McCarthy & Stone PLC Director/PDMR Shareholding (0219X)

TIDMMCS

RNS Number : 0219X

McCarthy & Stone PLC

20 November 2017

20 November 2017

McCarthy & Stone plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the notification obligations under article 19.3 of the Market Abuse Regulation, the Company announces the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the ordinary shares of 8 pence nominal value in the Company ("Shares").

McCarthy & Stone plc Long Term Incentive Plan

On 17 November 2017, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as set out below.

The awards were made as nil-cost options and the number of shares over which each nil-cost option was awarded was calculated by reference to the closing price of the Shares as derived from the Daily Official List of the London Stock Exchange on 16 November 2017. These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR"), Earnings per Share ("EPS") and Return on Capital Employed ("ROCE") targets as measured over a three-year performance period.

The performance conditions and targets for this LTIP grant are:

-- Relative TSR measured against two groups equally weighted (housebuilder peer index and FTSE 250 constituents) - Threshold: equal to housebuilder index/ median of FTSE 250, Maximum: housebuilder index + 7.5% per annum/upper quartile of FTSE 250;

   --             FY20 ROCE - Threshold: 20%, Maximum: 25%; 
   --             FY20 EPS - Threshold:  21.8p, Maximum: 27.8p. 

The normal date of vesting for these nil-cost options will be 17 November 2020 and the last date for exercise will be 17 November 2027, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Gary Day 
---  --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Land & Planning Director 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/Amendment                            Initial notification 
---  --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      McCarthy & Stone plc 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800CEJ4OQ5YPU8Z37 
---  --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary Shares of 8 pence nominal value each 
      instrument 
      Identification code                                        GB00BYNVD082 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Grant of nil-cost option over Ordinary Shares under 
                                                                the McCarthy & Stone plc Long Term Incentive 
                                                                Plan 
---  --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    Price(s)   Volume(s) 
                                                                 GBP0.00    123,853 
---  --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume                 123,853 
       -  Price 
                                                                  GBP0.00 
---  --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2017-11-17 
---  --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Outside a trading venue 
---  --------------------------------------------------------  ------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Patrick Hole 
---  --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Group General Counsel and Company Secretary 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/Amendment                            Initial notification 
---  --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      McCarthy & Stone plc 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800CEJ4OQ5YPU8Z37 
---  --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary Shares of 8 pence nominal value each 
      instrument 
      Identification code                                        GB00BYNVD082 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Grant of nil-cost option over Ordinary Shares under 
                                                                the McCarthy & Stone plc Long Term Incentive 
                                                                Plan 
---  --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    Price(s)   Volume(s) 
                                                                 GBP0.00    43,333 
---  --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume                 43,333 
       -  Price 
                                                                  GBP0.00 
---  --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2017-11-17 
---  --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Outside a trading venue 
---  --------------------------------------------------------  ------------------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 20, 2017 11:45 ET (16:45 GMT)