Ei Group plc Director/PDMR Shareholding (0952T)

TIDMEIG

RNS Number : 0952T

Ei Group plc

18 March 2019

Ei Group plc (the "Company")

Director/PDMR Shareholding

Grant of Restricted Share Plan ("RSP") awards

The Company confirms that on 15 March 2019 it granted to each of its executive directors an award (structured as a nil-cost option) under the rules of the RSP. The awards, which have been granted in respect of the financial year beginning on 1 October 2018 are over the following numbers of shares in the Company ("Shares"):

 
Name/Position                         Number of Shares 
W S Townsend - Chief Executive 
 Officer                              219,320 
                                      ---------------- 
N R Smith - Chief Financial Officer   181,158 
                                      ---------------- 
 

"Underpin conditions" apply to each award and the Remuneration Committee has discretion to reduce vesting if the underpin is not met, as described in the Directors' Remuneration Report for the year ended 30 September 2018. The Remuneration Committee has adjusted the Free Cash Flow underpin to take account of the completion of the disposal of the commercial property portfolio on 14 March 2019.

 
Originally anticipated FCF underpin  Adjusted FCF underpin 
That the adjusted FCF balance        That the adjusted FCF balance 
 for the relevant financial year      for the relevant financial year 
 is greater than GBP121 million,      is greater than GBP113 million, 
 the adjusted FCF balance for the     the adjusted FCF balance for the 
 financial year ended 30 September    financial year ended 30 September 
 2018.                                2018 of GBP121 million as adjusted 
                                      to reflect the completion of the 
                                      disposal of the commercial property 
                                      portfolio. 
                                     ------------------------------------ 
 

Each award is divided into three tranches and will vest and be released (so that it may be exercised) as follows.

 
Tranche  Proportion of  Vesting date               Release date 
          Award 
   1       One third    Following announcement of  Following announcement 
                         the results for the year   of the results 
                         ending 30 September 2021   for the year ending 
                                                    30 September 2023 
-------  -------------  -------------------------  ---------------------- 
   2       One third    Following announcement of 
                         the results for the year 
                         ending 30 September 2022 
-------  -------------  -------------------------  ---------------------- 
   3       One third    Following announcement of 
                         the results for the year 
                         ending 30 September 2023 
-------  -------------  -------------------------  ---------------------- 
 

Awards will normally be exercisable from the date of release to the 10(th) anniversary of the grant date.

Total Shares held

The total number and percentage of Shares beneficially held by the executive directors is as follows:

 
Name/Position      Total holding     Name/Position     Total holding 
                    and % of issued                     and % of issued 
                    Shares                              Shares 
W S Townsend       1,375,000         N R Smith         565,000 
 Chief Executive                      Chief Financial 
  Officer           0.30%              Officer          0.12% 
                   ----------------  ----------------  ---------------- 
 

Public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Notification of Dealing Form

 
1    Details of the person discharging managerial responsibility/person 
      closely associated with them 
a)   Name                                         W S Townsend 
2    Reason for the notification 
a)   Position/status                              CEO 
b)   Initial Notification/Amendment               Initial Notification 
3    Details of the issuer 
a)   Name                                         Ei Group plc 
4    Details of the transactions 
a)   Description of the financial                 Ordinary Shares of 2.5 pence 
      instruments, type of instrument              each 
      Identification code 
                                                   GB00B1L8B624 
b)   Nature of transaction                        Grant of an award, structured 
                                                   as a nil cost option, under 
                                                   the Company's 2019 Restricted 
                                                   Share Plan 
c)   Price (s) and volume (s)                     Price (s)        Volume (s) 
                                                  0p               219,320 
 
d)   Aggregated information 
      Aggregated volume                             N/A 
      Price 
e)   Date of transaction                          15 March 2019 
f)   Place of transaction                         Outside a trading venue 
 

Notification of Dealing Form

 
1    Details of the person discharging managerial responsibility/person 
      closely associated with them 
a)   Name                                         N R Smith 
2    Reason for the notification 
a)   Position/status                              CFO 
b)   Initial Notification/Amendment               Initial Notification 
3    Details of the issuer 
a)   Name                                         Ei Group plc 
4    Details of the transactions 
a)   Description of the financial                 Ordinary Shares of 2.5 pence 
      instruments, type of instrument              each 
      Identification code 
                                                   GB00B1L8B624 
b)   Nature of transaction                        Grant of an award, structured 
                                                   as a nil cost option, under 
                                                   the Company's 2019 Restricted 
                                                   Share Plan 
c)   Price (s) and volume (s)                     Price (s)        Volume (s) 
                                                  0p               181,158 
 
d)   Aggregated information 
      Aggregated volume                             N/A 
      Price 
e)   Date of transaction                          15 March 2019 
f)   Place of transaction                         Outside a trading venue 
 

L A Togher

Company Secretary

0121 272 5223

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March 18, 2019 04:00 ET (08:00 GMT)