Seraphine Group PLC PDMR Shareholding and Total Voting Rights (2175U)
24 Marzo 2023 - 11:58AM
UK Regulatory
TIDMBUMP
RNS Number : 2175U
Seraphine Group PLC
24 March 2023
Seraphine Group plc
LEI: 254900CQ8TMKUDD0L296
24 March 2023
SERAPHINE GROUP PLC
Notification and public disclosure of transactions by PDMRS and
Total Voting Rights
Exercise of Options
Seraphine Group plc (the "Company") announces that, on 8 March
2023, 95,203 ordinary shares of 1 pence each in the Company were
exercised (the "Option Shares") and issued to the following
Exercising Option Holders and person(s) discharging managerial
responsibilities ("PDMR"):
Exercising Option Maximum number of Exercise price per Option
Holder Seraphine Shares Share
David N. Williams 34,001 1 pence
----------------- -------------------------
Lee Williams 32,641 1 pence
----------------- -------------------------
Chelsey Oliver 28,561 1 pence
----------------- -------------------------
Pursuant to the terms of the Seraphine Group plc Long Term
Incentive Plan, adopted by the Seraphine Board on 30 June 2021
("LTIP"), the Remuneration Committee of the Board resolved that the
performance conditions for the LTIP Awards had a performance period
aligned to the three-year vesting period and applied the following
performance targets and related vesting percentages:
Highest consecutive five day Percentage of award that vests
average share price in the last
three months of the performance
period
Less than GBP0.50 0%
-------------------------------
Between GBP0.50 and GBP0.75 Pro-rata 25% to 50%
-------------------------------
Between GBP0.75 and GBP1.00 Pro-rata 50% to 100%
-------------------------------
GBP1.00 or better 100%
-------------------------------
Although the offer price is less than 50 pence, which is the
minimum average share price ordinarily required in order for the
Options to vest to any extent, the Remuneration Committee had
agreed at its meeting held on 26 January 2023 to use its discretion
to allow the Options to vest as to 25% on the basis its assessment
of forecasted performance of the price of a Seraphine Share had the
full three-year vesting period elapsed, the resulting number of
Seraphine Shares in respect of 25% of the vesting of the Options
being the "Vested Portion".
The Remuneration Committee have applied to the Vested Portion
the fraction x/y, where x is the number of complete days between
the date of the grant of the Options and the Unconditional Date and
y is the number of complete days between the date of grant and the
normal vesting date of the Options under the rules of the LTIP.
The Options have vested and have been exercised by the Option
Holders in connection with the Vested Portion of the Options and
adjusted in accordance with the time pro-rating formula set out
above.
PDMR Notification
The information set out below is provided in accordance with
Article 19 of the EU Market Abuse Regulation 596/2014 (as
incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018) the UK Market Abuse Regulation, provides
further detail.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. David N. Williams
2. Lee Williams
3. Chelsey Oliver
------------------------------- ---------------------------------------------
Reason for Notification
2
------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Finance Officer
3. Creative Director
------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Seraphine Group plc
------------------------------- ---------------------------------------------
b) LEI 254900CQ8TMKUDD0L296
------------------------------- ---------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 1 pence each in Seraphine
financial instrument, Group plc
type of instrument
Identification code GB00BNXGTY25
------------------------------- ---------------------------------------------
b) Nature of the transaction Vesting and exercising of Option Shares
at an option price of 1 pence per share.
------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1. 1 pence 1. 34,001
2. 1 pence 2. 32,641
3. 1 pence 3. 28,561
-----------
------------------------------- ---------------------------------------------
d) Aggregated information
* Aggregated volume 95,203
GBP952.03
* Price
------------------------------- ---------------------------------------------
e) Date of the transaction 8 March 2023
------------------------------- ---------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------
Total Voting Rights
For the purposes of the FCA's Disclosure Guidance and
Transparency Rules, the Company would like to notify the market
that as at 23 March 2023, its issued share capital consisted of
51,029,666 ordinary shares of 1 pence each, with one voting right
per ordinary share. The Company does not hold any ordinary shares
in treasury.
The total number of voting rights of the Company is 51,029,666
and this figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
Enquiries:
Seraphine PLC
Bill Ronald
(Senior Independent Non-Executive Director and via Buchanan
Remuneration Committee Chair)
David Williams (CEO) via Buchanan
Bridget Green (Company Secretary) via Buchanan
Buchanan Communications Seraphine@buchanan.uk.com
Buchanan Communications Tel: (0)20 7466 5000
Simon Compton Tel: (0) 7979 497324
Helen Tarbet Tel: (0) 7872 604453
Kim Looringh van Beeck Tel: (0)7477 967446
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END
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