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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Merlin Entertainments Plc | LSE:MERL | London | Ordinary Share | GB00BDZT6P94 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 454.60 | 454.60 | 454.70 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMMERL
RNS Number : 8961K
Merlin Entertainments plc
13 April 2018
Merlin Entertainments plc 13 April 2018
Notification of Transactions of
Persons Discharging Managerial Responsibility (PDMRs)
Grant of Awards to PDMRs under the Company's Performance Share Plan
The Company announces that on 11 April 2018 the following Executive Directors and other PDMRs, as set out against their names in the tables below, were granted awards over 1 pence ordinary shares in the capital of the Company under the Company's relevant Performance Share Plan (PSP).
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TABLE 1 - AWARD OF PSP SHARES
--------------------------------------------------------------------------------------
Name Position Number of Shares
under PSP Awards
----------------------- ----------------------------------------- ------------------
Nick Varney Chief Executive Officer 438,819
----------------------- ----------------------------------------- ------------------
Anne-Francoise Nesmes Chief Financial Officer 287,706
----------------------- ----------------------------------------- ------------------
Chief Digital Marketing and Information
Mark Allsop Officer 75,569
----------------------- ----------------------------------------- ------------------
Natalie Bickford Group HR Director 78,042
----------------------- ----------------------------------------- ------------------
Mark Fisher Chief Development Officer 86,378
----------------------- ----------------------------------------- ------------------
John Jakobsen Chief New Openings Officer 86,378
----------------------- ----------------------------------------- ------------------
Matt Jowett General Counsel and Company Secretary 78,042
----------------------- ----------------------------------------- ------------------
Managing Director - Midway Operating
Nick Mackenzie Group 86,378
----------------------- ----------------------------------------- ------------------
Fraser Montgomery Group Commercial Director 64,314
----------------------- ----------------------------------------- ------------------
Hans Aksel Pedersen Managing Director - LEGOLAND Parks 79,817
----------------------- ----------------------------------------- ------------------
Managing Director - Resort Theme
Justin Platt Parks 75,569
----------------------- ----------------------------------------- ------------------
As detailed in the 2017 Directors' Remuneration Report, awards have now been granted to the Executive Directors at up to 250% of salary, with both Mr Varney and Ms Nesmes receiving awards at the level of 250% of salary.
The award to Ms Nesmes reflects an increase of 25% of salary on the award she received in 2017. This is to reflect the breadth of her role which also includes responsibility for implementing the Company's commercial agenda. The Committee is comfortable enhancing her award on the basis that the additional award is subject to targets directly relating to targeted improvements in the Company's commercial operations.
As a result of the above, the performance targets that apply to all positions named above other than Ms Nesmes relate 80% to the financial targets set out below with 20% relating to the strategic targets detailed below. For Ms Nesmes, 80% of her award relates to the financial targets set out below with 10% relating to the strategic targets and 10% relating to the commercial targets. The range of financial targets detailed below were included in the 2017 Directors' Remuneration Report along with a summary of the strategic targets. The summary of the commercial targets was not included in the 2017 Directors' Remuneration Report as they had not been confirmed at the time of preparing the document.
The performance conditions that apply to the awards are detailed below.
Financial Targets
EPS performance condition (40% of each award)
--------------------------------------------------------------------------------
(2017 base year EPS to Adjusted EPS growth % of EPS part vesting
2020)
------------------------------- ---------------------- -----------------------
Below threshold < 3% p.a. growth 0%
------------------------------- ---------------------- -----------------------
Threshold 3% p.a. growth 20%
------------------------------- ---------------------- -----------------------
Between threshold and maximum 3% - 10% p.a. growth 20% to 100% on sliding
scale
------------------------------- ---------------------- -----------------------
Maximum 10 % p.a. growth 100%
------------------------------- ---------------------- -----------------------
ROCE performance condition (40% of each award)
-----------------------------------------------------------------------
(average of 2018, 2019 Average ROCE % of ROCE part vesting
and 2020)
------------------------------- ------------- -----------------------
Below threshold < 8% 0%
------------------------------- ------------- -----------------------
Threshold 8% 25%
------------------------------- ------------- -----------------------
Between threshold and maximum 8% - 10% 25% to 100% on sliding
scale
------------------------------- ------------- -----------------------
Maximum 10% 100%
------------------------------- ------------- -----------------------
The above Adjusted EPS and ROCE targets exclude the impact of LEGOLAND New York (both the part year forecast 2020 earnings for LEGOLAND New York and the capital expenditure associated with its development). It is expected that LEGOLAND New York will be included in any future PSP awards when there would be at least a full year's trading included in the earnings.
Strategic and Commercial targets (20% of each award)
------------------------------------------------------------------------------------------
Measure (assessed from 2018 to 2020)
------------------------------------------------------------------------------------------
The targets measure the benefits of business
Productivity (strategic) simplification projects and efficiency
improvements from investments in systems
and processes.
---------------------------------------- ------------------------------------------------
The targets include the delivery of new
New business development (strategic) attractions and their subsequent performance.
This will include new midway attractions,
new accommodation and new LEGOLAND Parks.
---------------------------------------- ------------------------------------------------
Customers are at the heart of our business
Customer satisfaction (strategic) and the targets are structured measuring
performance based on external survey
data.
---------------------------------------- ------------------------------------------------
Group commercial activities We have set targets relating to improving
(commercial) performance in our commercial activities
(including retail, food & beverages,
photos, games and procurement). The targets
incorporate both medium to long-term
concept/range development and improving
gross profit margins. This target is
specific to the Chief Financial Officer
given the breadth of her responsibilities
(see below).
---------------------------------------- ------------------------------------------------
Each of the Strategic and Commercial Targets set out in the table above will be independently assessed at the end of the performance period.
The specific strategic and commercial targets are considered to be commercially sensitive and will be disclosed in full, along with actual performance, at the time of vesting in the 2020 Directors' Remuneration Report.
As in 2017, the vesting of any element of the awards will be subject to satisfying a health and safety underpin which enables the Committee to scale back or indeed cancel awards if it decides that it is appropriate to do so. Market standard recovery and withholding provisions also apply (i.e. trigger events include material misstatement, error or misconduct).
In addition, the Company announces that on 11 April 2018 the following PDMRs, as set out against their names in the tables below, were granted Restricted Share Awards over 1 pence ordinary shares in the capital of the Company under the Company's PSP. These awards are not subject to performance conditions and will ordinarily vest on the third anniversary of grant, subject to continued employment.
TABLE 2 - RESTRICTED SHARE AWARDS
---------------------------------------------------------------------------------
Name Position Number of
Shares under
Restricted
Share Awards
--------------------- ------------------------------------------ --------------
Chief Digital Marketing and Information
Mark Allsop Officer 13,739
--------------------- ------------------------------------------ --------------
Natalie Bickford Group HR Director 71,792
--------------------- ------------------------------------------ --------------
Mark Fisher Chief Development Officer 15,705
--------------------- ------------------------------------------ --------------
John Jakobsen Chief New Openings Officer 15,705
--------------------- ------------------------------------------ --------------
Matt Jowett General Counsel and Company Secretary 71,792
--------------------- ------------------------------------------ --------------
Managing Director - Midway Operating
Nick Mackenzie Group 15,705
--------------------- ------------------------------------------ --------------
Fraser Montgomery Group Commercial Director 11,693
--------------------- ------------------------------------------ --------------
Hans Aksel Pedersen Managing Director - LEGOLAND Parks 14,512
--------------------- ------------------------------------------ --------------
Managing Director - Resort Theme
Justin Platt Parks 13,739
--------------------- ------------------------------------------ --------------
Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP.
For further information please contact:
Matthew Jowett
General Counsel and Company Secretary
Merlin Entertainments plc
00 44 1202 634 955
13 April 2018
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Nick Varney
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Chief Executive Officer
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 438,819
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Anne-Francoise Nesmes
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Chief Financial Officer
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 287,706
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ===========================================================================
a) Name Mark Allsop
=== ================================= ========================================
2 Reason for the notification
=== ===========================================================================
a) Position/status Chief Digital Marketing and Information
Officer
=== ================================= ========================================
b) Initial Notification / Amendment Initial Notification
=== ================================= ========================================
3 Details of the issuer
=== ===========================================================================
a) Name Merlin Entertainments plc
=== ================================= ========================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= ========================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= ========================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= ========================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 89,308
========== ==========
=== ================================= ========================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= ========================================
e) Date of the transaction 11 April 2018
=== ================================= ========================================
f) Place of the transaction Outside a trading venue
=== ================================= ========================================
g) Additional Information none
=== ================================= ========================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Natalie Bickford
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Group HR Director
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 149,834
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Mark Fisher
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Chief Development Officer
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 102,083
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name John Jakobsen
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Chief New Openings Officer
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 102,083
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Matt Jowett
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status General Counsel and Company Secretary
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 149,834
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Nick Mackenzie
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Managing Director - Midway Operating
Group
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 102,083
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Fraser Montgomery
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Group Commercial Director
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 76,007
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Hans Askel Pedersen
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Managing Director - LEGOLAND Parks
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 94,329
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
1 Details of the person discharging managerial responsibilities/person
closely associated
=== ==========================================================================
a) Name Justin Platt
=== ================================= =======================================
2 Reason for the notification
=== ==========================================================================
a) Position/status Managing Director - Resort Theme
Parks
=== ================================= =======================================
b) Initial Notification / Amendment Initial Notification
=== ================================= =======================================
3 Details of the issuer
=== ==========================================================================
a) Name Merlin Entertainments plc
=== ================================= =======================================
b) LEI 549300ZTI0VEFO6WV007
=== ================================= =======================================
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 financial Performance Share Plan Award over
instrument, Ordinary shares of 1 pence each
type of instrument
GB00BDZT6P94
Identification code
=== ================================= =======================================
b) Nature of the transaction Grant of Performance Share Plan Awards
=== ================================= =======================================
c) Price(s) and volumes Price(s) Volume(s)
========== ==========
NIL 89,308
========== ==========
=== ================================= =======================================
d) Aggregated information
- Aggregated volume n/a
- Price
=== ================================= =======================================
e) Date of the transaction 11 April 2018
=== ================================= =======================================
f) Place of the transaction Outside a trading venue
=== ================================= =======================================
g) Additional Information none
=== ================================= =======================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHLLFFLSFIVLIT
(END) Dow Jones Newswires
April 13, 2018 07:30 ET (11:30 GMT)
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