Speedy Hire PLC Director/PDMR Shareholding (6072P)
June 21 2022 - 2:24AM
UK Regulatory
TIDMSDY
RNS Number : 6072P
Speedy Hire PLC
21 June 2022
Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Managerial
Responsibilities
On 20 June 2022 an award (the "PSP Award") over ordinary shares
of 5 pence each in the share capital of the Company ("Shares") was
granted under the Company's 2014 Performance Share Plan ("PSP") to
a person discharging managerial responsibilities as detailed below
(the "PDMR"). The number of Shares referred to below is the maximum
available if the performance conditions are met in full. In the
normal course of events, the PSP Award will become exercisable as
from the third anniversary of the grant, subject to the PDMR's
continued service and the extent to which the following objective
earnings per share ("EPS") and total shareholder return performance
("TSR") conditions have been satisfied:
-- 50% of the PSP Award will be subject to an EPS condition. 25%
of this part of the award vests for EPS of 6.17 pence with full
vesting of this part of the award for EPS of 7.72 pence for the
financial year ending 31 March 2025. A sliding scale operates
between these points; and
-- 50% of the PSP Award will be subject to a relative TSR
condition based on the Group's performance against the constituents
of the FTSE 250 (excluding investment trusts) measured over three
years from 1 April 2022 to 31 March 2025. 25% of this part of the
Award vests if the Company's TSR is ranked at the median of the
TSRs of the comparator group, with full vesting of this part of the
award for upper quartile performance. A sliding scale operates
between these points.
In addition to the above, the Company's Remuneration Committee
retains discretion to reduce the level of vesting of the PSP Award
in response to exceptional circumstances .
The PSP Award was granted in the form of nil-cost option and
remains subject to the rules of the PSP at all times including that
awards to executive directors are subject to a two-year post
vesting holding period (net of tax).
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Bunn
------------------------------ -------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position / status Chief Financial Officer
------------------------------ -------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Speedy Hire Plc
------------------------------ -------------------------------------
b) LEI 213800U78SIYAZDYXM61
------------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
of the financial
instrument
Identification GB0000163088
code
------------------------------ -------------------------------------
b) Nature of the Grant of award under the Speedy Hire
transaction Plc Performance Share Plan 2014
------------------------------ -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 747,417
------------------------------ -------------------------------------
d) Aggregated
information
N/A single transaction
* Aggregated volume
* Price
------------------------------ -------------------------------------
e) Date of the 2022-06-20
transaction
------------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ -------------------------------------
Enquiries:
Neil Hunt
Company Secretary
Speedy Hire Plc
Telephone: 01942 720000
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END
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