TIDMDC.
RNS Number : 3107H
Dixons Carphone PLC
02 August 2021
NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE PLAN
Dixons Carphone plc (the "Company")
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMR") and persons
closely associated with them in accordance with the Market Abuse
Regulations.
Awards under the Dixons Carphone plc Long Term Incentive Plan
2016
On 2 August 2021, the following awards over ordinary shares of
0.1 pence in the Company ("Ordinary Shares") were granted under the
Dixons Carphone plc Long Term Incentive Plan 2016 ("LTIP"):
Name of Base Salary Award Reference No. of Ordinary Vesting Date Exercise
Director for Award Value (GBP) Shares under Price
/ PDMR (GBP) Award
2 August
Alex Baldock 867,000 2,167,500 1,677,632 2024 Nil
------------ ---------------- ---------------- ------------- ---------
2 August
Bruce Marsh 415,000 1,037,500 803,018 2024 Nil
------------ ---------------- ---------------- ------------- ---------
The share price for the Awards (each a nil cost option) was
calculated using the mid-market price on the business day prior to
grant, being 30 July 2021.
The number of Ordinary Shares stated above is the maximum number
that could vest to each PDMR upon full satisfaction of the
performance conditions attaching to the Awards.
The Awards will ordinarily vest and become exercisable on 2
August 2024 (the "Vesting Date"), subject to each PDMR's continued
service with the Company and the extent to which the performance
conditions applicable to the Awards are achieved. In the case of
the awards granted to Alex Baldock and Bruce Marsh, any Ordinary
Shares which vest will be subject to an additional two-year holding
period (on a net of tax basis) from the Vesting Date.
The performance conditions applicable to the Award are two
equally weighted performance measures:
1) Relative Total Shareholder Return ("TSR")
One half of each Award is subject to the achievement of a
relative TSR performance condition, measured against a bespoke
comparator group comprised of 21 European Special Lines
Retailers[1] and other comparable companies. The starting point for
measurement will be 2 May 2021 and the closing point will be 1 May
2024 with one month averaging periods up to the beginning and end
of the performance period. 25% of this portion of the Award will
vest for achievement of median TSR versus the comparator group,
with maximum vesting at upper quartile or above and straight-line
vesting between these two points.
2) Cumulative Free Cash Flow
The other half of the Award is subject to the achievement of a
performance condition measuring the Company's cumulative free cash
flow over the three-year period starting on 2 May 2021 and ending
on 1 May 2024. 10% of this portion of the Award will vest if
cumulative free cash flow over the three-year period is GBP504m,
rising to 25% of this portion of the Award vesting if cumulative
free cash flow over the three-year period is GBP593m, and with
maximum vesting if cumulative free cash flow over the three-year
period is GBP682m or higher, and straight-line vesting between
these points.
The Remuneration Committee believes that these targets represent
a significant degree of stretch. In determining the targets, the
Committee took account of the fact that there had been a one-off
receipt of a GBP189m outstanding receivable from EE in FY21, which
would not be repeated during the FY22-24 performance period of this
award.
As at the date of this announcement, the Company has
1,166,458,443 Ordinary Shares in issue.
Details of the full notifications received by the Company are
set out below.
This announcement is made in accordance with the requirements of
Market Abuse Regulation Article 19.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alex Baldock
------------------------------- ---------------------------------------------
2 Reason for Notification
------------------------------------------------------------------------------
a) Position/status Group Chief Executive
------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Dixons Carphone plc
------------------------------- ---------------------------------------------
b) LEI 2138001E12GWLLDQQF16
------------------------------- ---------------------------------------------
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 Ordinary Shares of 0.1 pence each in
instrument, type of Dixons Carphone plc
instrument
Identification code GB00B4Y7R145
------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of a nil cost option award under
the Dixons Carphone plc Long Term Incentive
Plan. The award will ordinarily become
exercisable three years from the date
of grant, subject to the grantee's
continued service and the extent to
which the performance conditions applicable
to the award have been met, and then
may be exercised for a period of ten
years from the date of grant.
------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1,677,632
----------
------------------------------- ---------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ---------------------------------------------
e) Date of the transaction 2 August 2021
------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Bruce Marsh
------------------------------- ---------------------------------------------
2 Reason for Notification
------------------------------------------------------------------------------
a) Position/status Group Chief Financial Officer
------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Dixons Carphone plc
------------------------------- ---------------------------------------------
b) LEI 2138001E12GWLLDQQF16
------------------------------- ---------------------------------------------
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 Ordinary Shares of 0.1 pence each in
instrument, type of Dixons Carphone plc
instrument
Identification code GB00B4Y7R145
------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of a nil cost option award under
the Dixons Carphone plc Long Term Incentive
Plan. The award will ordinarily become
exercisable three years from the date
of grant, subject to the grantee's
continued service and the extent to
which the performance conditions applicable
to the award have been met, and then
may be exercised for a period of ten
years from the date of grant.
------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 803,018
----------
------------------------------- ---------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ---------------------------------------------
e) Date of the transaction 2 August 2021
------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ---------------------------------------------
Enquiries:
Sarah Thomas Deputy Company Secretary +44 (0)7401 373 188
Dan Homan Head of Investor Relations +44 (0)7401 400 442
[1] TSR comparator Group for the 2021 Award cycle: AO World,
Ceconomy AG, Dufry AG, Dunelm Group, Fenix Outdoor International
AG, Fielmann AG, FNAC Darty SA, Frasers plc, Grandvision N.V., JD
Sports Fashion, Kingfisher, Maisons Du Monde S.A., Marks &
Spencer Group., Mobilezone Holding AG, Pets At Home Group, SMCP
S.A.S., Superdry, Valora Holding AG, WH Smith, XXL ASA, Zur Rose
Group AG.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHELLFBFVLEBBK
(END) Dow Jones Newswires
August 02, 2021 12:00 ET (16:00 GMT)
Currys (LSE:CURY)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Currys (LSE:CURY)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
