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Reach NEX:RCH.GB NEX Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 66.00p 62.00p 70.00p - - - 0 01:00:00

Reach PLC Director/PDMR Shareholding

12/03/2019 1:05pm

UK Regulatory (RNS & others)


Reach (NEX:RCH.GB)
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RNS Number : 6310S

Reach PLC

12 March 2019

Reach plc

12 March 2019

Reach plc (the "Company")

Grant of Awards under the Company's Restricted Share Plan ("RSP")

The independent trustee (the "Trustee") of the Company's Employees' Benefit Trust based in Jersey (the "Trust") further notified the Company that on 11 March 2019 it granted Restricted Share awards under the RSP to Simon Fuller, a Person Discharging Managerial Responsibility ("PDMR") within the Company, in the amounts set out below.

These awards represent a partial buy-out of awards forfeited by Simon Fuller on his joining the Company. Under the terms of the RSP, the executive director is the beneficial owner of the Restricted Shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of a three year vesting period (the "Restricted Period").

During the Restricted Period, the executive director may not sell or otherwise dispose of the Restricted Shares, cannot vote the restricted shares and will not receive any dividends on the Restricted Shares.

During the Restricted Period, the Restricted Shares will be subject to the malus provisions of the RSP rules (the "Rules") which would allow for forfeiture of all of the shares or a reduction in the number released in circumstances as set out in the Rules. An additional award of Restricted Shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.

The base price for calculating the level of award was 64.6p, the average market closing price between 6 March 2019 and 8 March 2019.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                     Simon Fuller 
      ---------------------------------------  --------------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------------- 
 a)    Position/status                          Chief Financial Officer and Company 
                                                 Secretary 
      ---------------------------------------  --------------------------------------------- 
 b)    Initial notification                     Initial Notification 
        /Amendment 
      ---------------------------------------  --------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------------- 
 a)    Name                                     Reach plc 
      ---------------------------------------  --------------------------------------------- 
 b)    LEI                                      213800GNI5XF3XOATR61 
      ---------------------------------------  --------------------------------------------- 
 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                       Ordinary 10p Shares 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB0009039941 
 
 b)    Nature of the transaction                Grant of an award of restricted shares 
                                                 under the Restricted Share Plan 
      ---------------------------------------  --------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                --------------------  -------------------- 
                                                 Price(s)              Volume(s) 
                                                --------------------  -------------------- 
    GBP0.646                                                           77,399 
   -----------------------------------------------------------------  -------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      N/A 
 
  - Price                                  N/A 
 
 e)    Date of the transaction                  12 March 2019 
      ---------------------------------------  --------------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  --------------------------------------------- 
 

Enquiries

 
   Reach plc 
   Simon Fox, Chief Executive 
    Simon Fuller, Chief Financial Officer and Company 
    Secretary                                                 020 7293 3553 
 
     Brunswick 
   Nick Cosgrove, Partner                                     020 7404 5959 
   Will Medvei, Director 
 
 

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.

END

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March 12, 2019 09:05 ET (13:05 GMT)

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