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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Smiths News Plc | AQSE:SNWS.GB | Aquis Stock Exchange | Ordinary Share | GB00B17WCR61 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 64.50 | 62.00 | 67.00 | 64.50 | 63.55 | 64.50 | 10,687 | 16:29:51 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Dec 2022 to Dec 2024
TIDMSNWS
RNS Number : 4631O
Smiths News PLC
31 January 2023
Smiths News plc
Director/PDMR Shareholding
Smiths News plc (the "Company") announces that it has been notified of the following transactions in the Company's ordinary 5p shares undertaken by directors / persons discharging managerial responsibility:
Long Term Incentive Plan FY2023 - 2025 ('LTIP')
The following awards were granted as conditional awards, where a participant may receive an allocation of shares following the normal vesting date, subject to the extent to which the applicable performance conditions have been satisfied at the end of the three-year performance period and their continuing employment at that time.
As indicated in the Company's Directors' Remuneration Report (published as part of the Company's 2022 Annual Report and Accounts on 21 December 2022), the Company confirms that the vesting of the LTIP award will depend on the achievement of the following performance conditions:
Hot Features
Premium
Free Cash Flow Relative TSR vs
(FCF) in Final FTSE Small Cap Index
Year only (hence (excluding investment
FY2025) trusts) over the
three year performance
period
Performance 28 August 2022 to 30 August 2025 Proportion
Period exercisable
------------------------------------------------
Performance Below GBP36.6m Below Median Zero
Targets
-------------------- -------------------------- -------------
GBP36.6m Median 20%
-------------------- ---------------------------------------- -------------
Between GBP36.6m Between Median and
and GBP41.2m Upper Quartile 20%-100%
-------------------- ---------------------------------------- -------------
GBP41.2m or more Upper Quartile 100%
-------------------- ---------------------------------------- -------------
The Company has considered carefully the level of target performance and the corresponding performance range for each measure to ensure that they are sufficiently stretching and promote long-term sustainable success.
The vested shares will be subject to a holding period of two years from the vesting date and subject to customary malus and clawback events. The value of any dividends accrued, in the form of dividend equivalents, will normally be paid in shares at the end of period (third anniversary) based on the number of vested shares and will also be subject to the holding period of two years from the vesting date.
No consideration was paid for the grant of the award. For the purposes of this award, the grant was made at a share price of 50.66p.
Name of Participant Form of Award Normal Vesting Date Maximum
Number of
Shares
The day following the end
of the performance period
on which the performance
Conditional conditions have been assessed
Jonathan Bunting award and notified to the Participant 954,196
--------------- ---------------------------------- -----------
The day following the end
of the performance period
on which the performance
Conditional conditions have been assessed
Paul Baker award and notified to the Participant 621,620
--------------- ---------------------------------- -----------
As noted in the Company's Directors' Remuneration Report, the LTIP grant levels are equivalent to 100% of base salary at grant.
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Jonathan Bunting
--------------------------------- ----------------------------------------------
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 Smiths News plc
--------------------------------- ----------------------------------------------
b) LEI 2138004033ONVOOQXB02
--------------------------------- ----------------------------------------------
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 5p shares
financial instrument,
type of instrument
Identification code ISIN: GB00B17WCR61
b) Nature of the transaction Grant of 954,196 nil cost options
pursuant to the Long Term Incentive
Plan
--------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------------- --------------
Price(s) Volume(s)
--------------------------- --------------
Nil consideration 954,196
------------------------------------------------------------------ --------------
d) Aggregated information n/a single transaction
- Aggregated volume
- Price
e) Date of the transaction 30 January 2023
--------------------------------- ----------------------------------------------
f) Place of the transaction Grant of the options took place outside
of a trading venue
--------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Paul Baker
--------------------------------- ----------------------------------------------
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 Smiths News plc
--------------------------------- ----------------------------------------------
b) LEI 2138004033ONVOOQXB02
--------------------------------- ----------------------------------------------
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 5p shares
financial instrument,
type of instrument
Identification code ISIN: GB00B17WCR61
b) Nature of the transaction Grant of 621,620 nil cost options
pursuant to the Long Term Incentive
Plan
--------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------------- --------------
Price(s) Volume(s)
--------------------------- --------------
Nil consideration 621,620
------------------------------------------------------------------ --------------
d) Aggregated information n/a single transaction
- Aggregated volume
- Price
e) Date of the transaction 30 January 2023
--------------------------------- ----------------------------------------------
f) Place of the transaction Grant of the options took place outside
of a trading venue
--------------------------------- ----------------------------------------------
Karen Mills
Deputy Company Secretary
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
DSHUAVSROUUAOAR
(END) Dow Jones Newswires
January 31, 2023 09:59 ET (14:59 GMT)
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