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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mobico Group Plc | LSE:NEX | London | Ordinary Share | Ordinary Shares |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 108.30 | 108.50 | 108.90 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNEX
RNS Number : 8339J
National Express Group PLC
04 April 2018
NATIONAL EXPRESS GROUP PLC
("Company")
Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
The Company provides notification of the following transactions effected on 4 April 2018 relating to the below named PDMRs and relating to their respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).
The transactions arise from the annual award, pursuant to the Company's Directors' Remuneration Policy, of performance conditioned option awards over Shares under the rules of the Company's 2015 Long-Term Incentive Plan ("LTIP"), including, as applicable, the HMRC approved Company Share Option Plan ("CSOP") attached thereto (together, "Awards").
Name and Number of Total interest Total beneficial position Shares over in Shares interest in of PDMR which Award following Shares following granted under the transaction the transaction the LTIP under the (including and/or CSOP, Company's those held as indicated deferred by connected (max)(1) bonus and persons) long-term incentive plans ---------------- --------------------- ----------------- ------------------ Dean Finch, 325,775 (LTIP)(2) 1,600,075 249,493 Group Chief 7,751 (CSOP)(3) Executive --------------------------------------- ----------------- ------------------ Chris Davies, Group Finance Director 139,050 (LTIP)(2) 410,957 3,000 ---------------- --------------------- ----------------- ------------------ Matt Ashley, Group Finance Director 139,050 (LTIP)(2) 471,948 124,278 ---------------- --------------------- ----------------- ------------------
(1) The conversion of the Award value (as a percentage of salary) into the number of Shares under option is based on the closing middle market quotation of a Share on 29 March 2018 (being the business trading day immediately preceding the date of grant) of GBP3.87 per share.
(2) Awards under the LTIP are granted in the form of nil cost options.
(3) Awards under the CSOP are structured in the form of market value share options with an exercise price of GBP3.87 per Share (such price being derived as per note(1) above). These awards are aligned with the requirements of Schedule 4 to the Income Tax (Earnings and Pensions) Act 2003 and any vesting will be by way of set-off against any Shares vesting under the LTIP award.
The Awards will normally vest on the third anniversary of grant with the actual number of Shares vesting at that time, if any, based on the Company's achievement against stretching performance targets measured over the three-year financial period ending 31 December 2020. The targets (set out in full in the Directors' Remuneration Report to the Company's 2017 Annual Report, available at www.nationalexpressgroup.com) relate to Earnings Per Share, Return On Capital Employed and, split equally between a comparison against the FTSE 250 and a bespoke index, Total Shareholder Return. Each target is weighted as to one-third of the Award. There is no ability to retest any of the performance conditions.
Additionally, the Awards are subject to malus and clawback and a two-year holding period from the date of vesting (including post cessation of employment), the latter of which runs in parallel with the two-year exercise period which applies. A dividend equivalent payment accrues during the vesting period (payable on vesting) in relation to any Shares which vest and, similarly, dividend equivalent payments are payable on any vested unexercised Shares held during the holding period.
The Company can confirm that each of the PDMRs have complied with their obligation to notify the Financial Conduct Authority in respect of the above transactions as is their obligation under the EU Market Abuse Regulation.
- END -
National Express contact and telephone number for enquiries:
Michael Arnaouti, Group Company Secretary
++44 (0) 207 805 3807
Notes
Legal Entity Identifier: 213800A8IQEMY8PA5X34
Classification: 3.1 (with reference to DTR6 Annex 1R)
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHFKQDBNBKDKQK
(END) Dow Jones Newswires
April 04, 2018 10:30 ET (14:30 GMT)
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