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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Inmarsat Plc | LSE:ISAT | London | Ordinary Share | GB00B09LSH68 | ORD EUR0.0005 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 544.40 | 544.40 | 545.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMISAT
RNS Number : 7497H
Inmarsat PLC
14 March 2018
14 March 2018
Inmarsat plc: Director share dealings
Share Vesting and 2018 Awards
In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out at the end of this announcement.
Vesting of Shares under Bonus Share Awards (BSA)
Three tranches of ordinary shares of EUR0.0005 in Inmarsat plc under the Bonus Share Award have vested from awards made in March 2014, March 2015, and March 2016, for Mr Pearce and Mr Bates; and one tranche of shares from the award in 2014 vested for Mr Sukawaty. Mr Sukawaty received his share award while he held an executive position in the Company.
The BSA is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions become payable by the individual.
The price at which shares were sold on 12 March 2018 was GBP4.1692 per share. Where shares have been retained they will be added to the existing number of ordinary shares for the relevant individual.
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Name Number of Number of shares Number Total
shares vesting sold on 12 of shares shareholding
including March 2018 retained
reinvested to cover tax
dividends / NI
----------------- ---------------- ----------------- ----------- --------------
Andrew Sukawaty 50,741 23,909 26,832 1,199,184
----------------- ---------------- ----------------- ----------- --------------
Rupert Pearce 109,934 51,799 58,135 978,758
----------------- ---------------- ----------------- ----------- --------------
Tony Bates 81,355 38,333 43,022 85,680
----------------- ---------------- ----------------- ----------- --------------
2017 Bonus Share Award (BSA)
The BSA allocation made in March 2017 based on the mid-market closing price of GBP7.615 from 9 March 2017 has been tested and, using the new target payout calculation, 81% of the award will vest in equal tranches in March 2019, March 2020 and March 2021, subject to continued employment. The confirmed number of shares awarded is:
Name Number of BSA Number of 2017
share allocations BSA shares confirmed
made under BSA on 12 March
on 10 March 2018
2017
--------------- ------------------- ----------------------
Rupert Pearce 140,182 113,547
--------------- ------------------- ----------------------
Tony Bates 108,647 88,004
--------------- ------------------- ----------------------
2018 Bonus Share Award (BSA)
On 12 March 2018, BSA award allocations were made to the two executive directors and nominally converted into shares immediately using the mid-market closing price of GBP4.327 from 9 March 2018.
Name Number of BSA
share allocations
made under BSA
on 12 March
2018
--------------- -------------------
Rupert Pearce 251,655
--------------- -------------------
Tony Bates 195,020
--------------- -------------------
The level of award will not be confirmed until the results for 2018 have been determined in March 2019 and may be lower (but not higher) than the initial award. The shares will vest in equal tranches in March 2020, 2021 and 2022, subject to continued employment. The performance targets are revenue growth (33% of the award) and EBITDA growth (67% of the award) for the 2018 financial year.
2018 Performance Share Award (PSA)
The following contingent awards were also made to the two executive directors under the Performance Share Award (PSA) on 12 March 2018 using the mid-market closing price of GBP4.327 from 9 March 2018.
Name Number of ordinary
shares awarded
under PSA on 12
March 2018
--------------- -------------------
Rupert Pearce 251,655
--------------- -------------------
Tony Bates 195,020
--------------- -------------------
The PSA awards for 2018 will vest after three years based upon the following three performance conditions, measured over the three years to 31 December 2020:
1. Three-year TSR vs. FTSE 50-150 (excluding investment trusts). Weighting: 30% of maximum award. Below median results in nil vesting; median equates to 30% vesting; and upper quarter results in 100% vesting. There is straight-line vesting between median and upper quartile.
2. Three-year EBITDA growth p.a. (excluding Ligado). Weighting: 30% of maximum award. The performance targets: Less than 3%: nil vesting; 3%: 0% vesting; and 7%: 100% vesting (straight-line vesting applies between 3% and 7%).
3. Strategic objectives. Weighting: 40% of maximum award. Key performance targets:
- Capture the maximum number of broadband platforms for our high speed GX services and EAN aviation service
- Reposition L-band for new growth by focusing on additional targeted market opportunities - Establish our Digital Platform & Business to drive new services and product innovation
- Transform our operating environment to be more efficient in service delivery for customers and efficiency for all stakeholders
- Maximise the overall contribution from an ongoing key strategic contract
- Create a high-performance organisation which enhances our employee value proposition and encourages a high-performance culture
Alison Horrocks
Company Secretary
1 Details of the person discharging managerial
responsibilities / person closely associated
----- ----------------------------------------------------------------
a) Name Andrew Sukawaty
----- -------------------------- ------------------------------------
2 Reason for the notification
----- ----------------------------------------------------------------
a) Position/status Chairman
----- -------------------------- ------------------------------------
b) Initial notification Initial
/Amendment
----- -------------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ----------------------------------------------------------------
a) Name Inmarsat plc
----- -------------------------- ------------------------------------
b) LEI 213800QU7UAKT6KMRF41
----- -------------------------- ------------------------------------
4.1 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the BSA 2014 share awards vesting
transaction including reinvested dividends
----- -------------------------- ------------------------------------
c) Price(s) and volume(s)
----- --------------------- -----------
Price(s) Volume(s)
----- --------------------- -----------
Nil consideration 50,741
--------------------- -----------
d) Aggregated information
-----
- Aggregated volume 50,741
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ------------------------------------
4.2 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Sale of shares to cover tax
transaction / NI on vesting of BSA 2014
----- -------------------------- ------------------------------------
c) Price(s) and volume(s)
----- --------------------- -----------
Price(s) Volume(s)
----- --------------------- -----------
GBP4.1692 23,909
--------------------- -----------
d) Aggregated information
-----
- Aggregated volume 23,909
- Price GBP99,681.40
e) Date of the transaction 12 March 2018
----- -------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
----- -------------------------------------------------------------------
a) Name Rupert Pearce
----- -------------------------- ---------------------------------------
2 Reason for the notification
----- -------------------------------------------------------------------
a) Position/status Chief Executive Officer
----- -------------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
----- -------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- -------------------------------------------------------------------
a) Name Inmarsat plc
----- -------------------------- ---------------------------------------
b) LEI 213800QU7UAKT6KMRF41
----- -------------------------- ---------------------------------------
4.1 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the BSA 2014, BSA 2015 and BSA
transaction 2016 share awards vesting
including reinvested dividends
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 109,934
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 109,934
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ---------------------------------------
4.2 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Sale of shares to cover tax
transaction / NI on vesting of BSA 2014,
BSA 2015 and BSA 2016
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
GBP4.1692 51,799
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 51,799
- Price GBP215,960.3908
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ---------------------------------------
4.3 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the BSA 2017 share award confirmation.
transaction Subject to continued employment,
the award will vest in equal
tranches in March 2019, March
2020 and March 2021.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 113,547
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 113,547
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
4.4 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Conditional BSA 2018 share
transaction award. The shares will vest
in equal tranches in March
2020, 2021 and 2022, subject
to continued employment.
The level of award will not
be confirmed until the results
for 2018 have been determined
in March 2019 and may be
lower (but not higher) than
the initial award.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 251,655
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 251,655
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
4.5 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Conditional PSA 2018 share
transaction award which will vest after
three years based upon three
performance conditions, measured
over the three years to 31
December 2020.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 251,655
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 251,655
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
----- -------------------------------------------------------------------
a) Name Tony Bates
----- -------------------------- ---------------------------------------
2 Reason for the notification
----- -------------------------------------------------------------------
a) Position/status Chief Executive Officer
----- -------------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
----- -------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- -------------------------------------------------------------------
a) Name Inmarsat plc
----- -------------------------- ---------------------------------------
b) LEI 213800QU7UAKT6KMRF41
----- -------------------------- ---------------------------------------
4.1 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the BSA 2014, BSA 2015 and BSA
transaction 2016 share awards vesting
including reinvested dividends
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 81,355
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 81,355
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ---------------------------------------
4.2 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Sale of shares to cover tax
transaction / NI on vesting of BSA 2014,
BSA 2015 and BSA 2016
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
GBP4.1692 38,333
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 38,333
- Price GBP159,817.9436
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange
----- -------------------------- ---------------------------------------
4.3 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the BSA 2017 share award confirmation.
transaction Subject to continued employment,
the award will vest in equal
tranches in March 2019, March
2020 and March 2021.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 88,004
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 88,004
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
4.4 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Conditional BSA 2018 share
transaction award. The shares will vest
in equal tranches in March
2020, 2021 and 2022, subject
to continued employment.
The level of award will not
be confirmed until the results
for 2018 have been determined
in March 2019 and may be
lower (but not higher) than
the initial award.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 195,020
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 195,020
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
4.5 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 Ordinary shares of Euro 0.0005
the financial each
instrument, type
of instrument
-----
Identification ISIN: GB00B09LSH68
code
b) Nature of the Conditional PSA 2018 share
transaction award which will vest after
three years based upon three
performance conditions, measured
over the three years to 31
December 2020.
----- -------------------------- ---------------------------------------
c) Price(s) and volume(s)
----- ----------------------- ------------
Price(s) Volume(s)
----- ----------------------- ------------
Nil consideration 195,020
----------------------- ------------
d) Aggregated information
-----
- Aggregated volume 195,020
- Price Nil consideration
e) Date of the transaction 12 March 2018
----- -------------------------- ---------------------------------------
f) Place of the transaction Outside of trading venue
----- -------------------------- ---------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHGGUQGWUPRGAC
(END) Dow Jones Newswires
March 14, 2018 12:45 ET (16:45 GMT)
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