TIDMSDY

RNS Number : 6072P

Speedy Hire PLC

21 June 2022

Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

On 20 June 2022 an award (the "PSP Award") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") was granted under the Company's 2014 Performance Share Plan ("PSP") to a person discharging managerial responsibilities as detailed below (the "PDMR"). The number of Shares referred to below is the maximum available if the performance conditions are met in full. In the normal course of events, the PSP Award will become exercisable as from the third anniversary of the grant, subject to the PDMR's continued service and the extent to which the following objective earnings per share ("EPS") and total shareholder return performance ("TSR") conditions have been satisfied:

-- 50% of the PSP Award will be subject to an EPS condition. 25% of this part of the award vests for EPS of 6.17 pence with full vesting of this part of the award for EPS of 7.72 pence for the financial year ending 31 March 2025. A sliding scale operates between these points; and

-- 50% of the PSP Award will be subject to a relative TSR condition based on the Group's performance against the constituents of the FTSE 250 (excluding investment trusts) measured over three years from 1 April 2022 to 31 March 2025. 25% of this part of the Award vests if the Company's TSR is ranked at the median of the TSRs of the comparator group, with full vesting of this part of the award for upper quartile performance. A sliding scale operates between these points.

In addition to the above, the Company's Remuneration Committee retains discretion to reduce the level of vesting of the PSP Award in response to exceptional circumstances .

The PSP Award was granted in the form of nil-cost option and remains subject to the rules of the PSP at all times including that awards to executive directors are subject to a two-year post vesting holding period (net of tax).

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                            James Bunn 
     ------------------------------  ------------------------------------- 
 2.   Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / status               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                            Speedy Hire Plc 
     ------------------------------  ------------------------------------- 
 b)   LEI                             213800U78SIYAZDYXM61 
     ------------------------------  ------------------------------------- 
 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                     Ordinary shares of 5 pence each 
       of the financial 
       instrument 
      Identification                  GB0000163088 
       code 
     ------------------------------  ------------------------------------- 
 b)   Nature of the                   Grant of award under the Speedy Hire 
       transaction                     Plc Performance Share Plan 2014 
     ------------------------------  ------------------------------------- 
 c)   Price(s) and                     Price(s)    Volume(s) 
       volume(s)                        Nil         747,417 
     ------------------------------  ------------------------------------- 
 d)    Aggregated 
         information 
                                        N/A single transaction 
             *    Aggregated volume 
 
                   *    Price 
     ------------------------------  ------------------------------------- 
 e)   Date of the                     2022-06-20 
       transaction 
     ------------------------------  ------------------------------------- 
 f)   Place of the                    Outside a trading venue 
       transaction 
     ------------------------------  -------------------------------------

Enquiries:

Neil Hunt

Company Secretary

Speedy Hire Plc

Telephone: 01942 720000

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END

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June 21, 2022 03:24 ET (07:24 GMT)

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