Vitec Group PLC (The) Restricted Share Plan - Vesting and Award (8104V)

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RNS Number : 8104V

Vitec Group PLC (The)

11 August 2020

11 August 2020

THE VITEC GROUP PLC

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

Vesting of Restricted Share Award

The Vitec Group plc ("the Company") announces that on 11 August 2020, following the release of the half year results announcement, the following restricted share awards over ordinary shares of 20 pence each in the Company under the Restricted Share Plan ("RSP") were exercised by the following PDMRs. The awards were not subject to any performance conditions, only ongoing employment on the vesting date. The awards were made in part exchange for salary waivers implemented in response to Covid-19.

 
 Name             Number of                Number of           Price per          Number         Total holding 
                   Ordinary                 Ordinary            Ordinary share     of Ordinary    of Ordinary 
                   shares acquired          shares disposed     at which shares    shares         shares(2) 
                   for nil consideration    to cover            sold (closing      retained 
                                            tax liability(1)    mid-market 
                                                                price on 6 
                                                                August 2020) 
 Alan Hollis      1,051                    0                   Not applicable     1,051          83,130 (8,179) 
                 -----------------------  ------------------  -----------------  -------------  --------------- 
 Marco Pezzana    1,075                    0                   Not applicable     1,075          92,044 (9,210) 
                 -----------------------  ------------------  -----------------  -------------  --------------- 
 Jon Bolton       685                      322                 GBP6.50            363            43,000 (3,105) 
                 -----------------------  ------------------  -----------------  -------------  --------------- 
 

Restricted Share Award - 10 August 2020

Alan Hollis, in part exchange for a material salary sacrifice from July to September 2020, has received a restricted share award on 10 August 2020 over 1,044 ordinary shares in the Company that will vest on 1 October 2020. This award is not subject to any performance conditions and was calculated on a share price of GBP6.50.

Notes:

(1) Where shares are not being sold, the tax liability is to be settled with PDMRs' own funds.

(2) The number in brackets represents shares held under the Deferred Bonus Plan by the Employee Trustee, Apex Fund Services.

Enquiries:

Jon Bolton

Group Company Secretary

020 8332 4600

A snapshot of The Vitec Group plc

Vitec is a leading global provider of premium branded products and solutions to the fast changing and growing "image capture and content creation" market.

Vitec's customers include broadcasters, independent content creators, photographers and enterprises, and our activities comprise: design, manufacture and distribution of high performance products and solutions including camera supports and accessories, wired and wireless video transmission systems, robotic camera systems, prompters, LED lights, mobile power, monitors, bags, motion control, smartphone accessories, audio capture and noise reduction equipment.

We employ around 1,600 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions.

The Vitec Group plc is listed on the London Stock Exchange with 2019 revenue of GBP376.1 million.

More information can be found at: www.vitecgroup.com

LEI number: 2138007H5DQ4X8YOCF14

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August 11, 2020 07:04 ET (11:04 GMT)