Severfield PLC Notification of Transactions of Directors (4550P)
October 09 2023 - 8:46AM
UK Regulatory
TIDMSFR
RNS Number : 4550P
Severfield PLC
09 October 2023
9(th) October 2023
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 share options granted under the Severfield Deferred
Share Bonus Plan ("the Plan") on 28(th) June 2019 and 5(th) October
2020. These options vested on 28(th) June 2022 and 5(th) October
2023 respectively 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. 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.
2019 DSBP
Name Number of shares Number of shares Cash paid to Cash to be paid to Shares retained
awarded on 28(th) vested and settle tax participant after by individual
June 2019 exercised on calculated at a tax calculated at
5(th) October share price of a share price of
2023 after GBP0.61 GBP0.61
dividend
equivalent
adjustment
Alan Dunsmore 50,724 57,884 GBP16,595 n/a 30,678
------------------- ------------------ ------------------ ------------------ -------------------
2020 DSBP
Name Number of shares Number of shares Cash paid to Cash to be paid to Shares retained
awarded on 5 vested and settle tax participant after by individual
October 2020 exercised on calculated at a tax calculated at
5(th) October share price of a share price of
2023 after GBP0.61 GBP0.61
dividend
equivalent
adjustment
Alan Dunsmore 194,314 222,158 GBP63,693 GBP71,823 0
------------------- ------------------ ------------------ ------------------ -------------------
Derek Randall 164,474 188,042 GBP30,425 GBP84,280 0
------------------- ------------------ ------------------ ------------------ -------------------
Adam Semple 127,410 145,667 GBP41,763 n/a 77,203
------------------- ------------------ ------------------ ------------------ -------------------
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, type Ordinary shares of 2.5p
of instrument GB00B27YGJ97
Identification code
---------------------------------------------- ----------------------------------------------------------------------------------------------------------------------
b) Nature of the transaction 1. Exercise of DSBP award and settlement of that exercise partly in shares and partly with
a cash payment.
2. Exercise of DSBP award and settlement of that exercise with a cash payment.
---------------------------------------------- ----------------------------------------------------------------------------------------------------------------------
c) Price(s) and volume(s) 1. Price Volume Total
Share settlement GBP0.00 30,678 GBP0
------------------------------------------------ ------- ----------
Cash settlement GBP0.61 (price per share paid to settle the 27,206 GBP16,595
exercise of the proportion
of the DSBP award which is cash settled)
------------------------------------------------ ------- ----------
2. Price Volume Total
--------- ------------
GBP0.61(price per share paid to settle the exercise of the DSBP award) 222,158 GBP135,516
--------- ------------
---------------------------------------------- ----------------------------------------------------------------------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
---------------------------------------------- ----------------------------------------------------------------------------------------------------------------------
e) Date of the transaction 2023-10-05
---------------------------------------------- ----------------------------------------------------------------------------------------------------------------------
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, type Ordinary shares of 2.5p
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
GBP0.61 (price per share paid to settle the exercise of the 188,042 GBP114,705
DSBP award)
--------- ------------
---------------------------------------------- ------------------------------------------------------------------------------------------
d) Aggregated information - Aggregated volume Not applicable-single transaction
- Price
---------------------------------------------- ------------------------------------------------------------------------------------------
e) Date of the transaction 2023-10-05
---------------------------------------------- ------------------------------------------------------------------------------------------
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 CFO
-------------------------------------------------- ------------------------------------------------------------
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 77,203 GBP0
----------------- ------- ----------
Cash settlement GBP0.61 (price 68,464 GBP41,763
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 2023-10-05
-------------------------------------------------- ------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------- ------------------------------------------------------------
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END
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