Spire Healthcare Group PLC Director/PDMR Shareholding (0576U)

TIDMSPI

RNS Number : 0576U

Spire Healthcare Group PLC

26 March 2019

26 March 2019

Spire Healthcare Group plc

Grant of 2019 Long Term Incentive Plan awards

Spire Healthcare Group plc (the "Company") announces that, on 25 March 2019, a performance share award (the "Award") was granted over the Company's ordinary shares in the form of nil cost options to the following Executive Directors in the Company, under the rules of the Spire Healthcare Group plc Long Term Incentive Plan.

   Name                       Maximum number of shares under Award 
   Justin Ash                694,444 
   Jitesh Sodha            446,025 

The number of shares set out above represents 150% of each Executive Director's base salary and is the maximum number which may vest under the Award following the end of the performance period (31 December 2021). The shareholder approved Remuneration Policy enables awards of up to 200% of base salary.

The actual number of shares which vest will depend on the extent to which the relevant performance conditions have been satisfied.

The performance conditions applicable to the Award will be based as follows:

   --    35% on relative total shareholder return (TSR) performance; 
   --    35% on adjusted earnings per share (EPS) performance; and 
   --    30% on two Operational Excellence measures. 

Further details of these performance conditions will be disclosed in the 2018 Directors' Remuneration Report which will be published in April.

The share price used to determine the number of shares under the Award was GBP1.3284 being the average of the middle market quotation over the five dealing days ending on 22 March 2019.

The transaction place is London.

Notes:

   1)   The 2019 awards described above will also be subject to a two-year holding period. 

2) As previously disclosed, Justin Ash and Jitesh Sodha also have interests in awards granted during 2018 under the same Long-Term Incentive Plan. These 2018 awards are based on performance in the three-year period to 31 December 2020.

   3)   Justin Ash has an interest over a maximum of 576,058 shares under the 2018 award. 

4) Jitesh Sodha has an interest over a maximum of 414,219 shares under the 2018 award. It is noted that the original RNS announcement dated 8 October 2018 incorrectly referenced an award over 415,381 shares. Jitesh Sodha has subsequently waived his interest over 1,162 shares, to ensure that his 2018 award is over the correct number of shares.

5) The actual number of shares which vest will depend on the extent to which the relevant performance conditions are satisfied in due course.

Name of contact and telephone number for queries:

   Philip Davies                                                            020 7427 9092 

Deputy Company Secretary

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 
 a)    Name                                   Justin Ash 
      -------------------------------------  ------------------------------------------- 
 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                                   Spire Healthcare Group plc 
      -------------------------------------  ------------------------------------------- 
 b)    LEI                                    213800IBJPW3SE2RA350 
      -------------------------------------  ------------------------------------------- 
 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 1 pence each 
        the financial 
        instrument, type                       GB00BNLPYF73 
        of instrument 
        Identification 
        code 
      -------------------------------------  ------------------------------------------- 
 b)    Nature of the                          Grant of performance share awards under 
        transaction                            the Company's Long Term Incentive Plan 
      -------------------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)              Volume(s) 
      -------------------------------------  --------------------  --------------------- 
                                Nil                                       694,444 
  ---------------------------------------------------------------  --------------------- 
 
 d)    Aggregated information                 As above 
        - Aggregated volume 
        - Price 
      -------------------------------------  ------------------------------------------- 
 e)    Date of the transaction                2019-03-25 
      -------------------------------------  ------------------------------------------- 
 f)    Place of the transaction               XLON 
      -------------------------------------  ------------------------------------------- 
 
 
 
 a)    Name                                   Jitesh Sodha 
      -------------------------------------  ------------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------- 
 a)    Position/status                        Chief Financial Officer 
      -------------------------------------  ------------------------------------------- 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------- 
 a)    Name                                   Spire Healthcare Group plc 
      -------------------------------------  ------------------------------------------- 
 b)    LEI                                    213800IBJPW3SE2RA350 
      -------------------------------------  ------------------------------------------- 
 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 1 pence each 
        the financial 
        instrument, type                       GB00BNLPYF73 
        of instrument 
        Identification 
        code 
      -------------------------------------  ------------------------------------------- 
 b)    Nature of the                          Grant of performance share awards under 
        transaction                            the Company's Long Term Incentive Plan 
      -------------------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)              Volume(s) 
      -------------------------------------  --------------------  --------------------- 
                                Nil                                       446,025 
  ---------------------------------------------------------------  --------------------- 
 
 d)    Aggregated information                 As above 
        - Aggregated volume 
        - Price 
      -------------------------------------  ------------------------------------------- 
 e)    Date of the transaction                2019-03-25 
      -------------------------------------  ------------------------------------------- 
 f)    Place of the transaction               XLON 
      -------------------------------------  ------------------------------------------- 
 

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 [e-mail] or visit www.rns.com.

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March 26, 2019 08:49 ET (12:49 GMT)