SAGA PLC Director/PDMR Shareholding (8454R)
08 Julio 2022 - 4:50AM
UK Regulatory
TIDMSAGA
RNS Number : 8454R
SAGA PLC
08 July 2022
8 July 2022
SAGA PLC (THE COMPANY) - DIRECTOR/PDMR SHAREHOLDING
Pursuant to the notification obligations under A rticle 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
15 pence each in the Company (Shares).
Saga Transformation Plan
Following the approval of the Company's Saga Transformation Plan
(the STP) by the Company's shareholders at the 2022 Annual General
Meeting (the 2022 AGM), the Company hereby announces the grant of
awards to Executive Directors under the STP.
Participation Rights under the STP entitle the participant to
receive, subject to the rules of the STP, a proportion (the
Participant Proportion) of the Company's Total Shareholder Return
above the qualifying hurdle of GBP6.00.
This value will be delivered through the grant of nil-cost
options over Shares after a 5-year performance period.
More details of how the STP operates can be found in the Notice
of 2022 AGM which can be found on our website at
www.corporate.saga.co.uk/investors/agm.
Details of the award for the Chief Executive Officer and Chief
Financial Officer are outlined below.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name 1. Euan Sutherland
2. James Quin
----------------------------------- -------------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------
a) Position/status 1. Director, Group Chief Executive Officer
2. Director, Group Chief Financial Officer
----------------------------------- -------------------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name Saga plc
----------------------------------- -------------------------------------------------------
b) LEI 2138004WWUJN94K2LH95
----------------------------------- -------------------------------------------------------
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 Ordinary shares of 15 pence
the financial
instrument, type
of instrument
Identification
code
----------------------------------- -------------------------------------------------------
GB00BMX64W89
----------------------------------- -------------------------------------------------------
b) Nature of the 1. Grant of a conditional right, subject
transaction to the rules of the STP, to receive the
value by which the Company's Total Shareholder
Return exceeds the qualifying hurdle of
GBP6.00, multiplied by 12.5% to form the
STP Pool. This is then multiplied by a
Participation Proportion of 17.5%* (the
C EO Award Value ). The C EO Award Value
will be delivered following the assessment
of the Company's total shareholder return
after the 5-year performance period by
the grant of a nil-cost option over Shares.
2. Grant of a conditional right, subject
to the rules of the STP, to receive the
value by which the Company's Total Shareholder
Return exceeds the qualifying hurdle of
GBP6.00, multiplied by 12.5% to form the
STP Pool. This is then multiplied by a
Participation Proportion of 10.5%* (the
CFO Award Value). The CFO Award Value will
be delivered following the assessment of
the Company's total shareholder return
after the 5 year performance period by
the grant of a nil-cost option over Shares.
=================================== =======================================================
c) Price(s) and volume(s) Price(s) Volume(s)
=== =================================== --------------------------- --------------------------
1. GBPNil 1. Nil
2. GBPNil 2. Nil
=== =================================== =========================== ==========================
d) Aggregated information
- Aggregated volume n/a
- Price
----------------------------------- -------------------------------------------------------
e) Date of the transaction 7 July 2022
=== =================================== =======================================================
f) Place of the transaction London
----------------------------------- -------------------------------------------------------
*The Participation Proportion for the CEO and CFO as stated in
the Directors' Remuneration Policy has been reduced by 0.5% each,
following a request from the CEO and CFO to ensure there is
sufficient capacity for other participants to share in the STP.
Enquiries
Saga plc Vicki Haynes
Enbrook Park Company Secretary
Sandgate 01303 771 199
Folkestone
Kent
CT20 3SE
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END
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