Mobico Group PLC Director/PDMR Shareholding

RNS Number : 4086T

Mobico Group PLC

21 June 2024

 

 

MOBICO GROUP PLC

 ("Company")

 

Director/PDMR Share Dealing

 

The Company provides notification of the following transaction, effected on 20 June 2024, relating to the below named Person Discharging Managerial Responsibilities ("PDMRs") and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transaction arises in respect of the grant under the rules of the Company's Long-Term Incentive Plan ("LTIP") to Ignacio Garat of three-year performance-conditioned nil-cost options over Shares (the "2024 LTIP Award") in accordance with the Directors Remuneration Policy.  

 

At the time of grant, the Company's share price (according to the middle market quotation of the Company's share price on the last dealing day prior to the date of grant of the awards) was 47.16p.  Accordingly, the Remuneration Committee has determined to scale back awards such that a reduction of 30% has been applied to the 2024 LTIP Award.  The numbers shown below in relation to the 2024 LTIP Award are post that reduction.

 

The Remuneration Committee retains discretion to adjust the outcome of the vesting of the 2024 LTIP Award having regard to all relevant circumstances, including the Company's performance and the Company's shareholders' experience, over the three-year performance period and further to adjust the vesting of the Award downwards if that vesting would otherwise result in a windfall gain.

 

Individual PDMR and transaction details are set out in the table below:

 

Name and position of PDMR	Number of Shares over which the 2024 LTIP Award was granted1	Unrestricted beneficial interest held in Shares following the transactions2	Total other interest held in Shares following the transactions3
Ignacio Garat, Group Chief Executive Officer	1,781,170	274,659	2,974,4334

¹ The conversion of the 2024 LTIP Award value into the number of Shares over which it was granted is described above. The 2024 LTIP Award is shown over the maximum number of Shares which can vest.

² Including those held by connected persons.

³ Represents outstanding awards granted under the Company's Executive Deferred Bonus Plan and the Company's Long-Term Incentive Plan.

⁴ Mr Garat was also granted an approved CSOP award alongside his 2024 LTIP Award in line with HMRC permitted limits, which can be exercised by way of effective set-off against any shares vesting under the corresponding 2024 LTIP Award. Due to this effective set-off arrangement, his interests in Shares under such approved CSOP award is not included in the table above as this would result in a double-count.

 

 

1.	Details of PDMR / PCA
	Full Name		Ignacio Garat
	Position / status		Group Chief Executive Officer, PDMR
	Initial notification / amendment		Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name	Mobico Group PLC
	LEI	213800A8IQEMY8PA5X34
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
	Description of the financial instrument		Ordinary shares of 5p each
	Identification code		GB0006215205
	Nature of the transaction		(i)Award of option over shares under the Mobico Group PLC's Long-Term Incentive Plan
	Price(s) and volume(s)		Price(s) Volume(s) Total (i) £ n/a 1,781,170 0.00
	Date of the transaction		20 June 2024
	Place of the transaction		n/a

 

 

 

This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014 as incorporated into domestic law by the European Union (Withdrawal) Act 2018.

 

-       END -

 

Mobico contact and telephone number for enquiries:

 

Simon Callander, Group General Counsel & Company Secretary

[phone]

 

Gillian Saunderson, Deputy Company Secretary

[phone]

 

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

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END

 

 

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