MITIE Group PLC Director/PDMR Shareholding (7666W)

TIDMMTO

RNS Number : 7666W

MITIE Group PLC

03 August 2018

3 August 2018

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

Mitie Group plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons

On 2 August 2018 Phil Bentley and Paul Woolf were each granted options over Ordinary shares of 2.5 pence each in the Company under the Company's 2015 Long Term Incentive Plan ("LTIP").

The performance conditions that apply to the awards have been simplified to two measures: (i) EPS; and (ii) cash conversion, each accounting for 50% of the award with the following performance conditions:

 
 Performance       Weighting   Performance         Vesting of portion of the award 
  measure                       range               (performance period three years 
                                                    ending 31 March 2021) 
================  ==========  ==================  ============================================ 
 Earnings          50% of      5% - 12% compound   Zero vesting if EPS growth, as adjusted 
  Per               the         annual growth       by the Committee as appropriate, 
  Share (EPS)       award                           is less than 5% per annum. 
  growth                                            If EPS growth is equal to 5% per 
                                                    annum, 25% of this portion of the 
                                                    award will vest. 
                                                    If EPS growth is equal to 8.5% per 
                                                    annum, 70% of this portion of the 
                                                    award will vest. 
                                                    If EPS growth is equal to or above 
                                                    12% per annum, 100% of this portion 
                                                    of the award will vest. 
                                                    Between these three points, the proportion 
                                                    of awards vesting will be determined 
                                                    on a linear sliding scale basis. 
================  ==========  ==================  ============================================ 
 Cash conversion   50% of      75% - 85%           Zero vesting if cash conversion is 
                    the         per annum           less than 75% per annum. 
                    award                           At 75%, 25% of this portion of the 
                                                    award will vest. 
                                                    At 80%, 70% of this portion of the 
                                                    award will vest. 
                                                    At 85% or above, 100% of this portion 
                                                    of the award will vest. 
                                                    Between these three points, the proportion 
                                                    of awards vesting will be determined 
                                                    on a linear sliding scale basis. 
================  ==========  ==================  ============================================ 
 

The awards are subject to malus and clawback provisions including a post-vesting holding period of two years.

The attached notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

- Ends -

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                       PHIL BENTLEY 
     ========================= 
 2    Reason for the notification 
 a)   Position/status            PDMR - CHIEF EXECUTIVE OFFICER 
     ========================= 
 b)   Initial notification       INITIAL NOTIFICATION 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                       MITIE GROUP PLC 
 b)   LEI                        213800MTCLTKEHWZMJ03 
     ========================= 
 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             SHARE OPTIONS OVER ORDINARY SHARES OF 2.5 
       the financial              PENCE EACH IN MITIE GROUP PLC. 
       instrument, type           IDENTIFICATION CODE FOR MITIE GROUP PLC 
       of instrument              ORDINARY SHARES: GB0004657408 
       Identification 
       code 
     ========================= 
 b)   Nature of the              GRANT OF OPTIONS FOR NIL CONSIDERATION UNDER 
       transaction                THE MITIE GROUP PLC 2015 LONG TERM INCENTIVE 
                                  PLAN 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                    152.50p    1,180,327 OPTIONS 
                                              ------------------ 
     ========================= 
 d)   Aggregated information       Price(s)       Volume(s) 
       - Aggregated volume          GBP1,799,999   1,180,327 OPTIONS 
       - Price                                    ------------------ 
 e)   Date of the transaction    2018-08-02 
     ========================= 
 f)   Place of the transaction   OUTSIDE OF TRADING VENUE 
===  =========================  ============================================== 
 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                       PAUL WOOLF 
 2    Reason for the notification 
 a)   Position/status            PDMR - CHIEF FINANCIAL OFFICER 
 b)   Initial notification       INITIAL NOTIFICATION 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                       MITIE GROUP PLC 
 b)   LEI                        213800MTCLTKEHWZMJ03 
 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             SHARE OPTIONS OVER ORDINARY SHARES OF 2.5 
       the financial              PENCE EACH IN MITIE GROUP PLC. 
       instrument, type           IDENTIFICATION CODE FOR MITIE GROUP PLC 
       of instrument              ORDINARY SHARES: GB0004657408 
       Identification 
       code 
 b)   Nature of the              GRANT OF OPTIONS FOR NIL CONSIDERATION UNDER 
       transaction                THE MITIE GROUP PLC 2015 LONG TERM INCENTIVE 
                                  PLAN 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                    152.50p    422,950 OPTIONS 
                                              ---------------- 
 d)   Aggregated information       Price(s)     Volume(s) 
       - Aggregated volume          GBP644,999   422,950 OPTIONS 
       - Price                                  ---------------- 
 e)   Date of the transaction    2018-08-02 
 f)   Place of the transaction   OUTSIDE OF TRADING VENUE 
===  =========================  ============================================== 
 

For further information, contact:

Claire Lovegrove

Head of Media Relations, Corporate Affairs

 
 T: [phone]   M: [phone]   E: [e-mail] 
  8716                6400 
 

Anna Gavrilova

Head of Investor Relations

 
 T: [phone]   M: [phone]   E: [e-mail] 
  8675                9112 
 

Peter Dickinson

General Counsel and Company Secretary

 
 T: [phone]   M: [phone]   E: [e-mail] 
  8157                5013 
 

Notes for editors

About Mitie Group

Founded in 1987, Mitie is the UK's leading facilities management and professional services company. We offer a range of specialist services including engineering services, security, energy and property consultancy within Professional Services, catering, cleaning, pest control, landscaping, custody support services, and property maintenance.

Mitie employs 49,000 people across the UK, looking after a large, diverse blue-chip customer base, from banks and retailers, to hospitals, schools and government departments. We take care of our customers' people and buildings, by delivering the basics brilliantly and by deploying advanced technology. We are pioneers in the Connected Workspace, using smart analytics to provide valuable insight and deliver efficiencies to create outstanding work environments for our customers.

Find out more at www.mitie.com

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 [e-mail] or visit www.rns.com.

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August 03, 2018 05:15 ET (09:15 GMT)