TIDMDWF

RNS Number : 9505I

DWF Group PLC

17 August 2021

DWF Group plc

("DWF" or "the Company")

LEI: 213800O9QREOHTOGQ266

17 August 2021

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs')

On 16 August 2021, the Company granted to each of the PDMRs listed in the table below a LTIP award over such number of Ordinary Shares of 1p each in the Company (Shares) as is set out below (the Awards). The Awards are conditional awards granted under the DWF Group plc Equity Incentive Plan (the EIP).

 
 Name                 Maximum number of Shares under 
                                   Award 
                      ------------------------------ 
 Executive Director 
--------------------  ------------------------------ 
 Sir Nigel Knowles               819,346 
--------------------  ------------------------------ 
 Chris Stefani                   353,356 
--------------------  ------------------------------ 
 Matthew Doughty                 331,272 
--------------------  ------------------------------ 
 

The Awards will vest after three years, in accordance with the EIP rules, subject to continued employment and the satisfaction of the performance conditions relating to earnings per share ("EPS") growth, return on capital employed ("ROCE") growth and cash conversion rate over a three-year performance period from 1 May 2021 to 30 April 2024.

The performance targets for the LTIP awards are set out below:

 
  Performance condition     Threshold   Target   Maximum 
     and percentage of        (20%)      (50%)    (100%) 
     award opportunity 
  Cumulative three-year 
    EPS (40% weighting)       33.8p     37.6p     41.3p 
                           ----------  -------  -------- 
   Average annual ROCE 
      (40% weighting)          26%       29%       32% 
                           ----------  -------  -------- 
 Average cash conversion 
      (20% weighting)          82%       91%      101% 
                           ----------  -------  -------- 
 

In accordance with the EIP rules, the vested Shares will be subject to a two-year holding period before the Shares are released. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of GBP1.132 was used.

On 16 August 2021, the Company also granted to each of the PDMRs listed in the table below a Deferred Bonus Plan Award over such number of Shares as is set out below (the "DBP Awards"). The DBP Awards represent 50% of the bonus awarded for the period up to 30 April 2021. The DBP Awards are conditional awards granted under the DWF Group plc Deferred Bonus Plan or the DWF LLP Sub-group Deferred Bonus Plan (the "DBP").

 
 Name                 Maximum number of Shares under 
                                   Award 
                      ------------------------------ 
 Executive Director 
--------------------  ------------------------------ 
 Sir Nigel Knowles               130,300 
--------------------  ------------------------------ 
 Chris Stefani                   130,300 
--------------------  ------------------------------ 
 Matthew Doughty                 130,299 
--------------------  ------------------------------ 
 Michele Cicchetti                56,349 
--------------------  ------------------------------ 
 

The DBP Awards will vest after three years, in accordance with the DBP rules, subject to continued employment. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the volume weighted average price for the 5 days immediately preceding the date of grant of GBP1.132 was used.

The notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

For further information please contact:

 
 Darren Drabble       +44 (0)20 7280 8929 
 Company Secretary 
 
 
1    Details of the person discharging managerial responsibilities/person 
      closely associated 
a)   Name                                               Sir Nigel Knowles 
2    Reason for the notification 
a)   Position/status                                    Group Chief Executive 
                                                         Officer 
b)   Initial notification /Amendment                    Initial notification 
3    Details of the issuer, emission allowance market participant, 
      auction platform, auctioneer or auction monitor 
a)   Name                                               DWF Group plc 
b)   Legal Entity Identifier                            213800O9QREOHTOGQ266 
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,            Ordinary shares of GBP0.01 
      type of instrument                                  each 
      Identification code                                 ISIN: GB00BJMD6M39 
b)   Nature of the transaction                          Grant of conditional 
                                                         awards over such number 
                                                         of Ordinary Shares of 
                                                         1p each under the EIP 
                                                         and DBP 
c)   Currency                                           GBP 
d)   Price(s) and volume(s)                             Price(s)         Volume(s) 
  nil                                                                    819,346 
  nil                                                                    130,300 
e)   Aggregated information                              n/a 
      - Aggregated volume 
      - Aggregated Price 
      - Aggregated Total 
f)   Date of the transaction                            2021-08-16 
g)   Place of the transaction                           Outside of a trading 
                                                         venue 
 
 
1    Details of the person discharging managerial responsibilities/person 
      closely associated 
a)   Name                                               Chris Stefani 
2    Reason for the notification 
a)   Position/status                                    Chief Financial Officer 
b)   Initial notification /Amendment                    Initial notification 
3    Details of the issuer, emission allowance market participant, 
      auction platform, auctioneer or auction monitor 
a)   Name                                               DWF Group plc 
b)   Legal Entity Identifier                            213800O9QREOHTOGQ266 
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,            Ordinary shares of GBP0.01 
      type of instrument                                  each 
      Identification code                                 ISIN: GB00BJMD6M39 
b)   Nature of the transaction                          Grant of conditional 
                                                         awards over such number 
                                                         of Ordinary Shares of 
                                                         1p each under the EIP 
                                                         and DBP 
c)   Currency                                           GBP 
d)   Price(s) and volume(s)                             Price(s)         Volume(s) 
  nil                                                                    353,356 
  nil                                                                    130,300 
e)   Aggregated information                              n/a 
      - Aggregated volume 
      - Aggregated Price 
      - Aggregated Total 
f)   Date of the transaction                            2021-08-16 
g)   Place of the transaction                           Outside of a trading 
                                                         venue 
 
 
1    Details of the person discharging managerial responsibilities/person 
      closely associated 
a)   Name                                               Matthew Doughty 
2    Reason for the notification 
a)   Position/status                                    Group Chief Operating 
                                                         Officer 
b)   Initial notification /Amendment                    Initial notification 
3    Details of the issuer, emission allowance market participant, 
      auction platform, auctioneer or auction monitor 
a)   Name                                               DWF Group plc 
b)   Legal Entity Identifier                            213800O9QREOHTOGQ266 
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,            Ordinary shares of GBP0.01 
      type of instrument                                  each 
      Identification code                                 ISIN: GB00BJMD6M39 
b)   Nature of the transaction                          Grant of conditional 
                                                         awards over such number 
                                                         of Ordinary Shares of 
                                                         1p each under the EIP 
                                                         and DBP 
c)   Currency                                           GBP 
d)   Price(s) and volume(s)                             Price(s)         Volume(s) 
  nil                                                                    331,272 
  nil                                                                    130,299 
e)   Aggregated information                              n/a 
      - Aggregated volume 
      - Aggregated Price 
      - Aggregated Total 
f)   Date of the transaction                            2021-08-16 
g)   Place of the transaction                           Outside of a trading 
                                                         venue 
 
 
1    Details of the person discharging managerial responsibilities/person 
      closely associated 
a)   Name                                               Michele Cicchetti 
2    Reason for the notification 
a)   Position/status                                    Partner Director 
b)   Initial notification /Amendment                    Initial notification 
3    Details of the issuer, emission allowance market participant, 
      auction platform, auctioneer or auction monitor 
a)   Name                                               DWF Group plc 
b)   Legal Entity Identifier                            213800O9QREOHTOGQ266 
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,            Ordinary shares of GBP0.01 
      type of instrument                                  each 
      Identification code                                 ISIN: GB00BJMD6M39 
b)   Nature of the transaction                          Grant of conditional 
                                                         awards over such number 
                                                         of Ordinary Shares of 
                                                         1p each under the DBP 
c)   Currency                                           GBP 
d)   Price(s) and volume(s)                             Price(s)         Volume(s) 
  nil                                                                    56,349 
e)   Aggregated information                              n/a 
      - Aggregated volume 
      - Aggregated Price 
      - Aggregated Total 
f)   Date of the transaction                            2021-08-16 
g)   Place of the transaction                           Outside of a trading 
                                                         venue 
 

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August 17, 2021 12:17 ET (16:17 GMT)

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