Watches of Switzerland Group PLC Director/PDMR Shareholding (7611P)

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RNS Number : 7611P

Watches of Switzerland Group PLC

13 February 2023

Watches of Switzerland Group PLC (the'Company')

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Bill Floydd a PDMR, in Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').

Watches of Switzerland Group PLC (the 'Company') announces that Bill Floydd has exercised in full Award 1 of the Buy Out option (the 'Option') that was granted to him on 17 February 2022, shortly after he joined the Company, as part of the compensation awarded to him for awards forfeited for leaving his previous employer. Further details can be found within the Company announcement of 17 February 2022.

The Option became exerciseable in October 2022. The performance conditions, applicable to the Option, had previously been achieved as of October 2021, when Bill was employed by his previous employer.

As a result of the exercise of the Option, 814 shares were sold to cover the underlying tax liability. Bill will retain the balance of the award - namely 907 shares. Bill's holding now amounts to 907 shares.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                Bill Floydd 
 2    Reason for the notification 
 a)   Position/status                                     Chief Financial Officer 
 b)   Initial notification/Amendment                      Initial Notification 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
 a)   Name                                                Watches of Switzerland Group PLC 
 b)   LEI                                                 2138008ZOT5K9PJW7168 
 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 financial instrument, type of    Ordinary Shares of GBP0.0125 
      instrument 
 
      Identification code 
                                                           ISIN: GB00BJDQQ870 
 b)   Nature of the transaction                           Exercise in full of Option awarded at time of joining the 
                                                          Company and disposal of such number 
                                                          of shares as was necessary to cover the tax liability which 
                                                          crystallised on exercise of the 
                                                          Option. 
 c)   Price(s) and volume(s)                               Price       Number        Number of       Number of 
                                                                         of options    shares sold     shares retained 
                                                                         exercised     to cover Tax 
                                                                                       Liability 
                                                            GBP8.334    1,721         814             907 
                                                                       ------------  --------------  ----------------- 
 d)   Aggregated information                                                                  Price        Value 
       - Aggregated volume                                                                      per share    GBP 
                                                                        Shares sold to         GBP8.334     GBP6,784 
                                                                         cover Tax Liability 
       - Price                                                                                -----------  --------- 
                                                                        Shares Retained        GBP8.334     GBP7,559 
                                                                                              -----------  --------- 
 e)   Date of the transaction                             10 February 2023 
 f)   Place of the transaction                            XLON 
 

Contact

Stephanie Crinnegan

Director of Investor Relations and Corporate Affairs

T: 0207 317 4600

E: [e-mail]

Laura Battley

Company Secretary & General Counsel

T: 0207 317 4601

E: [e-mail]

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February 13, 2023 09:16 ET (14:16 GMT)