SAGA PLC Director/PDMR Shareholding (7254O)
02 Junio 2020 - 09:56AM
UK Regulatory
TIDMSAGA
RNS Number : 7254O
SAGA PLC
02 June 2020
2 June 2020
SAGA PLC ("THE COMPANY") - DIRECTOR/PDMR SHAREHOLDING
Pursuant to the notification obligations under Article 19 of the
Market Abuse Regulation, the Company hereby notifies the following
changes in the interests of directors and persons discharging
managerial responsibility ("PDMRs") in Ordinary Shares of 1 pence
each in the Company ("Shares").
Buy-out Award
On 1 June 2020, the Company granted an award ("Buy-out Award")
in the form of a nil-cost option over 466,822 Shares to Cheryl
Agius.
The Board agreed to grant the Buy-out Award to compensate, on a
fair value basis, the value forgone by Cheryl Agius for share
awards forfeited on cessation of employment with her previous
employer. The fair value of the Buy-out Award has been calculated
to take account of the original performance period and the
estimated satisfaction of the performance conditions as at the time
of the buy-out. The vesting level will be revisited at the time of
vesting to adjust the number of Shares which vest to reflect the
actual vesting of the original awards from her previous employer.
The first tranche of 162,723 Shares will vest on 6 April 2021; the
second tranche of 304,099 Shares will vest on 6 April 2022.
The share price used for calculation of the award is 52.50 pence
per share; the average share price for the period 27 to 31 December
2019, being the 3 working days prior to her date of joining the
Company. Further details of the award are contained in the 2020
Annual Report.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Cheryl Agius
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2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status Director
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b) Initial notification Initial notification
/Amendment
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3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a) Name Saga plc
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b) LEI 2138004WWUJN94K2LH95
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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
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a) Description of Ordinary shares of 1 pence
the financial
instrument, type
of instrument
Identification
code
----------------------------------------- -------------------------------------------
GB00BLT1Y088
------------------------------------------------------------------------------------------
b) Nature of the Buy-out award in the form of a nil-cost
transaction option.
----------------------------------------- ===========================================
c) Price(s) and volume(s) Price(s) Volume(s)
==== ========================================= --------------------- --------------------
GBPnil 466,822
==================================================================== ====================
d) Aggregated information
- Aggregated volume n/a
- Price
----------------------------------------- -------------------------------------------
e) Date of the transaction 1 June 2020
==== ========================================= ===========================================
f) Place of the transaction Outside of trading venue
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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 rns@lseg.com or visit www.rns.com.
END
DSHFLFESREIFIII
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