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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Appreciate Group Plc | LSE:PARK | London | Ordinary Share | GB0006710643 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.75 | 50.00 | 51.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPARK
RNS Number : 3271L
Park Group PLC
21 December 2018
Park Group plc
("Park" the "Company" or the "Group")
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Awards under the Park Group plc Strategic Growth Plan
Following the adoption of the Park Group plc Strategic Growth Plan (the "Plan") the Company has today, 21 December, 2018, granted awards under the Plan to the directors of the Company listed below.
Under the terms of the Plan, participants have the right to receive a proportion of a pool of ordinary shares of 2 pence each in the Company ("Ordinary Shares") that in aggregate deliver a value equal to 10% of the value created for shareholders over a 5 year performance period beginning from the date of grant. The awards will vest for nil consideration and are subject to certain performance conditions, principally delivering a total shareholder return in excess of 10% p.a. compound growth during the performance period. The awards will be settled in Ordinary Shares. In consideration for the grant of the awards under the Plan, any entitlement to receive a usual award under the Company's Long Term Incentive Plan ("LTIP") will be suspended for the participants during this period.
An overall cap on the maximum number of shares that can be granted under the SGP is set at 5% of the outstanding share capital at grant to prevent excessive payouts or dilution. This will sit outside of the current share plan limits and therefore be in addition to the current 10% limit that applies to awards under the LTIP and the Company's Save As You Earn scheme.
The number of Ordinary Shares under award will be determined and vest at the end of the 5 year performance period, or earlier in the event of a change of control of the Company, and will be calculated at that time by reference to the director's percentage entitlement to the growth in value below.
Director Position Percentage entitlement of 10% pool --------------- ------------------------- ----------------------------------- IAN O'DOHERTY CHIEF EXECUTIVE OFFICER 45% --------------- ------------------------- ----------------------------------- TIM CLANCY CHIEF FINANCIAL OFFICER 25% --------------- ------------------------- -----------------------------------
For further information, please contact:
Park Group plc Arden Partners plc MHP Communications Ian O'Doherty Steve Douglas Reg Hoare Benjamin Cryer Katie Hunt Paul Shackleton Charles Hirst Tel: 0151 653 1700 Tel: 020 7614 5920 Tel: 020 3128 8100
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
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 Ian O'Doherty ------------------------------------------- ------------------------------------------------------------------------------------------ 2 Reason for the notification --------------------------------------------------------------------------------------------------------------------------------------- a) Position/status Director - CEO ------------------------------------------- ------------------------------------------------------------------------------------------ b) Initial notification/ Initial notification Amendment ------------------------------------------- ------------------------------------------------------------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --------------------------------------------------------------------------------------------------------------------------------------- a) Name Park Group plc ------------------------------------------- ------------------------------------------------------------------------------------------ b) LEI 213800MQ5U1F8SPHK638 ------------------------------------------- ------------------------------------------------------------------------------------------ 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 2p each the financial instrument, type of instrument ISIN: GB0006710643 Identification code ------------------------------------------- ------------------------------------------------------------------------------------------ b) Nature of the Grant of award under the Park Group plc Strategic Growth Plan transaction ------------------------------------------- ------------------------------------------------------------------------------------------ c) Price(s) and Price(s) Volume(s) volume(s) Nil Such number of shares as equals 4.5% of the growth in value above a 10% CAGR over 5 years from the date of grant of the award ------------------------------------------- ------------------------------------------------------------------------------------------ d) Aggregated information- Aggregated volume N/A - Price ------------------------------------------- ------------------------------------------------------------------------------------------ e) Date of the transaction 21 December 2018 ------------------------------------------- ------------------------------------------------------------------------------------------ f) Place of the London Stock Exchange transaction ------------------------------------------- ------------------------------------------------------------------------------------------ 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Tim Clancy ------------------------------------------- ------------------------------------------------------------------------------------------ 2 Reason for the notification --------------------------------------------------------------------------------------------------------------------------------------- a) Position/status Director - CFO ------------------------------------------- ------------------------------------------------------------------------------------------ b) Initial notification/ Initial notification Amendment ------------------------------------------- ------------------------------------------------------------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --------------------------------------------------------------------------------------------------------------------------------------- a) Name Park Group plc ------------------------------------------- ------------------------------------------------------------------------------------------ b) LEI 213800MQ5U1F8SPHK638 ------------------------------------------- ------------------------------------------------------------------------------------------ 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 2p each the financial instrument, type of instrument ISIN: GB0006710643 Identification code ------------------------------------------- ------------------------------------------------------------------------------------------ b) Nature of the Grant of award under the Park Group plc Strategic Growth Plan transaction ------------------------------------------- ------------------------------------------------------------------------------------------ c) Price(s) and Price(s) Volume(s) volume(s) Nil Such number of shares as equals 2.5% of the growth in value above a 10% CAGR over 5 years from the date of grant of the award ------------------------------------------- ------------------------------------------------------------------------------------------
d) Aggregated information- Aggregated volume N/A - Price ------------------------------------------- ------------------------------------------------------------------------------------------ e) Date of the transaction 21 December 2018 ------------------------------------------- ------------------------------------------------------------------------------------------ f) Place of the London Stock Exchange transaction ------------------------------------------- ------------------------------------------------------------------------------------------
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
December 21, 2018 09:51 ET (14:51 GMT)
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