Savills PLC Director/PDMR Shareholding (5981R)
June 30 2020 - 10:52AM
UK Regulatory
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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