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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ladbrokes Coral | LSE:LCL | London | Ordinary Share | GB00B0ZSH635 | ORD 28 1/3P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 173.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMLCL
RNS Number : 1356J
Ladbrokes Coral Group PLC
27 March 2018
LADBROKES CORAL GROUP PLC
Notification of Interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")
On 26 March 2018, the Court sanctioned a scheme of arrangement for the acquisition of the entire issued and to be issued share capital of Ladbrokes Coral Group plc (the "Company") by GVC Holdings PLC ("GVC" and the "Acquisition", respectively). As a result of this, outstanding awards(1) ("Awards") held by the PDMRs and directors under the Performance Share Plan, Deferred Bonus Plan and the 1983 Savings Related Share Option Scheme ("Sharesave") vested and were exercised.
Details of the total number of Shares vesting in respect of executive directors and PDMRs are as follows:
Hot Features
Premium
Number Number Balance
of Shares of Shares of Shares
subject deducted held
to Awards for Net
Vested Settlement
purposes
(i.e. proportion
of Award
Shares
which were
settled
in cash)
Name
Jim Mullen
Deferred Bonus Plan 191,121 89,908 101,383
Performance Share Plan 746,916 - 746,916
SAYE 3,960 3,960
-----------
Total 852,259
Paul Bowtell
Deferred Bonus Plan 29,593 13,909 15,684
Performance Share Plan 200,180 200,180
-----------
Total 215,864
Andy Hornby -
Performance Share Plan 190,513 190,513
When conditional share awards granted under the Deferred Bonus Plan vest, the directors and PDMRs will receive a combination of Shares and a cash payment from the Company that together have an aggregate combined value (on vesting) equal to the aggregate total number of Shares in the Company that would have been acquired were it not for the award being part settled in cash. The cash sum will be used to satisfy these individuals' tax liability arising on vesting of these conditional share awards under the Deferred Bonus Plan.
The above "net settlement" approach did not apply to restricted share awards granted under the Deferred Bonus Plan over 29,543 Shares to Jim Mullen. Instead, the trustee of the Ladbrokes Coral Group plc Share Ownership Trust will purchase sufficient Shares back from Jim Mullen in an off-market transaction at a price equal to the closing middle market quotation of the Shares on the Court sanction date. The Share sale by Jim Mullen will be used to fund the tax liability which arises on vesting of his restricted share awards
In respect of the Performance Share Plan, no Shares are to be sold in order to meet the tax liability as there is insufficient time to sell such Shares in the market and the Acquisition will complete shortly after vesting on 28 March 2018. Shares in GVC and cash, which form part of the consideration under the Acquisition and which will be issued and transferred, respectively, on completion of the Acquisition, will instead be sold to meet the tax liability of the individuals arising on the vesting.
This notification is made in accordance with DTR 3.1.4R(1)(a) of the FCA's Disclosure Guidance and Transparency Rules.
The attached notifications made in accordance with the EU Market Abuse Regulation, provide further information.
Geoff Mason
Company Secretary
Notes
1 The share awards were made in respect of the Company's ordinary shares of 281/3 pence per share ("Shares").
Ladbrokes Coral Group plc LEI: 213800P7FJOPCV4H3J04
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------
a) Name Jim Mullen
--- ------------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------------------- -------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------
a) Name Ladbrokes Coral Group plc
--- ------------------------------- -------------------------------
b) LEI 213800P7FJOPCV4H3J04
--- ------------------------------- -------------------------------
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 281/3 pence
the financial each ("Shares")
instrument, type
of instrument
Identification GB00B0ZSH635
code
--- ------------------------------- -------------------------------
b) Nature of the Vesting of Share Awards
transaction
--- ------------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 848,299
GBP1.01 3,960
852,259
---------- ----------
--- ------------------------------- -------------------------------
d) Aggregated information
* Aggregated volume 852,259
GBP3,999.60
* Price
--- ------------------------------- -------------------------------
e) Date of the transaction 2018-03-26
--- ------------------------------- -------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------
a) Name Paul Bowtell
--- ------------------------------- -------------------------------
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 Ladbrokes Coral Group plc
--- ------------------------------- -------------------------------
b) LEI 213800P7FJOPCV4H3J04
--- ------------------------------- -------------------------------
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 281/3 pence
the financial each ("Shares")
instrument, type
of instrument
Identification GB00B0ZSH635
code
--- ------------------------------- -------------------------------
b) Nature of the Vesting of Share Awards
transaction
--- ------------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
nil 215,864
---------- ----------
--- ------------------------------- -------------------------------
d) Aggregated information
* Aggregated volume 215,864
N/A
* Price
--- ------------------------------- -------------------------------
e) Date of the transaction 2018-03-26
--- ------------------------------- -------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -------------------------------
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------
a) Name Jim Mullen
--- ------------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------------------- -------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------
a) Name Ladbrokes Coral Group plc
--- ------------------------------- -------------------------------
b) LEI 213800P7FJOPCV4H3J04
--- ------------------------------- -------------------------------
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 281/3 pence
the financial each ("Shares")
instrument, type
of instrument
Identification GB00B0ZSH635
code
--- ------------------------------- -------------------------------
b) Nature of the Sale of Shares
transaction
--- ------------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
GBP1.69 13,886
---------- ----------
--- ------------------------------- -------------------------------
d) Aggregated information
* Aggregated volume
* Price
--- ------------------------------- -------------------------------
e) Date of the transaction 2018-03-26
--- ------------------------------- -------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------
a) Name Andy Hornby
--- ------------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status Chief Operating Officer
--- ------------------------------- -------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------
a) Name Ladbrokes Coral Group plc
--- ------------------------------- -------------------------------
b) LEI 213800P7FJOPCV4H3J04
--- ------------------------------- -------------------------------
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 281/3 pence
the financial each ("Shares")
instrument, type
of instrument
Identification GB00B0ZSH635
code
--- ------------------------------- -------------------------------
b) Nature of the Vesting of Share Awards
transaction
--- ------------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
nil 190,513
---------- ----------
--- ------------------------------- -------------------------------
d) Aggregated information
* Aggregated volume 190,513
N/A
* Price
--- ------------------------------- -------------------------------
e) Date of the transaction 2018-03-26
--- ------------------------------- -------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHEDLFLVXFLBBD
(END) Dow Jones Newswires
March 27, 2018 11:28 ET (15:28 GMT)
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