Luceco PLC Director/PDMR Shareholding (6760I)
November 27 2018 - 10:35AM
UK Regulatory
TIDMLUCE
RNS Number : 6760I
Luceco PLC
27 November 2018
LUCECO PLC (THE "COMPANY")
AWARDS UNDER LUCECO 2017 PERFORMANCE SHARE PLAN
Grant of an award to Matthew Webb
On 21 February 2018 shortly following his appointment, the
Company announced that Matthew Webb, the Company's Chief Financial
Officer, had been granted an award under the Luceco 2017
Performance Share Plan (the "PSP"). This award was in the form of a
nil-cost option in conjunction with a linked tax qualifying
option.
Due to an administrative error this award was not formally
granted to Mr Webb. As the nil-cost option operates in conjunction
with a linked tax qualifying option it was not possible to rectify
the terms of the award.
On 23 November 2018 the Company therefore made a replacement
award under the PSP.
The award is in the form of a nil-cost option over 729,040
ordinary shares of 0.05 pence in the Company.
In addition Mr Webb has been awarded a linked tax qualifying
option over 72,904 shares at an exercise price of 41.15 pence. On
exercise the number of shares under the nil-cost option will be
reduced proportionally to take account of any gain on the exercise
of the tax qualifying option such that Mr Webb will not receive a
greater number of shares than is subject to the nil-cost
option.
The award will vest subject to the satisfaction of performance
conditions measuring the Company's earnings per share and total
shareholder return performance. Earnings per share will be measured
over the three financial years from 1 January 2018 to 31 December
2020. Total shareholder return will be measured over the three year
period from 23 November 2018 to 22 November 2021.
No consideration was paid for the award.
The Remuneration Committee of the Company believes that making
this award to Mr Webb is in the best interests of the Company.
Surrender of a PSP Award by John Hornby
On 27 November 2018, John Hornby, the Company's Chief Executive
Officer, surrendered the award granted to him under the PSP on 27
July 2018. This award was in the form of a nil-cost option over
431,415 ordinary shares of 0.05 pence in the Company.
This notification is made in accordance with the Market Abuse
Regulation ("MAR"). Template notifications required by the MAR are
attached to this announcement.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Matt Webb
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Luceco PLC
b) LEI 213800BBFZK4W4P98U76
4 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 GBP0.0005
instrument, type of instrument
GB00BZC0LP49
Identification code
b) Nature of transaction An award of Ordinary Shares made under the Luceco PLC Performance Share
Plan ("PSP") on 23
November 2018 in the form of 1) a nil-cost option and 2) a linked tax
qualifying option
c) Price(s) and volume(s) Price(s) Volume(s)
1: nil 1: 729,040
2: GBP0.4115 2: 72,904
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 23/11/2018
f) Place of the transaction Outside a trading venue (XOFF)
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
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November 27, 2018 11:35 ET (16:35 GMT)
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