Sportech PLC Notification of PDMR (1426M)

TIDMSPO

RNS Number : 1426M

Sportech PLC

12 September 2019

12 September 2019

SPORTECH PLC

(the 'Company')

Notification of Transactions by Persons Discharging Managerial Responsibilities ('PDMRs')

Award under the Sportech PLC Value Creation Plan (the 'Plan')

Following the appointment of Richard McGuire to Chief Executive Officer as of 2 July 2019, the Company has, on Wednesday 11 September 2019, made an award under the Plan to Richard McGuire along with other employees.

Under the terms of the Plan, which was approved by shareholders in 2017, participants have the right to receive a proportion of a pool of ordinary shares of 20 pence each in the Company ('Ordinary Shares') that in aggregate deliver a value equal to 20% of the value created for shareholders over the 5 year performance period ending 31 December 2021. The awards will vest for nil consideration and are subject to certain performance conditions, principally delivering a total shareholder return in excess of 8% p.a. compound growth above the starting share price of 95 pence. After adjusting for dividends paid since the creation of the Plan, the indicative vesting level currently is approximately 97 pence per share.

The awards will be settled in Ordinary Shares, however, the remuneration committee have the discretion to settle up to half of the awards in cash.

Full details of the Plan are available in the notice of General Meeting on the Company's website (http://www.sportechplc.com/investors/shareholder-information/meetings-and-voting).

The number of Ordinary Shares under award will be determined and vest at the end of the five 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 participant's percentage entitlement to the growth in value below.

 
 Director           Position           Percentage entitlement  Percentage entitlement 
                                             of 20% pool         of growth in value 
-----------------  -----------------  -----------------------  ---------------------- 
                    CHIEF EXECUTIVE 
 RICHARD MCGUIRE     OFFICER                    4.5%                    0.9% 
-----------------  -----------------  -----------------------  ---------------------- 
 

For further information, please contact:

 
 Sportech PLC 
 Giles Vardey, Chairman   Tel: [phone] 
                                          9000 
 
 
 
 Peel Hunt                        Tel: [phone] 
                                                  8900 
 (Corporate Broker to Sportech) 
  George Sellar / Guy Pengelley 
 
 
 
 Buchanan                                  Tel: [phone] 
                                                           5000 
 (Financial PR adviser to Sportech)    [e-mail] 
  Henry Harrison-Topham / Mark Court 
  / Tilly Abraham 
 

Notification of Deal Form of PDMR can be found below.

 
 1.   Details of the person discharging managerial responsibilities/persons closely associated 
---  ------------------------------------------------------------------------------------------------------------------- 
 a)   Name                     RICHARD MCGUIRE 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 2.   Reason for notification 
---  ------------------------------------------------------------------------------------------------------------------- 
 a)   Position/Status          CHIEF EXECUTIVE OFFICER 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 b)   Initial                  Initial notification 
      notification/amendment 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------------------------------------------------------------- 
 a)   Name                     SPORTECH PLC 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 b)   LEI                      2138003BHYUQWAYGSK09 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 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 GBP0.20 each in the capital of SPORTECH PLC 
      financial instrument,     ISIN: GB00B28ZPV64 
      type of instrument and 
      identification code 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 b)   Nature of transaction    Award of shares under the SPORTECH PLC VALUE CREATION PLAN 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)    Price(s)   Volume(s) 
                                ---------  ----------------------------------------------------------------------------- 
                                 Nil        Such number of shares as equals 0.9% of the growth in value above a 8% CAGR 
                                            over 5 years to 
                                            31 December 2021 
                                ---------  ----------------------------------------------------------------------------- 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 d)   Aggregated Information   n/a 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 e)   Date of transaction      11 September 2019 
---  -----------------------  ------------------------------------------------------------------------------------------ 
 f)   Place of transaction     London Stock Exchange (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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September 12, 2019 06:30 ET (10:30 GMT)