SIG PLC Director/PDMR Shareholding (3178D)
April 25 2017 - 11:08AM
UK Regulatory
TIDMSHI
RNS Number : 3178D
SIG PLC
25 April 2017
SIG plc
DIRECTOR/PDMR Shareholding
Notification and public disclosure of LTIP Awards to
Directors/Persons Discharging Managerial Responsibilities and their
Closely Associated Persons
SIG plc confirms that an allocation was granted under the terms
of the SIG plc 2014 Long Term Incentive Plan ("LTIP") to Executive
Directors as set out below. The awards were granted on 24 April
2017 and the ordinary shares will vest at the end of a three-year
period depending on the achievement of performance targets set out
in the LTIP, and are then subject to a further two-year holding
period. The awards take the form of nil cost options, being an
option under the LTIP, with a nil exercise price.
Name Status No. of shares subject to allocation
Meinie Oldersma Director 954,003
Group Chief Executive
Nick Maddock Director 459,965
Chief Financial Officer
Following this award, total holding and interests in ordinary
shares in SIG plc are:
Name Total holdings Percentage Total interest
of of current in
ordinary shares issued share ordinary shares
capital
----------------- ------------------ --------------- -----------------
Meinie Oldersma Nil Nil 954,003
----------------- ------------------ --------------- -----------------
Nick Maddock Nil Nil 459,965
----------------- ------------------ --------------- -----------------
This announcement and the following disclosures are made in
accordance with Article 19 of the EU Market Abuse Regulation.
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------------
a) Name Meinie Oldersma
---- -------------------------------- -------------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------------
a) Position/status PDMR (Chief Executive Officer)
---- -------------------------------- -------------------------------------
b) Initial notification/Amendment This is an initial notification
---- -------------------------------- -------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------------
a) Name SIG plc
---- -------------------------------- -------------------------------------
b) LEI 213800VDC1BKJEZ8PV53
---- -------------------------------- -------------------------------------
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 10p
of the financial
instrument, ISIN: GB0008025412
type of instrument
Identification
code
---- -------------------------------- -------------------------------------
b) Nature of the Grant of an award under the
transaction SIG plc 2014 Long Term Incentive
Plan as a conditional award
of shares. Subject to continued
service, normally vests after
3 years and subject to a further
2 year holding period
---- -------------------------------- -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
---- -------------------------------- ------------------ -----------------
GBP Nil 954,003
-------------------------------------------------------- -----------------
d) Aggregated
information Aggregated volume: 954,003
* Aggregated volume GBP Nil
* Price
---- -------------------------------- -------------------------------------
e) Date of the 2017-04-24
transaction
---- -------------------------------- -------------------------------------
f) Place of the XLON
transaction
---- -------------------------------- -------------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------------
a) Name Nick Maddock
---- -------------------------------- -------------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------------
a) Position/status PDMR (Chief Financial Officer)
---- -------------------------------- -------------------------------------
b) Initial notification/Amendment This is an initial notification
---- -------------------------------- -------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------------
a) Name SIG plc
---- -------------------------------- -------------------------------------
b) LEI 213800VDC1BKJEZ8PV53
---- -------------------------------- -------------------------------------
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 10p
of the financial
instrument, ISIN: GB0008025412
type of instrument
Identification
code
---- -------------------------------- -------------------------------------
b) Nature of the Grant of an award under the
transaction SIG plc 2014 Long Term Incentive
Plan as a conditional award
of shares. Subject to continued
service, normally vests after
3 years and subject to a further
2 year holding period
---- -------------------------------- -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
---- -------------------------------- ------------------ -----------------
GBP Nil 459,965
-------------------------------------------------------- -----------------
d) Aggregated
information Aggregated volume: 459,965
* Aggregated volume GBP Nil
* Price
---- -------------------------------- -------------------------------------
e) Date of the 2017-04-24
transaction
---- -------------------------------- -------------------------------------
f) Place of the XLON
transaction
---- -------------------------------- -------------------------------------
Subject to the rules of the LTIP and the satisfaction of the
performance conditions detailed below, the earliest vesting date of
the award is normally 24 April 2020.
The performance conditions subject to which the options have
been granted are as follows:
An Award shall be subject to two performance targets in
accordance with this Schedule.
1. Two-thirds of the award is subject to a condition as to the
average return on capital employed (ROCE) over the Performance
Period (the "ROCE Tranche"). The period over which the ROCE
performance condition will be measured will be the period of three
financial years 31 December 2017, 2018 and 2019.
Average Return on Capital % of ROCE Tranche
Employed (ROCE) for vesting
FY2017-2019
--------------------------- ---------------------
10% or less Nil
--------------------------- ---------------------
Above 10% but less than Between 0% and 100%
13.5% on a
straight-line basis
--------------------------- ---------------------
13.5% and above 100%
--------------------------- ---------------------
2. One-third of the award is subject to a condition as to the
cumulative underlying earnings per share (EPS) over the Performance
Period (the "EPS Tranche"). The period over which the EPS
performance condition will be measured will be the period of three
financial years 31 December 2017, 2018 and 2019.
Cumulative Underlying % of EPS Tranche vesting
EPS for
FY2017-2019
----------------------- -------------------------
Less than 31 pence Nil
----------------------- -------------------------
31 pence to 38 pence Between 0% and 100%
on a
straight-line basis
----------------------- -------------------------
Above 38 pence 100%
----------------------- -------------------------
R C Monro
Company Secretary 0114 285 6355
This information is provided by RNS
The company news service from the London Stock Exchange
END
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