Reach PLC Director/PDMR Shareholding (1705W)

TIDMRCH

RNS Number : 1705W

Reach PLC

14 April 2023

14 April 2023

Reach plc (the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

Grant of 2023 Awards under the Reach Long Term Incentive Plan ("LTIP")

On 13 April 2023, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors and PDMRs under the LTIP and the following additional terms.

The number of shares under the LTIP options has been calculated using the three-month average share price to the date of grant of GBP0.848 per share.

Vesting of the LTIP options granted in 2023 are subject to the achievement of performance conditions over a three-year period, as set out on page 136 in the Company's 2022 Annual Report.

Vested LTIP options held by a Director will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability).

The notifications below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Jim Mullen 
     ---------------------------  -------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status              Chief Executive Officer 
     ---------------------------  -------------------------------------- 
 b)   Initial notification         Initial Notification 
       /Amendment 
     ---------------------------  -------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                         Reach plc 
     ---------------------------  -------------------------------------- 
 b)   LEI                          213800GNI5XF3XOATR61 
     ---------------------------  -------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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           Ordinary 10p Shares 
       financial instrument, 
       type of instrument 
 
      Identification code          GB0009039941 
 
 b)   Nature of the transaction    Grant of nil-cost share options under 
                                    the Reach Long Term Incentive Plan 
     ---------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)         Price(s)    Volume(s) 
                                      GBPnil      1,040,970 
                                                 ---------- 
 d)   Aggregated information 
 
      - Aggregated volume          N/A - single transaction 
 
      - Price 
 
 e)   Date of the transaction      2023-04-13 
     ---------------------------  -------------------------------------- 
 f)   Place of the transaction     Outside a trading venue 
     ---------------------------  -------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Darren Fisher 
     ---------------------------  -------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status              Chief Financial Officer 
     ---------------------------  -------------------------------------- 
 b)   Initial notification         Initial Notification 
       /Amendment 
     ---------------------------  -------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                         Reach plc 
     ---------------------------  -------------------------------------- 
 b)   LEI                          213800GNI5XF3XOATR61 
     ---------------------------  -------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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           Ordinary 10p Shares 
       financial instrument, 
       type of instrument 
 
      Identification code          GB0009039941 
 
 b)   Nature of the transaction    Grant of nil-cost share options under 
                                    the Reach Long Term Incentive Plan 
     ---------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)         Price(s)    Volume(s) 
                                      GBPnil      582,708 
                                                 ---------- 
 d)   Aggregated information 
 
      - Aggregated volume          N/A - single transaction 
 
      - Price 
 
 e)   Date of the transaction      2023-04-13 
     ---------------------------  -------------------------------------- 
 f)   Place of the transaction      Outside a trading venue 
     ---------------------------  -------------------------------------- 
 

Enquiries

 
 
                                                   020 7293 
Reach                                               3000 
Lorraine Clover, Group Company Secretary 
                                                   020 7353 
Teneo                                               4200 
Giles Kernick 
 
 
LEI: 213800GNI5XF3XOATR61 
 Classification: 2.2 Information disclosed under 
 article 19 of the Market Abuse Regulation. 
 

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April 14, 2023 06:00 ET (10:00 GMT)