Sportech PLC Notification of PDMR (1426M)
September 12 2019 - 5:30AM
UK Regulatory
TIDMSPO
RNS Number : 1426M
Sportech PLC
12 September 2019
12 September 2019
SPORTECH PLC
(the 'Company')
Notification of Transactions by Persons Discharging Managerial
Responsibilities ('PDMRs')
Award under the Sportech PLC Value Creation Plan (the
'Plan')
Following the appointment of Richard McGuire to Chief Executive
Officer as of 2 July 2019, the Company has, on Wednesday 11
September 2019, made an award under the Plan to Richard McGuire
along with other employees.
Under the terms of the Plan, which was approved by shareholders
in 2017, participants have the right to receive a proportion of a
pool of ordinary shares of 20 pence each in the Company ('Ordinary
Shares') that in aggregate deliver a value equal to 20% of the
value created for shareholders over the 5 year performance period
ending 31 December 2021. The awards will vest for nil consideration
and are subject to certain performance conditions, principally
delivering a total shareholder return in excess of 8% p.a. compound
growth above the starting share price of 95 pence. After adjusting
for dividends paid since the creation of the Plan, the indicative
vesting level currently is approximately 97 pence per share.
The awards will be settled in Ordinary Shares, however, the
remuneration committee have the discretion to settle up to half of
the awards in cash.
Full details of the Plan are available in the notice of General
Meeting on the Company's website
(http://www.sportechplc.com/investors/shareholder-information/meetings-and-voting).
The number of Ordinary Shares under award will be determined and
vest at the end of the five year performance period, or earlier in
the event of a change of control of the Company, and will be
calculated at that time by reference to the participant's
percentage entitlement to the growth in value below.
Director Position Percentage entitlement Percentage entitlement
of 20% pool of growth in value
----------------- ----------------- ----------------------- ----------------------
CHIEF EXECUTIVE
RICHARD MCGUIRE OFFICER 4.5% 0.9%
----------------- ----------------- ----------------------- ----------------------
For further information, please contact:
Sportech PLC
Giles Vardey, Chairman Tel: +44 (0) 117 902
9000
Peel Hunt Tel: +44 (0) 20 7418
8900
(Corporate Broker to Sportech)
George Sellar / Guy Pengelley
Buchanan Tel: +44 (0) 20 7466
5000
(Financial PR adviser to Sportech) sportech@buchanan.uk.com
Henry Harrison-Topham / Mark Court
/ Tilly Abraham
Notification of Deal Form of PDMR can be found below.
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -------------------------------------------------------------------------------------------------------------------
a) Name RICHARD MCGUIRE
--- ----------------------- ------------------------------------------------------------------------------------------
2. Reason for notification
--- -------------------------------------------------------------------------------------------------------------------
a) Position/Status CHIEF EXECUTIVE OFFICER
--- ----------------------- ------------------------------------------------------------------------------------------
b) Initial Initial notification
notification/amendment
--- ----------------------- ------------------------------------------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------------------------------------------------------
a) Name SPORTECH PLC
--- ----------------------- ------------------------------------------------------------------------------------------
b) LEI 2138003BHYUQWAYGSK09
--- ----------------------- ------------------------------------------------------------------------------------------
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 Ordinary Shares of GBP0.20 each in the capital of SPORTECH PLC
financial instrument, ISIN: GB00B28ZPV64
type of instrument and
identification code
--- ----------------------- ------------------------------------------------------------------------------------------
b) Nature of transaction Award of shares under the SPORTECH PLC VALUE CREATION PLAN
--- ----------------------- ------------------------------------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- -----------------------------------------------------------------------------
Nil Such number of shares as equals 0.9% of the growth in value above a 8% CAGR
over 5 years to
31 December 2021
--------- -----------------------------------------------------------------------------
--- ----------------------- ------------------------------------------------------------------------------------------
d) Aggregated Information n/a
--- ----------------------- ------------------------------------------------------------------------------------------
e) Date of transaction 11 September 2019
--- ----------------------- ------------------------------------------------------------------------------------------
f) Place of transaction London Stock Exchange (XLON)
--- ----------------------- ------------------------------------------------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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