Polar Capital Holdings PLC Director/PDMR Shareholding (7115S)
10 Julio 2020 - 8:06AM
UK Regulatory
TIDMPOLR
RNS Number : 7115S
Polar Capital Holdings PLC
10 July 2020
10 July 2020
Polar Capital Holdings plc ("Polar Capital" or the
"Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)/Persons Closely Associated (PCAs) in
accordance with the Market Abuse Regulations.
Polar Capital announces the grant of conditional share awards
over ordinary shares of 2.5 pence each in Polar Capital Holdings
PLC ("Awards") on 10 July 2020 to the following Directors and PDMRs
of the Company in accordance with the rules of the 2016 Executive
Incentive Plan.
D irector / PDMR Position No. of shares
under A ward
G avin Rochussen Chief E xecutive Officer 211,475
John Mansell E xecutive Director 70,844
Iain Evans Global Head of Distribution 105,737
Alexander Black Chief Investment Officer 105,737
Vesting of the Awards is subject to continued employment and
performance based on the following measures:
- 40% of each Award will vest based on relative Total
Shareholder Return (TSR) of the Company compared with the TSR
performance of the constituents of the FTSE 250 index (excluding
investment trusts) over a three-year performance period.
- 40% of each Award will vest based on achieving stretching
targets for Core EPS in the 2022/23 financial year (as set out in
the 2020 annual report).
- 20% of each Award will vest based on cumulative performance
fee profits (PFP) earned over the three-year performance period. If
cumulative PFP is less than GBP20m this part of an Award will not
vest; if cumulative PFP is equal to GBP20m, 25% of this part an
Award will vest and vesting will increase on a straight line basis
to full vesting if cumulative PFP is equal to or exceeds
GBP40m.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gavin Rochussen
------------------------------- ----------------------------------------------
2 Reason for Notification
-------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Polar Capital Holdings PLC
------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------- ----------------------------------------------
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 Ordinary Shares of 2.5 pence each in
instrument, type of Polar Capital Holdings PLC
instrument
------------------------------- ----------------------------------------------
Identification code GB00B1GCLT25
------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of an award under the Company's
2016 Executive Incentive Plan as a
conditional award. Subject to performance
over 3 years and continued service,
the award normally b egins to vest
after 3 years. One third of the v ested
shares may be released to the individual
on the third, fourth and fifth anniversaries
of the award date. The Net Vested Shares
(as defined in the EIP Rules) are subject
to a holding period and may not be
sold until the fifth anniversary of
the award date.
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 211,475
----------
------------------------------- ----------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ----------------------------------------------
e) Date of the transaction 10 July 2020
------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Mansell
------------------------------- ----------------------------------------------
2 Reason for Notification
-------------------------------------------------------------------------------
a) Position/status Executive Director
------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Polar Capital Holdings PLC
------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------- ----------------------------------------------
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 Ordinary Shares of 2.5 pence each in
instrument, type of Polar Capital Holdings PLC
instrument
------------------------------- ----------------------------------------------
Identification code GB00B1GCLT25
------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of an award under the Company's
2016 Executive Incentive Plan as a
conditional award. Subject to performance
over 3 years and continued service,
the award normally b egins to vest
after 3 years. One third of the v ested
shares may be released to the individual
on the third, fourth and fifth anniversaries
of the award date. The Net Vested Shares
(as defined in the EIP Rules) are subject
to a holding period and may not be
sold until the fifth anniversary of
the award date.
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 70,844
----------
------------------------------- ----------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ----------------------------------------------
e) Date of the transaction 10 July 2020
------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Iain Evans
------------------------------- ----------------------------------------------
2 Reason for Notification
-------------------------------------------------------------------------------
a) Position/status Global Head of Distribution
------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Polar Capital Holdings PLC
------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------- ----------------------------------------------
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 Ordinary Shares of 2.5 pence each in
instrument, type of Polar Capital Holdings PLC
instrument
------------------------------- ----------------------------------------------
Identification code GB00B1GCLT25
------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of an award under the Company's
2016 Executive Incentive Plan as a
conditional award. Subject to performance
over 3 years and continued service,
the award normally b egins to vest
after 3 years. One third of the v ested
shares may be released to the individual
on the third, fourth and fifth anniversaries
of the award date. The Net Vested Shares
(as defined in the EIP Rules) are subject
to a holding period and may not be
sold until the fifth anniversary of
the award date.
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 105,737
----------
------------------------------- ----------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ----------------------------------------------
e) Date of the transaction 10 July 2020
------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alexander Black
------------------------------- ----------------------------------------------
2 Reason for Notification
-------------------------------------------------------------------------------
a) Position/status Chief Investment Officer
------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Polar Capital Holdings PLC
------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------- ----------------------------------------------
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 Ordinary Shares of 2.5 pence each in
instrument, type of Polar Capital Holdings PLC
instrument
------------------------------- ----------------------------------------------
Identification code GB00B1GCLT25
------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of an award under the Company's
2016 Executive Incentive Plan as a
conditional award. Subject to performance
over 3 years and continued service,
the award normally b egins to vest
after 3 years. One third of the v ested
shares may be released to the individual
on the third, fourth and fifth anniversaries
of the award date. The Net Vested Shares
(as defined in the EIP Rules) are subject
to a holding period and may not be
sold until the fifth anniversary of
the award date.
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 105,737
----------
------------------------------- ----------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ----------------------------------------------
e) Date of the transaction 10 July 2020
------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------------------
Enquiries:
Polar Capital Holdings Numis Securities Limited - Nomad
and Joint Broker
Gavin Rochussen (CEO) Charles Farquhar
John Mansell (Executive Director) Stephen Westgate
Neil Taylor (Company Secretary) Kevin Cruickshank (QE)
Tel: +44 (0)20 7227 2700 +44 (0)20 7260 1000
Peel Hunt LLP - Joint Broker
Andrew Buchanan
Rishi Shah
Tel: +44 (0)20 7418 8893
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END
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