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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| LSL Property Services Plc | AQSE:LSL.GB | Aquis Stock Exchange | Ordinary Share | GB00B1G5HX72 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 287.50 | 275.00 | 300.00 | 287.50 | 287.50 | 287.50 | 0.00 | 06:48:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Nov 2022 to Nov 2024
TIDMLSL
RNS Number : 8007S
LSL Property Services PLC
08 November 2023
LSL Property Services plc ("LSL")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") OR CONNECTED PERSONS
In accordance with DTR 3, LSL was notified on 7 November 2023 that awards were, on 7 November 2023, granted to Directors and PDMRs pursuant to LSL's Long Term Incentive Plan ("LTIP") as follows:
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Name of Director/PDMR Number of LSL Property Services
plc ordinary shares of 0.2p
each awarded
David Stewart, Group Chief Executive
Officer 194,613
Adam Castleton, Group Chief Financial
Officer 131,402
Steve Goodall, Managing Director
e.surv (PDMR) 46,036
Paul Hardy, Managing Director Estate
Agency (PDMR) 40,650
The LTIP awards are nil-cost options that will normally become exercisable on 29(th) March 2026 for PDMRs and 6(th) November 2026 for the Executive Directors, subject to continuous employment and satisfaction of the performance conditions detailed in the table below.
Executive Director LTIP awards
In the Directors' Remuneration Report ("DRR") included in the Annual Report and Accounts 2022, we explained that during 2023 we would operate an LTIP for the Executive Directors that was broadly similar to that operated in 2022. We also stated that we intended to grant an award of 125% of basic salary to the Executive Directors.
We normally grant our LTIP awards following the announcement of our preliminary results, however, due to the impact of UK MAR around financial reporting and the progression of a number of strategic projects, we were unable to grant the awards in accordance with our normal timetable and therefore the grant of the 2023 LTIP awards has been delayed and are now being granted.
Considering the delay in granting the awards, the Remuneration Committee has reviewed the adjusted EPS target range taking into account the change in economic outlook and market expectations since the beginning of the year. As a result, the Remuneration Committee has set an adjusted EPS target range for this grant that is lower than the range set out in the 2022 DRR.
Noting the lower target range and taking into account the share price determining the number of shares subject to the 2023 award compared to the 2022 award, the LTIP award level for the Executive Directors is reduced from the normal award level of 125% of salary to 100% of salary.
Further details relating to the awards will be included in the DRR to be included in the Annual Report and Accounts 2023 which will be published in 2024.
2023 LTIP performance conditions table
Percentage Performance Performance Threshold Proportion Performance
of award period measure performance vesting for maximum
subject (no vesting for threshold (100%) vesting
to condition below threshold) performance
3 years Adjusted Basic
ending 31 earnings per
December share ("EPS")
50% 2025 in 2026 16.0 pence 25% 24.0 pence
------------ ------------------- ------------------ --------------- ----------------
Total Shareholder
Return ("TSR")
ranked against
the FTSE Small
Cap, excluding
50% investment trusts Median 25% Upper quartile
------------ ------------------- ------------------ --------------- ----------------
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Details of the person
1 discharging managerial
responsibilities/ person
closely associated
a) Name David Stewart
------------------------------- -------------------------------------
Reason for notification
2
------------------------------- -------------------------------------
a) Position/Status Group Chief Executive Officer
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -------------------------------------
Details of the issuer,
3 emission allowance market
participation, auction
platform, auctioneer
or auction monitor
------------------------------- -------------------------------------
a) Name LSL Property Services plc
------------------------------- -------------------------------------
b) LEI 213800T4VM5VR3C7S706
------------------------------- -------------------------------------
Details of the transaction(s):
4 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 Ordinary shares of 0.2p each in LSL
instrument, type of Property Services plc
instrument
GB00B1G5HX72
Identification code
------------------------------- -------------------------------------
b) Nature of transaction Nil-cost option award made pursuant
to LSL's 2023 LTIP.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBPnil 194,613
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction.
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 7 November 2023
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
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 Adam Castleton
------------------------------- -------------------------------------
2 Reason for notification
------------------------------- -------------------------------------
a) Position/Status Group Chief Financial Officer
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -------------------------------------
3 Details of the issuer,
emission allowance market
participation, auction
platform, auctioneer
or auction monitor
------------------------------- -------------------------------------
a) Name LSL Property Services plc
------------------------------- -------------------------------------
b) LEI 213800T4VM5VR3C7S706
------------------------------- -------------------------------------
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 Ordinary shares of 0.2p each in LSL
instrument, type of Property Services plc
instrument
GB00B1G5HX72
Identification code
------------------------------- -------------------------------------
b) Nature of transaction Nil-cost option award made pursuant
to LSL's 2023 LTIP.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBPnil 131,402
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction.
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 7 November 2023
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
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 Steve Goodall
----------------------------------------- ---------------------------
2 Reason for notification
----------------------------------------- ---------------------------
a) Position/Status PDMR
----------------------------------------- ---------------------------
b) Initial notification/Amendment Initial notification
----------------------------------------- ---------------------------
3 Details of the issuer, emission
allowance market participation,
auction platform, auctioneer or
auction monitor
----------------------------------------- ---------------------------
a) Name LSL Property Services
plc
----------------------------------------- ---------------------------
b) LEI 213800T4VM5VR3C7S706
----------------------------------------- ---------------------------
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
type of instrument 0.2p each in LSL Property
Services plc
Identification code
GB00B1G5HX72
----------------------------------------- ---------------------------
b) Nature of transaction Nil-cost option award
made pursuant to LSL's
2023 LTIP.
----------------------------------------- ---------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBPnil 46,036
----------
----------------------------------------- ---------------------------
d) Aggregated information Not applicable - single
* Aggregated volume transaction.
* Price
----------------------------------------- ---------------------------
e) Date of the transaction 7 November 2023
----------------------------------------- ---------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ---------------------------
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 Paul Hardy
----------------------------------------- ---------------------------
2 Reason for notification
----------------------------------------- ---------------------------
a) Position/Status PDMR
----------------------------------------- ---------------------------
b) Initial notification/Amendment Initial notification
----------------------------------------- ---------------------------
3 Details of the issuer, emission
allowance market participation,
auction platform, auctioneer or
auction monitor
----------------------------------------- ---------------------------
a) Name LSL Property Services
plc
----------------------------------------- ---------------------------
b) LEI 213800T4VM5VR3C7S706
----------------------------------------- ---------------------------
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
type of instrument 0.2p each in LSL Property
Services plc
Identification code
GB00B1G5HX72
----------------------------------------- ---------------------------
b) Nature of transaction Nil-cost option award
made pursuant to LSL's
2023 LTIP.
----------------------------------------- ---------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBPnil 40,650
----------
----------------------------------------- ---------------------------
d) Aggregated information Not applicable - single
* Aggregated volume transaction.
* Price
----------------------------------------- ---------------------------
e) Date of the transaction 7 November 2023
----------------------------------------- ---------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ---------------------------
For further information, please contact:
Sapna B FitzGerald, Company Secretary
Investorrelations@lslps.co.uk
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END
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(END) Dow Jones Newswires
November 08, 2023 05:30 ET (10:30 GMT)
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