TIDMFSJ

RNS Number : 2409J

Fisher (James) & Sons plc

25 April 2022

25 April 2022

JAMES FISHER AND SONS PLC

Notification of Directors' Interest in Shares

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 21 April 2022, awards over ordinary shares of 25p each in James Fisher and Sons plc (the "Company") were made under the James Fisher and Sons 2021 Long Term Incentive Plan, to the following persons discharging managerial responsibilities:

 
        PDMR          Number of Shares held under 
                                 award 
 Eoghan O'Lionaird              146,773 
                     ---------------------------- 
   Duncan Kennedy               96,926 
                     ---------------------------- 
   Robin Stopford               51,874 
                     ---------------------------- 
 

Notes:

No consideration was paid for the grant of the awards which are structured as nil cost restricted share awards.

The awards will normally vest on the 21 April 2025 subject to the satisfaction of the performance conditions set by the Remuneration Committee of the Company.

The following three performance conditions apply to the Award:

50 per cent. of the Award is subject to a performance condition based on the Company's earnings per share (EPS) performance over three financial years commencing with the financial year in which the Award is granted. None of this element shall vest if the Company's EPS for the 2024 financial year is less than 66p. 25 per cent. of this element shall vest if 2024 EPS is 66p, rising on a straight-line sliding scale to 100 per cent. vesting of this element if 2024 EPS is at least 76p.

30 per cent. of the Award is subject to a performance condition comparing the Company's total shareholder return (TSR) against a comparator group comprising the constituents of the FTSE 250 Index (excluding investment trusts) at the start of the TSR performance period. TSR shall be measured over three years commencing on 6 April 2022. None of this element shall vest if the Company's relative TSR over this period is below the median TSR of the comparator group. 25 per cent. of this element shall vest if the Company's TSR is in line with the median TSR of the comparator group, rising on a straight-line sliding scale to 100 per cent. vesting of this element if TSR is at least upper quartile.

The remaining 20 per cent. of the Award is subject to a performance condition based on the Company's return on capital employed (ROCE) performance over three financial years commencing with the financial year in which the Award is granted. None of this element shall vest if the Company's ROCE for the 2024 financial year is less than 11%. 25 per cent. of this element shall vest if 2024 ROCE is 11%, rising on a straight-line sliding scale to 100 per cent. vesting of this element if 2024 ROCE is at least 13%.

In line with the Remuneration Policy approved by shareholders at the 2021 AGM a two-year post-vesting period will apply to the awards made to Eoghan O'Lionaird and Duncan Kennedy.

Furthermore, the Remuneration Committee retains the discretion to adjust the Awards at vesting to ensure that all relevant factors are taken into account, including the consideration of any windfall gains.

Details of the full notifications received by the Company are set out below.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                              Eoghan Pol O'Lionaird 
      --------------------------------  ---------------------------------------- 
 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                              James Fisher and Sons plc 
      --------------------------------  ---------------------------------------- 
 b)    LEI                               213800J975E5OYR6S216 
      --------------------------------  ---------------------------------------- 
 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 25 pence each in 
        instrument, type of               James Fisher and Sons plc 
        instrument                        GB0003395000 
        Identification code 
      --------------------------------  ---------------------------------------- 
 b)    Nature of the transaction         Grant of a restricted share award under 
                                          the James Fisher and Sons 2021 Long 
                                          Term Incentive Plan. The award will 
                                          ordinarily vest on 21 April 2025. 
      --------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)             Price(s)    Volume(s) 
                                           Nil         146,773 
                                                      ---------- 
      --------------------------------  ---------------------------------------- 
            Aggregated information 
              *    Aggregated volume 
 
 
 d)           *    Price                   146,773 
      --------------------------------  ---------------------------------------- 
 e)    Date of the transaction           21 April 2022 
      --------------------------------  ---------------------------------------- 
 f)    Place of the transaction          Outside a trading venue 
      --------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                              Duncan Kennedy 
      --------------------------------  ---------------------------------------- 
 2     Reason for Notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                   Chief Financial Officer 
      --------------------------------  ---------------------------------------- 
 b)    Initial notification/Amendment    Initial Announcement 
      --------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                              James Fisher and Sons plc 
      --------------------------------  ---------------------------------------- 
 b)    LEI                               213800J975E5OYR6S216 
      --------------------------------  ---------------------------------------- 
 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 25 pence each in 
        instrument, type of               James Fisher and Sons plc 
        instrument                        GB0003395000 
        Identification code 
      --------------------------------  ---------------------------------------- 
 b)    Nature of the transaction         Grant of a restricted share award under 
                                          the James Fisher and Sons 2021 Long 
                                          Term Incentive Plan. The award will 
                                          ordinarily vest on 21 April 2025. 
      --------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)             Price(s)    Volume(s) 
                                           Nil         96,926 
                                                      ---------- 
      --------------------------------  ---------------------------------------- 
            Aggregated information 
              *    Aggregated volume 
 
 
 d)           *    Price                   96,926 
      --------------------------------  ---------------------------------------- 
 e)    Date of the transaction           21 April 2022 
      --------------------------------  ---------------------------------------- 
 f)    Place of the transaction          Outside a trading venue 
      --------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                              Robert Woodman Stopford 
      --------------------------------  ---------------------------------------- 
 2     Reason for Notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                   Head of Corporate Development 
      --------------------------------  ---------------------------------------- 
 b)    Initial notification/Amendment    Initial Announcement 
      --------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                              James Fisher and Sons plc 
      --------------------------------  ---------------------------------------- 
 b)    LEI                               213800J975E5OYR6S216 
      --------------------------------  ---------------------------------------- 
 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 25 pence each in 
        instrument, type of               James Fisher and Sons plc 
        instrument                        GB0003395000 
        Identification code 
      --------------------------------  ---------------------------------------- 
 b)    Nature of the transaction         Grant of a restricted share award under 
                                          the James Fisher and Sons 2021 Long 
                                          Term Incentive Plan. The award will 
                                          ordinarily vest on 21 April 2025. 
      --------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)             Price(s)    Volume(s) 
                                           Nil         51,874 
                                                      ---------- 
      --------------------------------  ---------------------------------------- 
            Aggregated information 
              *    Aggregated volume 
 
 
 d)           *    Price                   51,874 
      --------------------------------  ---------------------------------------- 
 e)    Date of the transaction           21 April 2022 
      --------------------------------  ---------------------------------------- 
 f)    Place of the transaction          Outside a trading venue 
      --------------------------------  ---------------------------------------- 
 

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END

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April 25, 2022 08:42 ET (12:42 GMT)

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