Informa PLC Director/PDMR Shareholding (6990H)
March 26 2020 - 4:55AM
UK Regulatory
TIDMINF
RNS Number : 6990H
Informa PLC
26 March 2020
Informa LEI: 5493006VM2LKUPSEDU20
Informa PLC Press Release
26 March 2020
Board Update & Director Shareholdings
London: Informa (LSE: INF.L), the International Exhibitions,
Events, Information Services and Advanced Learning Group, announces
an update in relation to the Chairman succession process, Director
and Board shareholdings, and future and in-period compensation.
This follows a Remuneration Committee meeting held on 24 March
2020:
-- The Chairman and Non-Executive Board Directors have committed
to take a voluntary 25% reduction in Board fees through the current
period of uncertainty created by COVID-19, and also to receive all
further fees through the period in equity rather than cash. These
shares will be issued on a rolling monthly basis.
-- The Group Chief Executive and Group Finance Director have
proposed a voluntary 33% reduction in salary through the current
period of uncertainty created by COVID-19. This is complemented by
a wider commitment across the Executive Management Team at Informa
("EMT"), who have equally proposed a voluntary salary reduction of
25% through this period.
-- The Board also confirms today that, given the current
uncertainty created by COVID-19, the ongoing Chairman succession
process will continue, but will likely run to the back end of the
period originally outlined, towards the end of 2020. This will
ensure continuity through the year and allow the current Chairman
to see the Group through to the other side of COVID-19.
-- Earlier this month the Chairman and Chairman of the
Remuneration Committee purchased additional Informa shares in the
open market, acquiring 37,850 shares and 1,600 shares
respectively.
-- The Group Chief Executive, Stephen A. Carter, purchased
Informa shares in the open market, acquiring 35,745 shares at
419.65 pence per share, increasing his total interest to 1,356,954
shares (and current beneficial holding to 743,893 shares). The
Group Finance Director, Gareth Wright, also purchased shares in the
open market, acquiring 21,836 shares at 455.67 pence per share,
increasing his total interest to 1,136,425 shares (and current
beneficial holding to 552,130 shares).
-- The Company confirms today that a proportion of the Executive
Directors' Annual Bonus earned for 2019 will be held in the form of
deferred share options for a further three years before becoming
available ("DSBP Options"). The deferred component of the bonus was
converted into shares on 24 March, calculated at 58,297 deferred
share options for Chief Executive, Stephen A. Carter, and 3,903
deferred share options for Finance Director, Gareth Wright.
-- As part of the 3-year 2020-2023 Long-Term Incentive
Programme, the Remuneration Committee made the necessary award of
shares and share options for both The Leadership and The Executive
Director LTIPs, with Chief Executive, Stephen A. Carter, and
Finance Director, Gareth Wright, receiving 649,917 and 277,931
share options respectively for the 2020-2023 period ("LTIP
Options").
Enquiries
Informa PLC
Rupert Hopley, Company Secretary +44 (0)20 7017 5000
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Notes
LTIP Options are conditionally exercisable from the third to
tenth anniversary of grant and, for the Executive Directors only,
will be subject to a two-year holding period on becoming
exercisable. The LTIP Options will only vest to the extent that the
performance targets set for the 2020 LTIP Awards are met. No
consideration was paid for the grant of the LTIP Options.
The DSBP Options are exercisable from the third to the tenth
anniversary of the award. These awards are not subject to further
holding or performance conditions.
The transactions outlined took place outside of a trading
venue.
This notification is made in accordance with the requirements of
the EU Market Abuse Regulations.
Informa PLC
Informa is a leading international Exhibitions, Events,
Information Services and Scholarly Publishing Group with annual
revenues approaching GBP3 billion. It helps commercial,
professional and academic communities work smarter and make better
decisions faster, through specialist content and intelligence, and
opportunities to connect and learn. For more information, please
visit www.informa.com .
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END
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