TIDMSVS

RNS Number : 5981R

Savills PLC

30 June 2020

SAVILLS PLC (THE 'COMPANY')

NOTIFICATION OF INTERESTS OF DIRECTORS/ PERSONS DISCHARGING MANAGERIAL RESPONSIBILIES ('PDMRS')

Grant of Share Awards

The Company announces that on 30 June 2020 awards have been made under The Savills plc Performance Share Plan (the "Performance Share Plan") to Directors and PDMRS of the Company as follows:

 
 Director / PDMR           Number of Shares subject        Total number of shares 
                                 to the Performance    subject to the Performance 
                                 Share Plan awarded          Share Plan following 
                                  to the Director /             this notification 
                               PDMR on 30 June 2020 
 Mark Ridley (Director)                      70,828                       200,658 
                          -------------------------  ---------------------------- 
 Simon Shaw (Director)                       54,141                       171,401 
                          -------------------------  ---------------------------- 
 Chris Lee (PDMR)                            27,551                        82,205 
                          -------------------------  ---------------------------- 
 

The Performance Share Plan provides for the award of nil cost options or conditional awards of ordinary shares in the Company.

Awards of shares are made subject to a three-year performance period. Awards which satisfy the applicable performance criteria (as below) in the three-year performance period will then vest after an additional two-year holding period.

Awards vest subject to the satisfaction of the following performance criteria measured over the three years following grant:

(a) one-third of the initial value of an award is subject to the Company's Total Shareholder Return ('TSR') performance measured against the TSR of the FTSE Mid 250 Index (excluding investment trusts);

(b) a further one-third of the initial value of an award is subject to real (i.e. growth in excess of RPI) Group Earnings per Share ('EPS') growth performance; and

(c) the final one-third of the initial value of an award is subject to the Return on Equity ('ROE') targets, with ROE defined as underlying profit before tax divided by average ordinary shareholders' equity measured over the three-year performance period.

Awards vest as follows:

(a) for the TSR linked part of an award, 25% (i.e. threshold) will vest if the Company's TSR matches Index performance, rising to 100% (i.e. maximum) if the Company's TSR outperforms the Index by 8% p.a., compound with sliding scale vesting between the two points;

(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest if the Company's real EPS growth (i.e. growth in excess of RPI) is 3% p.a., compound rising to 100% (i.e. maximum) if the Company's real (i.e. growth in excess of RPI) EPS growth is 8% p.a., compound with sliding scale vesting between the two points; and

(c) for the ROE linked part of an award, 25% (i.e. threshold) will vest if the Company's ROE is 24%, rising to 100% (i.e. maximum) if the Company's ROE is 32.5% or more; and with straight-line vesting between the two points.

We acknowledge that, in common with many other companies we have seen a fall in our share price since the end of February as a result of the coronavirus pandemic. Under the rules of the Performance Share Plan, the Remuneration Committee has full discretion to ensure that the final outturns reflect all relevant factors, including consideration of any windfall gains.

The information set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.

 
 1.    Details of the person discharging managerial responsibilities/ 
        person closely associated 
 (a)   Name                                             1. Mark Ridley 
                                                         2. Simon Shaw 
                                                         3. Chris Lee 
      ------------------------------------  ------------------------------------------------ 
 2.    Reason for the notification 
      -------------------------------------------------------------------------------------- 
 (a)   Position/ status                           1. Group Chief Executive/ Director 
                                                   2. Group Chief Financial Officer/ 
                                                   Director 
                                                   3. Group Legal Director and Company 
                                                   Secretary/ PDMR 
      ------------------------------------  ------------------------------------------------ 
 (b)   Initial notification/                 Initial notification 
        Amendment 
      ------------------------------------  ------------------------------------------------ 
 3.    Details of the issuer 
      -------------------------------------------------------------------------------------- 
 (a)   Name                                  Savills plc 
      ------------------------------------  ------------------------------------------------ 
 (b)   LEI                                   213800WXICGMBWHTA933 
      ------------------------------------  ------------------------------------------------ 
 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                    Awards over Savills plc Ordinary Shares 
        Financial Instrument                  of 2.5p each 
      ------------------------------------  ------------------------------------------------ 
 (b)   Identification code                   GB00B135BJ46 
        of the Financial 
        Instrument 
      ------------------------------------  ------------------------------------------------ 
 (c)   Nature of the transaction             Grant of awards over Ordinary Shares 
                                              in accordance with the Company's Performance 
                                              Share Plan 
      ------------------------------------  ------------------------------------------------ 
 (d)   Price(s) and volume(s)                Price(s)          Volume(s) 
      ------------------------------------  ----------------  ------------------------------ 
                                             GBPnil per                   1. 70,828 
                                              share 
                                                                           2. 54,141 
                                                                           3. 27,551 
      ------------------------------------  ----------------  ------------------------------ 
 (e)              Aggregated information     N/A 
 
                    *    Aggregated volume 
 
 
                    *    Price 
      ------------------------------------  ------------------------------------------------ 
 (f)   Date of the transaction               30 June 2020 
      ------------------------------------  ------------------------------------------------ 
 (g)   Place of the transaction              Outside a trading venue 
      ------------------------------------  ------------------------------------------------ 
 

Name of contact and telephone number for queries:

Chris Lee

Group Legal Director & Company Secretary

020 3107 5444

30 June 2020

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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June 30, 2020 11:52 ET (15:52 GMT)

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