TIDMFSJ

RNS Number : 6341A

Fisher (James) & Sons plc

02 June 2021

2 June 2021

JAMES FISHER AND SONS PLC

Notification of Directors' Interest in Shares

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

Following Duncan Kennedy's recent appointment to the Board as Chief Financial Officer, awards over ordinary shares of 25p each in James Fisher and Sons plc (the "Company") were made under the James Fisher and Sons 2015 Long Term Incentive Plan, on 28 May 2021 as follows:

 
      PDMR         Number of Shares held under 
                              award 
 Duncan Kennedy              35,790 
                  ---------------------------- 
 

Notes:

No consideration was paid for the grant of the awards which are structured as nil cost restricted share awards.

The awards will normally vest on the 28 May 2024 subject to the satisfaction of the performance conditions set by the Remuneration Committee of the Company.

The vesting of 70 per cent. of such awards (the "EPS Part") is subject to targets measuring the (end to end) percentage growth in the Company's EPS over the period 1 January 2021 to 31 December 2023. One quarter of the EPS Part will vest for EPS growth over the measurement period of 25 percent and thereafter on a straight line basis to full vesting of the EPS Part for EPS growth over the measurement period of 67 percent (or better).

The vesting of 30 per cent. of such awards (the "TSR Part") is subject to the Company's total shareholder return ("TSR") performance over a three year period relative to the TSR performance over the same period of the constituents of the FTSE 250 Index (excluding investment trusts and the Company) as the start of the measurement period. One quarter of the TSR Part will vest for median ranking performance and thereafter on a straight line basis to full vesting of the TSR Part for upper quartile ranking (or better) relative TSR performance.

In line with the Remuneration Policy approved by shareholders at the 2018 AGM a two-year post-vesting holding period will apply to this award.

Furthermore, the Remuneration Committee retains the discretion to adjust the Awards at vesting to ensure that all relevant factors are taken into account, including the consideration of any windfall gains.

Details of the full notifications received by the Company are set out below.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                              Duncan Kennedy 
      --------------------------------  ---------------------------------------- 
 2     Reason for Notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                   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                              James Fisher and Sons plc 
      --------------------------------  ---------------------------------------- 
 b)    LEI                               213800J975E5OYR6S216 
      --------------------------------  ---------------------------------------- 
 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 25 pence each in 
        instrument, type of               James Fisher and Sons plc 
        instrument                        GB0003395000 
        Identification code 
      --------------------------------  ---------------------------------------- 
 b)    Nature of the transaction         Grant of a restricted share award under 
                                          the James Fisher and Sons 2015 Long 
                                          Term Incentive Plan. The award will 
                                          ordinarily vest on 28 May 2024. 
      --------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)             Price(s)    Volume(s) 
                                           Nil         35,790 
                                                      ---------- 
      --------------------------------  ---------------------------------------- 
            Aggregated information 
              *    Aggregated volume 
 
 
 d)           *    Price                   35,790 
      --------------------------------  ---------------------------------------- 
 e)    Date of the transaction           28 May 2021 
      --------------------------------  ---------------------------------------- 
 f)    Place of the transaction          Outside a trading venue 
      --------------------------------  ---------------------------------------- 
 

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END

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June 02, 2021 11:16 ET (15:16 GMT)

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