Polar Capital Holdings PLC Share Award and Director Dealings (5473U)
19 January 2017 - 7:01AM
UK Regulatory
TIDMPOLR
RNS Number : 5473U
Polar Capital Holdings PLC
19 January 2017
19 January 2017
Polar Capital Holdings plc
Share Award and Director Dealings
Further to the announcement of the prospective appointment of Mr
Gavin Rochussen as CEO of Polar Capital Holdings plc ("Polar
Capital" or the "Group") the Group confirms that as part of Mr
Rochussen's remuneration package he will join the Company's Long
Term Incentive Plan ("LTIP") and that, on appointment Mr Rochussen
will be awarded a deferred interest in three million pounds value
of ordinary shares ("Ordinary Shares") in the Group (the "LTIP
Award"). In order to satisfy the LTIP Award it is expected that in
due course a recommendation will be made to the Group's Employee
Benefit Trust that it purchase these Ordinary Shares in the
market.
In addition to the LTIP Award Mr Rochussen has informed the
Board of his intention to purchase in the market for his own
account or via a nominee, subject to the normal rules of the
Group's share dealing policy, up to one million Ordinary Shares at
a price of up to 300p (the "Price").
Senior executives and significant shareholders of Polar Capital,
Mr Tim Woolley, Mr Brian Ashford-Russell and Mr Robert Gurner are
extremely supportive of Mr Rochussen's appointment and wish to
ensure that he is able to start his role with a meaningful equity
interest. To this end, they have indicated that, in the event that
Mr Rochussen is unable to complete his purchase at the Price in the
market, they would make up any shortfall and sell Ordinary Shares
at the Price.
The Board of Polar Capital is delighted with the material
financial investment being made by Mr Rochussen in the capital of
the Group which, together with the LTIP Award, will significantly
align his interests with those of all shareholders.
Mr Rochussen will purchase his shares through the Group's Nomad
and Joint Broker, Canaccord Genuity and further details of the
purchase will be provided at the time.
Enquiries:
Polar Capital Holdings PLC
Tim Woolley (CEO) +44 (0)20 7227
John Mansell (COO) 2700
Canaccord Genuity - Nomad
and Joint Broker
Simon Bridges (QE)
Andrew Buchanan +44 (0)20 7523
Kit Stephenson 8000
Peel Hunt - Joint Broker +44 (0)20 7418
Guy Wiehahn 8893
Camarco +44 (0)20 3757
Ed Gascoigne-Pees 4984
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHOKFDDFBKDPDD
(END) Dow Jones Newswires
January 19, 2017 02:01 ET (07:01 GMT)