Vanquis Banking Group PLC Director/PDMR Shareholding (1282V)

TIDMVANQ

RNS Number : 1282V

Vanquis Banking Group PLC

03 April 2023

Vanquis Banking Group plc ("the Company")

Director/PDMR Transaction - Initial Notification

The Company announces that on 30 March 2023, 118,365 ordinary shares of 20 8/11p ("Shares") have vested to Malcolm Le May, who is a director of the Company, in respect of a Basic Award under the Deferred Bonus Plan granted on 30 March 2020. 55,808 of those Shares were sold to satisfy income tax and national insurance contributions due on vesting ("Sell to Cover Shares"). The number of Sell to Cover Shares was calculated based on the closing mid-market price of a Share on the London Stock Exchange of GBP2.324 on 30 March 2023, being the vesting date of the Basic Award. The net remaining Shares have been retained.

The Company also announces that 6,281 Shares have been delivered for no consideration to Malcolm Le May as a role based allowance (the "RBA").

The annual aggregate value of the RBA is equal to 15% of Mr Le May's base salary and will be delivered in equal amounts of 25% of the total annual value of the RBA (each an "RBA Award") in the form of Shares. An RBA Award will be paid in arrears on the first business day on which the London Stock Exchange is open for trading following 31 March, 30 June, 30 September and 31 December each year.

The RBA Award of 6,281 Shares delivered to Mr Le May on 31 March 2023 was calculated by dividing the monetary value of the RBA Award (less deductions for income tax and social security) by the closing mid-market price of a Share on the London Stock Exchange on 31 March 2023.

The Shares delivered under the RBA Award will be held by a nominee and subject to a holding period, during which the Shares cannot be sold, transferred, charged, pledged, mortgaged or otherwise encumbered. The holding period will end for one third of the Shares subject to the RBA Award on each of 31 March 2024, 31 March 2025 and 31 March 2026.

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                        Malcolm Le May 
     --------------------------  ---------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status             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                        Vanquis Banking Group plc 
     --------------------------  ---------------------------------------- 
 b)   LEI                         213800U93SZC44VXN635 
     --------------------------  ---------------------------------------- 
 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          Ordinary Shares of 20 8/11p 
       financial instrument, 
       type of instrument 
 
       Identification code         GB00B1Z4ST84 
     --------------------------  ---------------------------------------- 
 b)   Nature of the transaction   (1) Vesting of a Basic Award under 
                                   the Deferred Bonus Plan on 30 March 
                                   2023 over 118,365 Shares. 
                                   (2) Subsequent sale of 55,808 Shares 
                                   to satisfy income tax and national 
                                   insurance contributions due on vesting 
                                   of the Basic Award. 
     --------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     GBP0        118,365 
                                                ---------- 
                                     GBP2.324    55,808 
                                                ---------- 
     --------------------------  ---------------------------------------- 
 d)   Aggregated information        (1) Acquisition   (2) Sale 
                                      on vesting 
       - Aggregated volume           118,365           55,808 
                                                      -------------- 
       - Price                       GBP Nil           GBP129,697.79 
                                                      -------------- 
     --------------------------  ---------------------------------------- 
 e)   Date of the transaction     30 March 2023 
     --------------------------  ---------------------------------------- 
 f)   Place of the transaction    (1) Outside a trading venue 
                                   (2) London Stock Exchange (XLON) 
     --------------------------  ---------------------------------------- 
 

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                          Malcolm Le May 
     ----------------------------  ------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status               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                          Vanquis Banking Group plc 
     ----------------------------  ------------------------------------- 
 b)   LEI                           213800U93SZC44VXN635 
     ----------------------------  ------------------------------------- 
 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            Ordinary Shares of 20 8/11p 
       financial instrument, 
       type of instrument 
 
       Identification code           GB00B1Z4ST84 
     ----------------------------  ------------------------------------- 
 b)   Nature of the transaction     Delivery of Shares as a role based 
                                     allowance . 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)    Volume(s) 
                                       GBP0        6,281 
                                                  ---------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information        Not applicable 
 
       - Aggregated volume 
 
       - Price 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       31 March 2023 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      Outside a trading venue 
     ----------------------------  ------------------------------------- 
 

Name of authorised official of issuer responsible for making notification:

David Whincup, Deputy Company Secretary

Date of Notification :

3 April 2023

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April 03, 2023 08:00 ET (12:00 GMT)