TIDMESKN

RNS Number : 4110W

Esken Limited

22 December 2021

22 December 2021

Esken Limited

("Esken" and the "Company")

Director/PDMR Shareholding

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

LTIP Awards in respect of FY22

Esken has granted long-term incentive awards in respect of the financial year ended 28 February 2022 over its ordinary shares under the Esken Limited Long Term Incentive Plan 2020 (the "LTIP"), as follows:

 
 Name                               Number of shares subject to 
                                     award 
 Nick Dilworth, Chief Operating 
  Officer (200% of salary)          4,820,144(1) 
                                   ---------------------------- 
 Lewis Girdwood, Chief Financial 
  Officer (200% of salary)          4,820,144(1) 
                                   ---------------------------- 
 

1 The number of shares comprised in awards have been based on a price for Esken's ordinary shares of 13.9 pence (being the average price in the three-day period leading up to the Remuneration Committee's meeting approving the awards.

As with the awards in respect of the Company's 2021 financial year made in September 2021, the Remuneration Committee of the Company has approved a wholly TSR-based performance measure for these awards on the basis that this would be closely aligned to shareholder interests. The performance targets attached to these awards are linked to an increase in the price of the Company's ordinary shares measured over the Company's 2022, 2023 and 2024 financial years (i.e. from 1 March 2021 to 28 February 2024), subject to a general financial performance underpin, as set out in the table below (with straight-line vesting between these points):

 
     Vesting              Esken's share price 
 25% of maximum    a share price of 20.0p at vesting 
                  ---------------------------------- 
 100% of maximum   a share price of 30.0p at vesting 
                  ---------------------------------- 
 

In assessing whether or not a particular share price has been achieved the Remuneration Committee will also take in to account the per share value of any dividend paid on ordinary shares during the performance period assuming that the dividend was reinvested into ordinary shares on the ex-dividend date.

Enquiries:

 
Esken Limited                          C/O Tulchan Communications 
 Charlie Geller, Communications 
 Director 
 C/O Tulchan Communications 
 Tulchan Communications                 020 7353 4200 
  Olivia Peters/David Allchurch/Giles    esken@tulchangroup.com 
  Kernick 
 

FY22 LTIP awards

 
 1     Details of the person discharging managerial responsibilities / person closely associated 
 (a)   Name 
                                                         (i) Nick Dilworth 
 
                                                         (ii) Lewis Girdwood 
      ----------------------------------------------  ------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------------- 
 (a)   Position/Status 
                                                         (ii) Chief Operating Officer 
 
                                                         (iii) 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                                            Esken Limited 
      ----------------------------------------------  ------------------------------------------------- 
 (b)   LEI                                             213800BINQVRZFKA3E89 
      ----------------------------------------------  ------------------------------------------------- 
 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                              Ordinary Shares of 10p each in the 
        financial instrument,                           capital of Esken Limited 
        type of instrument 
                                                        ISIN: GB00B03HDJ73 
        Identification Code 
      ----------------------------------------------  ------------------------------------------------- 
 (b)   Nature of the transaction                       Grant of FY22 awards under the Esken 
                                                        Limited Long Term Incentive Plan 2020 
      ----------------------------------------------  ------------------------------------------------- 
 (c)   Price(s) and volume(s)                          Price: Nil           Volumes: 
 
                                                                             (i) 4,820,144 
 
                                                                             (ii) 4,820,144 
      ----------------------------------------------  -------------------  ---------------------------- 
 (d)   Aggregated Information                          N/A 
        - Aggregated Volume 
        - Price 
      ----------------------------------------------  ------------------------------------------------- 
 (e)   Date of the Transaction                         21 December 2021 
      ----------------------------------------------  ------------------------------------------------- 
 (f)   Place of the Transaction                        Outside a trading venue 
      ----------------------------------------------  ------------------------------------------------- 
 

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END

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