TIDMSPI
RNS Number : 1375T
Spire Healthcare Group PLC
16 March 2023
Spire Healthcare Group plc
16 March 2023
Notification of Transactions of Persons Discharging Managerial
Responsibilities
This notification is made in accordance with DTR 3.1.4R (1) (a)
of the Disclosure and Transparency Rules.
Grant of Deferred Share Bonus Plan ("DSBP") Awards
Spire Healthcare Group plc (the "Company") announces that on 15
March 2023, awards (the "DSBP Awards") were granted over the
Company's ordinary shares in the form of nil-cost options to the
Directors named below, under the Spire Healthcare Group plc
DSBP.
Under the DSBP, Executive Directors are required to defer a
proportion of their gross cash bonus, received in respect of the
full year ended 31 December 2022, into shares in the Company for a
period of three years. The Directors listed below have the
following interest in shares as deferred share bonus awards under
the DSBP:
Director Percentage deferral Deferred Shares
of 2022 gross cash
bonus*
Justin Ash 50% 116,473
Jitesh Sodha 33% 51,569
* To be disclosed in the 2022 Annual Report and Accounts
The share price used to determine the number of Deferred Shares
subject to award was 213.0 pence, being the mid-market closing
share price on 14 March 2023 (the dealing day prior to the awards
being made).
The DSBP Awards will vest on the third anniversary of the grant
date on 15 March 2026, subject to continued employment. Upon
vesting, the options will remain exercisable until 14 March
2033.
Grant of Long Term Incentive Plan ("LTIP") awards
The Company further announces that, on 15 March 2023, a
performance share award was granted over the Company's ordinary
shares in the form of nil cost options to the following Executive
Directors and PDMR in the Company, under the rules of the Spire
Healthcare Group plc Long Term Incentive Plan.
Executive Director Maximum number of shares under Award
Justin Ash 541,661
Jitesh Sodha 364,448
Other PDMRs
John Forrest 206,426
The number of shares set out above represents 200% of each
Executive Director's base salary and 125% of John Forrest's base
salary. It is the maximum number which may vest under the LTIP
Awards following the end of the performance period (31 December
2025). The shareholder-approved Remuneration Policy permits awards
of up to 200% of base salary for Executive Directors.
The actual number of shares which vest will depend on the extent
to which the relevant performance conditions have been
satisfied.
The performance conditions applicable to the LTIP Awards will be
based as follows:
-- 35% on relative total shareholder return (TSR) performance;
-- 35% on ROCE performance; and
-- 30% on two Operational Excellence measures.
Further details of these performance conditions will be
disclosed in the 2022 Annual Report and Accounts when
published.
The share price used to determine the number of shares under the
LTIP Awards was 237.4 pence being the average of the mid-market
closing share price over the thirty trading days ending on 14 March
2023.
The transaction place is London.
Notes:
1) For Justin Ash and Jitesh Sodha the 2023 LTIP awards
described above will also be subject to a further two-year holding
period following the vesting date.
2) The actual number of shares which vest under the LTIP awards
will depend on the extent to which the relevant performance
conditions are satisfied in due course.
Name of contact and telephone number for queries:
Philip Davies
Company Secretary
Spire Healthcare Group plc
Tel: 07803 508348
Notification and public disclosure of transaction by persons
discharging managerial responsibility and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Justin Ash
----------------------------------------- --------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer/PDMR
----------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
a) Name Spire Healthcare Group plc
----------------------------------------- --------------------------------------------
b) LEI 213800IBJPW3SE2RA350
----------------------------------------- --------------------------------------------
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 Ordinary shares of 1 pence each
the financial
instrument, type GB00BNLPYF73
of instrument
Identification
code
----------------------------------------- --------------------------------------------
b) Nature of the Grant of performance share awards under
transaction the Company's Deferred Share Bonus Plan
----------------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------------------- --------------------- ---------------------
Nil 116,473
-------------------------------------------------------------------- ---------------------
d) Aggregated information As above
- Aggregated volume
- Price
----------------------------------------- --------------------------------------------
e) Date of the transaction 2023-03-15
----------------------------------------- --------------------------------------------
f) Place of the transaction XLON
----------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Jitesh Sodha
----------------------------------------- --------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer/PDMR
----------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
a) Name Spire Healthcare Group plc
----------------------------------------- --------------------------------------------
b) LEI 213800IBJPW3SE2RA350
----------------------------------------- --------------------------------------------
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 Ordinary shares of 1 pence each
the financial
instrument, type GB00BNLPYF73
of instrument
Identification
code
----------------------------------------- --------------------------------------------
b) Nature of the Grant of performance share awards under
transaction the Company's Deferred Share Bonus Plan
----------------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------------------- --------------------- ---------------------
Nil 51,569
-------------------------------------------------------------------- ---------------------
d) Aggregated information As above
- Aggregated volume
- Price
----------------------------------------- --------------------------------------------
e) Date of the transaction 2023-03-15
----------------------------------------- --------------------------------------------
f) Place of the transaction XLON
----------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Justin Ash
----------------------------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer/PDMR
----------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Spire Healthcare Group plc
----------------------------------------- -------------------------------------------
b) LEI 213800IBJPW3SE2RA350
----------------------------------------- -------------------------------------------
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 Ordinary shares of 1 pence each
the financial
instrument, type GB00BNLPYF73
of instrument
Identification
code
----------------------------------------- -------------------------------------------
b) Nature of the Grant of performance share awards under
transaction the Company's Long Term Incentive Plan
----------------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------------------- --------------------- --------------------
Nil 541,661
-------------------------------------------------------------------- --------------------
d) Aggregated information As above
- Aggregated volume
- Price
----------------------------------------- -------------------------------------------
e) Date of the transaction 2023-03-15
----------------------------------------- -------------------------------------------
f) Place of the transaction XLON
----------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Jitesh Sodha
----------------------------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer/PDMR
----------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Spire Healthcare Group plc
----------------------------------------- -------------------------------------------
b) LEI 213800IBJPW3SE2RA350
----------------------------------------- -------------------------------------------
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 Ordinary shares of 1 pence each
the financial
instrument, type GB00BNLPYF73
of instrument
Identification
code
----------------------------------------- -------------------------------------------
b) Nature of the Grant of performance share awards under
transaction the Company's Long Term Incentive Plan
----------------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------------------- --------------------- --------------------
Nil 364,448
-------------------------------------------------------------------- --------------------
d) Aggregated information As above
- Aggregated volume
- Price
----------------------------------------- -------------------------------------------
e) Date of the transaction 2023-03-15
----------------------------------------- -------------------------------------------
f) Place of the transaction XLON
----------------------------------------- -------------------------------------------
a) Name John Forrest
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Chief Operating Officer/PDMR
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Spire Healthcare Group plc
------------------------------------- -------------------------------------------
b) LEI 213800IBJPW3SE2RA350
------------------------------------- -------------------------------------------
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 Ordinary shares of 1 pence each
the financial
instrument, type GB00BNLPYF73
of instrument
Identification
code
------------------------------------- -------------------------------------------
b) Nature of the Grant of performance share awards under
transaction the Company's Long Term Incentive Plan
------------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- -------------------- ---------------------
Nil 206,426
--------------------------------------------------------------- ---------------------
d) Aggregated information As above
- Aggregated volume
- Price
------------------------------------- -------------------------------------------
e) Date of the transaction 2023-03-15
------------------------------------- -------------------------------------------
f) Place of the transaction XLON
------------------------------------- -------------------------------------------
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