TIDMSDY

RNS Number : 8517G

Speedy Hire PLC

21 July 2023

Speedy Hire Plc (the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

On 21 July 2023 awards (the "PSP Awards") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") were granted under the Company's 2014 Performance Share Plan ("PSP") to persons discharging managerial responsibilities as detailed below (the "PDMRs"). 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 Awards will become exercisable as from the third anniversary of the grant, subject to each 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 Awards will be subject to an EPS condition. 25% of this part of an award vests for EPS of 6.25 pence with full vesting of this part of an award for EPS of 8.00 pence for the financial year ending 31 March 2026. A sliding scale operates between these points; and

-- 50% of the PSP Awards 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 the date of award. 25% of this part of an 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 an 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 Awards in response to exceptional circumstances. This will include an assessment as to whether a windfall gain has occurred between grant and vesting of the 2023 award, in 2026. If the Committee determines that a windfall has occurred upon vesting, then it will consider the extent to which the number of shares vesting will be scaled back.

The PSP Awards were granted in the form of nil-cost options and remain 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                            Dan Evans 
     ------------------------------  ------------------------------------- 
 2.   Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / status               Chief Executive 
     ------------------------------  ------------------------------------- 
 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 of                  Ordinary shares of 5 pence each 
       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         1,212,284 
     ------------------------------  ------------------------------------- 
 d)    Aggregated 
         information 
                                        N/A single transaction 
             *    Aggregated volume 
 
                   *    Price 
     ------------------------------  ------------------------------------- 
 e)   Date of the transaction         2023-07-21 
     ------------------------------  ------------------------------------- 
 f)   Place of the                    Outside a trading venue 
       transaction 
     ------------------------------  ------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                            Paul Rayner 
     ------------------------------  ------------------------------------- 
 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         943,426 
     ------------------------------  ------------------------------------- 
 d)    Aggregated 
         information 
                                        N/A single transaction 
             *    Aggregated volume 
 
                   *    Price 
     ------------------------------  ------------------------------------- 
 e)   Date of the                     2023-07-21 
       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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July 21, 2023 11:10 ET (15:10 GMT)

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