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SRP Serco Group Plc

177.80
-0.30 (-0.17%)
Last Updated: 11:56:13
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Serco Group Plc LSE:SRP London Ordinary Share GB0007973794 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.30 -0.17% 177.80 177.70 178.00 182.60 176.80 182.60 303,686 11:56:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
General Government, Nec 4.87B 202.4M 0.1834 9.71 1.96B

Serco Group PLC Director/PDMR Shareholding (2480T)

02/07/2018 10:57am

UK Regulatory


Serco (LSE:SRP)
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TIDMSRP

RNS Number : 2480T

Serco Group PLC

02 July 2018

2 July 2018

Serco Group plc (the 'Company')

Legal Entity Identifier: 549300PT2CIHYN5GWJ21

INITIAL NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2 PENCE EACH IN THE COMPANY ('ORDINARY SHARES')

The Company confirms that awards granted on 27 June 2014 to Rupert Soames in the form of Nominal Cost Options under the 2009 Serco Performance Share Plan (the 'Performance Award') and in connection with his appointment to the Company (the 'Recruitment Award') (together, 'the Awards') lapsed in full on 27 June 2018.

The performance measures applied to the Awards are set out below. The performance period for the Awards commenced on 1 January 2014.

Performance Award:

 
 Proportion       Measure                                    Outcome      Overall outcome 
  of the Award 
                  Absolute Share Price - the Company's 
                   average share price in the 30 days 
                   following the announcement of the 
                   2017 results was below the minimum        Lapsed in 
 1/3(rd)           required for vesting.                      full        0% 
                 -----------------------------------------  -----------  ---------------- 
                                   Total vesting in 2018 for 2014 Award   0% 
                       Total proportion of the Performance Award lapsed    83.33% 
                                                                to date 
                                                          Still to vest    16.67% 
 ------------------------------------------------------                  ---------------- 
 

Recruitment Award:

 
 Proportion      Measure                                   Outcome     Overall outcome 
  of the Award 
                 Absolute Share Price - the Company's 
                  average share price in the 30 days 
                  following the announcement of the 
                  2017 results was below the minimum       Lapsed in 
 40%              required for vesting.                     full       0% 
                ----------------------------------------  ----------  ---------------- 
                    Total vesting in 2018 for 2014 Recruitment Award   40% 
                    Total proportion of the Recruitment Award vested 
                                                             to date    20% 
                    Total proportion of the Performance Award lapsed 
                                                             to date    80% 
                                                       Still to vest    0% 
                ----------------------------------------------------  ---------------- 
 

All tranches of the 2014 Recruitment Award have now vested or lapsed.

The closing price of an Ordinary Share of Serco Group plc at the point of vesting on 27 June 2018 was GBP1.0080.

The notifications that follow are made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                Rupert Soames 
      ----------------------------------  ---------------------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------------- 
 a)    Position/status                     Group Chief Executive 
      ----------------------------------  ---------------------------------------------------- 
 b)    Initial notification                Initial notification 
        /Amendment 
      ----------------------------------  ---------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------------- 
 a)    Name                                Serco Group plc 
      ----------------------------------  ---------------------------------------------------- 
 b)    LEI                                 549300PT2CIHYN5GWJ21 
      ----------------------------------  ---------------------------------------------------- 
 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 2 pence each ('Ordinary 
        financial instrument,               Shares') 
        type of instrument                  ISIN: GB0007973794 
 
       Identification code 
 
 b)    Nature of the transaction           The lapse of Nominal Cost Options over Ordinary 
                                            Shares granted in 2014 under the Company's 
                                            2009 Performance Share Plan. 
      ----------------------------------  ---------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                          ----------------  -------------------------------- 
                                           Price(s)          Volume(s) 
                                          ----------------  -------------------------------- 
                                           n/a               192,132 (Performance 
                                                              Award) 
                                          ----------------  -------------------------------- 
                                           n/a               153,953 (Recruitment 
                                                              Award) 
                                          ----------------  -------------------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      346,085 
 
  - Price                                  n/a 
 
 e)    Date of the transaction             27 June 2018 
      ----------------------------------  ---------------------------------------------------- 
 f)    Place of the transaction            n/a 
      ----------------------------------  ---------------------------------------------------- 
 

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

July 02, 2018 05:57 ET (09:57 GMT)

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