- --------------------------
Price per share (in Price per Volume
pence) and volume (number) share in
of shares: pence
---- ----------------------------- ----------- -------------
4c) 422p 350,000
---- ----------------------------- ----------- -------------
Totals from 4(c): -Price per Total volume
share in
pence
---- ----------------------------- ----------- -------------
4d) 422p 350,000
---- ----------------------------- ----------- -------------
4e) Date of execution of transaction: (YYYY
- MM - DD) 2017-03-30
---- ---------------------------------------------------------
4f) Place of transaction: Outside a trading venue
---- ----------------------------- --------------------------
5 Beneficial shareholding Nil
before the transaction
(including shares held
by associated persons):
---- ----------------------------- --------------------------
6 Beneficial shareholding Nil
after the transaction
(including shares held
by your associated
persons):
---- ----------------------------- --------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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