Vectura Group plc Director/PDMR Shareholding (4249G)

TIDMVEC

RNS Number : 4249G

Vectura Group plc

26 May 2017

VECTURA GROUP PLC

DIRECTOR/PDMR SHARE DEALING

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them (in accordance with the Market Abuse Regulations)

Chippenham, UK, 26 May 2017: Vectura Group plc (LSE: VEC; "Vectura" or "the Company") confirms that on 25 May 2017, the following Persons Discharging Managerial responsibility ("PDMRs") were granted Share Awards over ordinary shares of 0.025 pence each in Vectura Group plc under the Vectura 2015 Long Term Incentive Plan, as set out below:

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------- 
 a)   Name                             Andrew Derodra 
---  -------------------------------  ------------------------------------ 
 2    Reason for Notification 
---  --------------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
---  -------------------------------  ------------------------------------ 
 b)   Initial notification/Amendment   Initial Announcement 
---  -------------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------- 
 a)   Name                             Vectura Group plc 
---  -------------------------------  ------------------------------------ 
 b)   LEI 
---  -------------------------------  ------------------------------------ 
 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 0.025 pence 
       the financial instrument,        each in Vectura Group plc 
       type of instrument               GB00B01D1K48 
       Identification 
       code 
---  -------------------------------  ------------------------------------ 
 b)   Nature of the transaction        Grant of an award under the 
                                        Company's Long Term Incentive 
                                        Plan as a nil exercise price 
                                        option. Vesting is subject 
                                        to (i) performance over 3 
                                        financial years commencing 
                                        with the year of grant and 
                                        (ii) continued service and 
                                        is normally 3 years after 
                                        grant. Half of the award will 
                                        vest based on relative total 
                                        shareholder return (share 
                                        price growth assuming reinvested 
                                        dividends) ranking against 
                                        FTSE250 constituents (excluding 
                                        financial services and real 
                                        estate sector companies), 
                                        15% vesting at median and 
                                        100% at upper quartile. The 
                                        other half will vest by reference 
                                        to achievement of cumulative 
                                        adjusted Earnings Before Interest 
                                        Tax Depreciation and Amortisation 
                                        ("EBITDA") targets, 15% vesting 
                                        at threshold and 100% for 
                                        achieving stretching performance. 
                                        At the present time the EBITDA 
                                        targets are commercially sensitive 
                                        but will be published shortly 
                                        after we have updated the 
                                        market with clarity on the 
                                        regulatory status of VR315 
                                        following the dialogue of 
                                        ourselves and our partners, 
                                        Hikma, with the FDA. 
---  -------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)    Volume(s) 
                                        ----------  ---------- 
                                         Nil         537,566 
                                        ----------  ---------- 
---  -------------------------------  ------------------------------------ 
 d)        Aggregated information      Not applicable - single transaction 
             *    Aggregated volume 
 
 
             *    Price 
---  -------------------------------  ------------------------------------ 
 e)   Date of the transaction          25 May 2017 
---  -------------------------------  ------------------------------------ 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  ------------------------------------ 
 

Enquiries:

   John Murphy, Company Secretary  Tel:       + 44 (0)207 881 0524 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 26, 2017 10:13 ET (14:13 GMT)