Speedy Hire PLC - Director/PDMR Shareholding
RNS Number : 8495B
Speedy Hire PLC
14 June 2021
 

Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

On 14 June 2021 awards (the "PSP Awards") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") were granted under the Company's 2014 Performance Share Plan ("PSP") to persons discharging managerial responsibilities as detailed below (the "PDMRs"). The number of Shares referred to below is the maximum available if the performance conditions are met in full. In the normal course of events, the PSP Awards will become exercisable as from the third anniversary of the grant, subject to each PDMR's continued service and the extent to which the following objective earnings per share ("EPS") and total shareholder return performance ("TSR") conditions have been satisfied:

 

·      50% of the PSP Awards will be subject to an EPS condition. 25% of this part of an award vests for EPS of 5.33 pence with full vesting of this part of an award for EPS of 5.89 pence for the financial year ending 31 March 2024. A sliding scale operates between these points; and

 

·      50% of the PSP Awards will be subject to a relative TSR condition based on the Group's performance against the constituents of the FTSE 250 (excluding investment trusts) measured over three years from 1 April 2021 to 31 March 2024.  25% of this part of an Award vests if the Company's TSR is ranked at the median of the TSRs of the comparator group, with full vesting of this part of an award for upper quartile performance. A sliding scale operates between these points.

 

In addition to the above, the Company's Remuneration Committee retains discretion to reduce the level of vesting of the PSP Awards in response to exceptional circumstances.

 

The PSP Awards were granted in the form of nil-cost options and remain subject to the rules of the PSP at all times including that awards to executive directors are subject to a two-year post vesting holding period (net of tax).

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Russell Down

2.

Reason for the notification

a)

Position / status

Chief Executive

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Speedy Hire Plc

b)

LEI

213800U78SIYAZDYXM61

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 financial instrument

Ordinary shares of 5 pence each


Identification code

GB0000163088

b)

Nature of the transaction

Grant of award under the Speedy Hire Plc Performance Share Plan 2014

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

551,385

d)

Aggregated information

-      Aggregated volume

-      Price

 

 

N/A single transaction

e)

Date of the transaction

2021-06-14

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Bunn

2.

Reason for the notification

a)

Position / status

Chief Financial Officer

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Speedy Hire Plc

b)

LEI

213800U78SIYAZDYXM61

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 financial instrument

Ordinary shares of 5 pence each


Identification code

GB0000163088

b)

Nature of the transaction

Grant of award under the Speedy Hire Plc Performance Share Plan 2014

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

458,031

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

 

N/A single transaction

e)

Date of the transaction

2021-06-14

f)

Place of the transaction

Outside a trading venue

 

Enquiries:

Neil Hunt

Company Secretary

Speedy Hire Plc

Telephone:  01942 720000

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHUSUVRAOUNAAR