TIDMSFR

RNS Number : 7088D

Severfield PLC

30 June 2021

30(th) June 2021

Severfield plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification relates to the vesting and exercise of nil cost options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28(th) June 2018. These options vested on 28 June 2021 and were exercised and settled as set out below.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment. This only applied to directors who already satisfy the Company's shareholding requirement for executive directors. In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.

 
  Name              Number of shares     Number of shares    Cash paid to      Cash paid to          Shares retained 
                    awarded on 28        vested and          settle tax        participant after     by individual 
                    June 2018            exercised on 28     calculated at a   tax calculated at 
                                         June 2021 after     share price of    a share price of 
                                         dividend            GBP0.78           GBP0.78 
                                         equivalent 
                                         adjustment 
  Alan Dunsmore     117,613              134,047             GBP49,142         GBP55,415             0 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
  Ian Cochrane       108,732             123,925             GBP45,431         GBP51,230             0 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
  Derek Randall      98,984              112,815             GBP37,706         GBP50,290             0 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
  Adam Semple        13,098              14,928              GBP5,473          n/a                   7,912 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
 
 
  1   Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                           Alan Dunsmore 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                CEO 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Initial notification/Amendment                 Initial notification 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Name                                           Severfield plc 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   LEI                                            21380025AWPR781CY104 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 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 instrument,        Ordinary shares of 2.5p 
      type of instrument                               GB00B27YGJ97 
      Identification code 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Nature of the transaction                      Exercise of DSBP award and settlement of that exercise with a cash payment. 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)                           Price                                                            Volume     Total 
                                                        GBP0.78(price per share paid to settle the exercise of the       134,047    GBP104,557 
                                                        DSBP award) 
                                                                                                                       ---------  ------------ 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 d)   Aggregated information -   Aggregated volume   Not applicable-single transaction 
 
        -   Price 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 e)   Date of the transaction                        2021-06-28 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 f)   Place of the transaction                       Outside a trading venue 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                           Ian Cochrane 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                COO 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Initial notification/Amendment                 Initial notification 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Name                                           Severfield plc 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   LEI                                            21380025AWPR781CY104 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 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 instrument,        Ordinary shares of 2.5p 
      type of instrument                               GB00B27YGJ97 
      Identification code 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Nature of the transaction                      Exercise of DSBP award and settlement of that exercise with a cash payment. 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)                           Price                                                             Volume     Total 
                                                        GBP0.78 (price per share paid to settle the exercise of the       123,925    GBP96,661 
                                                        DSBP award) 
                                                                                                                        ---------  ----------- 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 d)   Aggregated information -   Aggregated volume   Not applicable-single transaction 
 
        -   Price 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 e)   Date of the transaction                        2021-06-28 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 f)   Place of the transaction                       Outside a trading venue 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                           Derek Randall 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                Director 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Initial notification/Amendment                 Initial notification 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------------------------------- 
 a)   Name                                           Severfield plc 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   LEI                                            21380025AWPR781CY104 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 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 instrument,        Ordinary shares of 2.5p 
      type of instrument                               GB00B27YGJ97 
      Identification code 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 b)   Nature of the transaction                      Exercise of DSBP award and settlement of that exercise with a cash payment. 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)                           Price                                                             Volume     Total 
                                                        GBP0.78 (price per share paid to settle the exercise of the       112,815    GBP87,996 
                                                        DSBP award) 
                                                                                                                        ---------  ----------- 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 d)   Aggregated information -   Aggregated volume   Not applicable-single transaction 
 
        -   Price 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 e)   Date of the transaction                        2021-06-28 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 f)   Place of the transaction                       Outside a trading venue 
     ---------------------------------------------  ------------------------------------------------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                  Adam Semple 
     ----------------------------------------------------  ----------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                       Finance director 
     ----------------------------------------------------  ----------------------------------------------------------- 
 b)   Initial notification/Amendment                        Initial notification 
     ----------------------------------------------------  ----------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                  Severfield plc 
     ----------------------------------------------------  ----------------------------------------------------------- 
 b)   LEI                                                   21380025AWPR781CY104 
     ----------------------------------------------------  ----------------------------------------------------------- 
 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 instrument, type of       Ordinary shares of 2.5p 
      instrument                                              GB00B27YGJ97 
      Identification code 
     ----------------------------------------------------  ----------------------------------------------------------- 
 b)   Nature of the transaction                             Exercise of DSBP award and settlement of that exercise 
                                                            partly in shares and partly with a 
                                                            cash payment. 
     ----------------------------------------------------  ----------------------------------------------------------- 
 c)   Price(s) and volume(s)                                                     Price              Volume   Total 
                                                               Share settlement   GBP0.00            7,912    GBP0 
                                                                                 -----------------  -------  --------- 
                                                               Cash settlement    GBP0.78 (price     7,016    GBP5,472 
                                                                                   per share paid 
                                                                                   to settle the 
                                                                                   exercise of the 
                                                                                   proportion of 
                                                                                   the DSBP award 
                                                                                   which is cash 
                                                                                   settled) 
                                                                                 -----------------  -------  --------- 
     ----------------------------------------------------  ----------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume          Not applicable-single transaction 
 
        -   Price 
     ----------------------------------------------------  ----------------------------------------------------------- 
 e)   Date of the transaction                               2021-06-28 
     ----------------------------------------------------  ----------------------------------------------------------- 
 f)   Place of the transaction                              Outside a trading venue 
     ----------------------------------------------------  ----------------------------------------------------------- 
 

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