SFR Severfield Plc

TIDMSFR

RNS Number : 6484Q

Severfield PLC

29 June 2022

29(th) June 2022

Severfield plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification relates to the vesting and exercise of nil cost options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28(th) June 2019. These options vested on 28 June 2022 and were exercised and settled as set out below.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they were allocated shares out of the Severfield EBT and some of these were then sold to settle their tax liability with the remainder then being sold and the cash value transferred to the director.

This only applied to directors who already satisfy the Company's shareholding requirement for executive directors.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit with shares out of the Severfield EBT being sold to settle their tax liability.

 
  Name              Number of shares     Number of shares    Shares sold to    Cash paid to          Shares retained 
                    awarded on 28        vested and          settle tax        participant after     by individual 
                    June 2019            exercised on 28     calculated at a   tax calculated at 
                                         June 2022 after     share price of    a share price of 
                                         dividend            GBP0.62           GBP0.62 
                                         equivalent 
                                         adjustment 
  Derek Randall      111,521             125,827             49,073            GBP47,587             0 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
  Adam Semple        31,884              35,974              17,357            n/a                   18,617 
                  -------------------  ------------------  ------------------  ------------------  ------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                                      Derek Randall 
      --------------------------------------------------------  ------------------------------------------------------ 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------------------------------------- 
 a)    Position/status                                           Director 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    Initial notification/Amendment                            Initial notification 
      --------------------------------------------------------  ------------------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                      Severfield plc 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    LEI                                                       21380025AWPR781CY104 
      --------------------------------------------------------  ------------------------------------------------------ 
 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 instrument, type of           Ordinary shares of 2.5p 
       instrument                                                  GB00B27YGJ97 
       Identification code 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    Nature of the transaction                                 Exercise of DSBP award and sale of shares to settle 
                                                                 tax liability with an after tax cash 
                                                                 payment. 
      --------------------------------------------------------  ------------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price      Volume     Total 
                                                                    GBP0.62    125,827    GBP78,013 
                                                                             ---------  ----------- 
      --------------------------------------------------------  ------------------------------------------------------ 
 d)    Aggregated information -   Aggregated volume              Not applicable-single transaction 
 
         -   Price 
      --------------------------------------------------------  ------------------------------------------------------ 
 e)    Date of the transaction                                   2022-06-28 
      --------------------------------------------------------  ------------------------------------------------------ 
 f)    Place of the transaction                                  XLON 
      --------------------------------------------------------  ------------------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                                      Adam Semple 
      --------------------------------------------------------  ------------------------------------------------------ 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------------------------------------- 
 a)    Position/status                                           Finance director 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    Initial notification/Amendment                            Initial notification 
      --------------------------------------------------------  ------------------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                      Severfield plc 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    LEI                                                       21380025AWPR781CY104 
      --------------------------------------------------------  ------------------------------------------------------ 
 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 instrument, type of           Ordinary shares of 2.5p 
       instrument                                                  GB00B27YGJ97 
       Identification code 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    Nature of the transaction                                 Exercise of DSBP award and settlement of that 
                                                                 exercise by selling some shares to pay for 
                                                                 tax and share transfer to the value of the after tax 
                                                                 benefit. 
      --------------------------------------------------------  ------------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price     Volume   Total 
                                                                    GBP0.62   17,357   GBP10,761 
                                                                             -------  ---------- 
      --------------------------------------------------------  ------------------------------------------------------ 
 d)    Aggregated information -   Aggregated volume              Not applicable-single transaction 
 
         -   Price 
      --------------------------------------------------------  ------------------------------------------------------ 
 e)    Date of the transaction                                   2022-06-28 
      --------------------------------------------------------  ------------------------------------------------------ 
 f)    Place of the transaction                                  XLON 
      --------------------------------------------------------  ------------------------------------------------------ 
 

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June 29, 2022 07:01 ET (11:01 GMT)