Redde Plc Performance share plan grant of awards

 
TIDMREDD 
 
8 September 2017 
 
                                   Redde plc 
                                  ("Company") 
 
             Grant of Awards under the 2016 Performance Share Plan 
 
 
On 8 September 2017, the Remuneration Committee made awards of nil-paid options 
over ordinary shares of 0.1 pence each in the capital of the Company under the 
2016 Performance Share Plan to the following executive directors: 
 
Name of Director   No. of Award    Structure of Award           Exercise Price 
                   Shares 
 
Martin Ward        228,287         Nominal Cost Option Award    0.1 pence 
 
Stephen Oakley     153,470         Nominal Cost Option Award    0.1 pence 
 
 
The above awards are subject to vesting criteria relating to the achievement of 
earnings per share ("EPS") and total shareholder return ("TSR") targets over a 
three financial year performance period. These awards will normally become 
exercisable as nominal cost options subject to continued employment and to the 
extent the TSR and EPS targets are achieved over the three financial year 
performance period. 
 
Up to one half of these awards will vest in full if the Company achieves a 
basic adjusted EPS of 14.64 pence in the financial year ended 30 June 2020 with 
a straight-line reduction to NIL if EPS is below 12.95 pence. Up to one half of 
these awards will vest in full if the Company's TSR performance over the same 
period at least equals the upper quartile of the AIM 100 index with a straight 
line reduction to NIL if performance is below the median. 
 
Once vested, the awards shall ordinarily remain exercisable until the tenth 
anniversary of the grant of the awards. No consideration was paid for the grant 
of the awards but the nominal cost (option price) is due on the exercise of the 
awards. 
 
The notifications below, made in accordance with the requirements of the Market 
Abuse Regulation, provide further detail. 
 
 
 
   Notification and public disclosure of transactions by persons discharging 
     managerial responsibilities and persons closely associated with them 
 
1   Details  of  the  person  discharging  managerial  responsibilities  / 
     person  closely associated 
 
a)  Name                    Martin Ward 
 
2   Reason for the notification 
 
a)  Position/status         Director 
 
b)  Initial notification/   Initial notification 
    Amendment 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name                    Redde plc 
 
b)  LEI                     21380063LFNLZM7AYT28 
 
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      Options over ordinary shares of 0.1 pence each 
    financial instrument, 
    type of instrument 
 
                            GB00BLWFOR63 
    Identification code 
 
b)  Nature of the           Grant of PSP options 
    transaction 
 
c)  Price(s) and volume(s)  Price(s)                 Volume(s) 
 
                            -                        228,287 
 
d)  Aggregated information  N/A 
 
 
 
    -Aggregated volume 
 
 
e)  Date of the transaction 8 September 2017 
 
f)  Place of the            Outside of trading venue 
    transaction 
 
 
 
1   Details  of  the  person  discharging  managerial  responsibilities  / 
     person  closely associated 
 
a)  Name                    Stephen Oakley 
 
2   Reason for the notification 
 
a)  Position/status         Director 
 
b)  Initial notification/   Initial notification 
    Amendment 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name                    Redde plc 
 
b)  LEI                     21380063LFNLZM7AYT28 
 
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      Options over ordinary shares of 0.1 pence each 
    financial instrument, 
    type of instrument 
 
                            GB00BLWFOR63 
    Identification code 
 
b)  Nature of the           Grant of PSP options 
    transaction 
 
c)  Price(s) and volume(s)  Price(s)                 Volume(s) 
 
                            -                        153,470 
 
d)  Aggregated information  N/A 
 
 
 
    -Aggregated volume 
 
 
e)  Date of the transaction 8 September 2017 
 
f)  Place of the            Outside of trading venue 
    transaction 
 
For further information contact: 
 
Redde plc 
01225 321134 
Martin Ward, Chief Executive Officer 
Stephen Oakley, Chief Financial Officer 
 
Cenkos Securities plc (Nominated Adviser and Joint Broker)          0207 397 
8900 
Elizabeth Bowman 
 
N+1 Singer Capital Markets Limited (Joint Broker)                      0207 496 
3000 
Mark Taylor 
 
Square1 Consulting 
        0207 929 5599 
David Bick 
 
 
 
END 
 

(END) Dow Jones Newswires

September 08, 2017 10:28 ET (14:28 GMT)