TIDMJTC
RNS Number : 8859V
JTC PLC
12 April 2023
12 April 2023
JTC PLC
(the "Company" and together with its subsidiaries "JTC" or the
"Group")
Vesting and Grant of Performance Share Plan Awards
2020 PSP Awards Vesting
Further to the announcement of the Company's full year results
for the year ended 31 December 2022 and following approval by the
Remuneration Committee, JTC confirms the vesting of awards of
Ordinary shares of GBP0.01 each in the Company ("Ordinary Shares")
granted to Directors and certain persons discharging managerial
responsibilities ("PDMRs") under JTC's Performance Share Plan (the
"PSP") (the "2020 Awards"), as follows:
Name of Director / PDMR Number of Shares Vested
Nigel Le Quesne 99,762
------------------------
Martin Fotheringham 72,684
------------------------
Wendy Holley 13,658
------------------------
Iain Johns 13,658
------------------------
Further details of the achievement of the performance conditions
applicable to the 2020 Awards will be provided in the Company's
forthcoming Annual Report and Accounts for the year ended 31
December 2022.
The 2020 Awards will be satisfied by the transfer of existing
Ordinary Shares held by JTC PLC EBT to each Participant. The 2020
Awards are subject to a two-year holding period from the date of
vesting.
The notification set out below is provided in accordance with
the requirements of Article 19 of the UK Market Abuse Regulation
("UK MAR").
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. Nigel Le Quesne
2. Martin Fotheringham
3. Wendy Holley
4. Iain Johns
------------------------------------- -------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position/Status: 1. Chief Executive Officer
2. Chief Financial Officer
3. Chief Operating Officer
4. Group Head of Private Client Services
and PDMR
------------------------------------- -------------------------------------------------------
b) Initial Notification/Amendment: Initial Notification
------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name: JTC PLC
------------------------------------- -------------------------------------------------------
b) LEI: 213800DVUG4KLF2ASK33
------------------------------------- -------------------------------------------------------
4. Details of 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 Ordinary shares of GBP0.01 each
financial instrument:
Identification code: JE00BF4X3P53
------------------------------------- -------------------------------------------------------
b) Nature of the transaction: Vesting of awards granted under the PSP
------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------------------------------- ------------------------ -----------------------------
1. Nil 1. 99,762
2. Nil 2. 72,684
3. Nil 3. 13,658
4. Nil 4. 13,658
------------------------------------- ------------------------ -----------------------------
d) Aggregated volume: N/A
Price:
------------------------------------- -------------------------------------------------------
e) Date of the Transaction: 6 April 2023
------------------------------------- -------------------------------------------------------
f) Place of the Transaction: Outside a trading venue
------------------------------------- -------------------------------------------------------
Grant of Conditional 2023 PSP Awards
In accordance with the requirements of Market Abuse Regulation
Article 19, JTC announces that it has made PSP Awards over Ordinary
Shares to certain of its directors and PDMRs (the "2023 Awards") as
described below.
Name of Director / PDMR Number of Conditional
Shares Awarded
Nigel Le Quesne 139,187
----------------------
Martin Fotheringham 99,646
----------------------
Wendy Holley 77,243
----------------------
Iain Johns 45,936
----------------------
Dean Blackburn 43,816
----------------------
Richard Ingle 8,028
----------------------
No consideration was paid for the grant of the 2023 Awards,
which are structured as conditional share awards in accordance with
the PSP rules. Nigel Le Quesne, Martin Fotheringham and Wendy
Holley's 2023 Awards vest dependent on the achievement of relative
Total Shareholder Return ("TSR") and absolute Earnings Per Share
("EPS") performance conditions measured over the three-year
performance period, from 01.01.2023 to 31.12.2025.
Iain Johns, Dean Blackburn and Richard Ingle's 2023 Awards vest
dependent on the achievement of TSR, EPS and Group Business Plan
performance conditions measured over a three-year performance
period, from 01.01.2023 to 31.12.2025.
To the extent that the Performance Conditions are not satisfied,
the relevant part of the 2023 Awards shall lapse.
In addition, the 2023 Awards are further subject to an underpin
performance condition that the extent of vesting reflects the
overall performance of the Company over the three-year performance
period. When making this determination the Committee will have full
discretion to ensure that the final outcome is warranted based on
the performance of the Company in the light of all relevant factors
to ensure there have been no windfall gains.
The 2023 Awards are additionally subject to a two-year holding
period following the date of vesting during which a dividend
equivalent will accrue in the form of additional shares to the
extent the awards vest, as calculated on a re-investment basis.
The 2023 Awards, which are subject to the Malus and Clawback
conditions of the PSP, will ordinarily vest on the date on which
the Committee determines the extent to which the performance
conditions have been satisfied at the end of the three year
performance period.
Further details of the conditions applicable to the 2023 Awards
and the remuneration arrangements for the Executive Directors are
contained in Annual Report and Accounts for the year ended 31
December 2022.
The notification set out below is provided in accordance with
the requirements of Article 19 of the UK MAR.
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name: 1. Nigel Le Quesne
2. Martin Fotheringham
3. Wendy Holley
4. Iain Johns
5. Dean Blackburn
6. Richard Ingle
---------------------------------- -------------------------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------------------
a) Position/Status: 1. Chief Executive Officer
2. Chief Financial Officer
3. Chief Operating Officer
4. Group Head of Private Client Services
and PDMR
5. Group Head of Institutional Client Services
and PDMR
6. Chief Risk Officer and PDMR
---------------------------------- -------------------------------------------------------------
b) Initial Notification/Amendment: Initial Notification
---------------------------------- -------------------------------------------------------------
Details of the issuer, emission allowance market participation,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------
a) Name: JTC PLC
---------------------------------- -------------------------------------------------------------
b) LEI: 213800DVUG4KLF2ASK33
---------------------------------- -------------------------------------------------------------
Details of transaction(s); section to be repeated for (i)
4. 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 Ordinary shares of GBP0.01 each
financial instrument:
Identification code: JE00BF4X3P53
---------------------------------- -------------------------------------------------------------
b) Nature of the transaction: Grant of conditional share award under the
PSP
---------------------------------- -------------------------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------------------------------- --------------------- --------------------------------------
Nominal 1. 139,187
price of 2. 99,646
GBP0.01 3. 77,243
per share 4. 45,936
5. 43,816
6. 8,028
---------------------------------- --------------------- --------------------------------------
d) Aggregated volume:
Price: N/A
---------------------------------- -------------------------------------------------------------
e) Date of the Transaction: 11 April 2023
---------------------------------- -------------------------------------------------------------
f) Place of the Transaction: Outside trading venue
---------------------------------- -------------------------------------------------------------
For further information please contact:
Miranda Lansdowne
JTC (Jersey) Limited
Company Secretary
+44 1534 700 000
Miranda.Lansdowne@jtcgroup.com
About JTC
JTC is a publicly listed, global professional services business
with deep expertise in fund, corporate and private client services.
Every JTC person is an owner of the business and this fundamental
part of our culture aligns us with the best interests of all our
stakeholders. Our purpose is to maximize potential and our success
is built on service excellence, long-term relationships and
technology capabilities that drive efficiency and add value.
www.jtcgroup.com
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END
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