Redde Plc Performance share plan grant of awards
September 08 2017 - 9:28AM
UK Regulatory
TIDMREDD
8 September 2017
Redde plc
("Company")
Grant of Awards under the 2016 Performance Share Plan
On 8 September 2017, the Remuneration Committee made awards of nil-paid options
over ordinary shares of 0.1 pence each in the capital of the Company under the
2016 Performance Share Plan to the following executive directors:
Name of Director No. of Award Structure of Award Exercise Price
Shares
Martin Ward 228,287 Nominal Cost Option Award 0.1 pence
Stephen Oakley 153,470 Nominal Cost Option Award 0.1 pence
The above awards are subject to vesting criteria relating to the achievement of
earnings per share ("EPS") and total shareholder return ("TSR") targets over a
three financial year performance period. These awards will normally become
exercisable as nominal cost options subject to continued employment and to the
extent the TSR and EPS targets are achieved over the three financial year
performance period.
Up to one half of these awards will vest in full if the Company achieves a
basic adjusted EPS of 14.64 pence in the financial year ended 30 June 2020 with
a straight-line reduction to NIL if EPS is below 12.95 pence. Up to one half of
these awards will vest in full if the Company's TSR performance over the same
period at least equals the upper quartile of the AIM 100 index with a straight
line reduction to NIL if performance is below the median.
Once vested, the awards shall ordinarily remain exercisable until the tenth
anniversary of the grant of the awards. No consideration was paid for the grant
of the awards but the nominal cost (option price) is due on the exercise of the
awards.
The notifications below, made in accordance with the requirements of the Market
Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Martin Ward
2 Reason for the notification
a) Position/status Director
b) Initial notification/ Initial notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Redde plc
b) LEI 21380063LFNLZM7AYT28
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 Options over ordinary shares of 0.1 pence each
financial instrument,
type of instrument
GB00BLWFOR63
Identification code
b) Nature of the Grant of PSP options
transaction
c) Price(s) and volume(s) Price(s) Volume(s)
- 228,287
d) Aggregated information N/A
-Aggregated volume
e) Date of the transaction 8 September 2017
f) Place of the Outside of trading venue
transaction
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Stephen Oakley
2 Reason for the notification
a) Position/status Director
b) Initial notification/ Initial notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Redde plc
b) LEI 21380063LFNLZM7AYT28
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 Options over ordinary shares of 0.1 pence each
financial instrument,
type of instrument
GB00BLWFOR63
Identification code
b) Nature of the Grant of PSP options
transaction
c) Price(s) and volume(s) Price(s) Volume(s)
- 153,470
d) Aggregated information N/A
-Aggregated volume
e) Date of the transaction 8 September 2017
f) Place of the Outside of trading venue
transaction
For further information contact:
Redde plc
01225 321134
Martin Ward, Chief Executive Officer
Stephen Oakley, Chief Financial Officer
Cenkos Securities plc (Nominated Adviser and Joint Broker) 0207 397
8900
Elizabeth Bowman
N+1 Singer Capital Markets Limited (Joint Broker) 0207 496
3000
Mark Taylor
Square1 Consulting
0207 929 5599
David Bick
END
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