TIDMJET2
RNS Number : 0356G
Jet2 PLC
21 July 2021
21 July 2021
Jet2 plc
("Jet2", the "Group" or the "Company")
Grant of Options under Share Reward Plan
and Vesting of Deferred Awards under Senior Executive Incentive
Plan
Jet2 plc, the Leisure Travel group, announces that it has
implemented a new Share Reward Plan (the "Plan"). The Plan is
intended to ensure that the recipients have both a straightforward
retention mechanism in place and that they also have direct
alignment with shareholders in the period, as we seek to drive the
business recovery of the Company. Further details of the Plan will
be included in the Remuneration Committee Report within the
Company's Annual Report and Accounts for the financial year ended
31 March 2021.
Awards under the Plan take the form of options to acquire the
Company's ordinary shares of 1.25p each ("Ordinary Shares") which
will be exercisable upon payment of the nominal value of the
Ordinary Shares from the date which is three years following the
date of grant and will lapse ten years from the anniversary of the
date of grant. Recipients must be employed and not be under notice
given or received at vesting and must have worked and contributed
throughout the vesting period.
The Company has today granted 1,213,000 options under the Plan
representing 0.57% of the Company's issued share capital, being
within the 10% in 10 years share plans dilution limit.
Details of the awards to PDMRs under the Plan are as
follows:
Director Number of Options issued under
the Plan
Stephen Heapy, Chief Executive
Officer 136,000
--------------------------------
Gary Brown, Group Chief Financial
Officer 105,000
--------------------------------
The awards to our Chief Executive Officer and Group Chief
Financial Officer under the Plan, are the first awards (beyond part
deferral of bonus outcomes awarded previously as deferred shares
under the Senior Executive Incentive (Deferred Award) Plan
("SEIP")) which they have received since their last awards under
the SEIP in July 2019.
In addition, on 20 July 2021, Stephen Heapy and Gary Brown
subscribed for 20,421 and 19,156 Ordinary Shares at 1.25p per
Ordinary Share, respectively, pursuant to the vesting of a deferred
award granted under the SEIP, representing the deferred element of
the bonus earned for the financial year ended 31 March 2018.
In order to fund only the income tax, National Insurance
liabilities and administrative fees arising on vesting, Stephen
Heapy and Gary Brown subsequently sold 9,867 and 9,256 Ordinary
Shares at GBP10.50 per Ordinary Share and retained the balance of
10,554 and 9,900 Ordinary Shares, respectively.
Following these transactions, Mr Heapy beneficially holds a
total of 261,165 Ordinary Shares, representing approximately 0.12%
of the Company's issued share capital, and Mr Brown beneficially
holds a total of 90,576 Ordinary Shares, representing approximately
0.04% of the Company's issued share capital.
The notifications below, made in accordance with the
requirements of the UK version of Regulation (EU) No 596/2014,
provide further details.
For further information, please contact:
Jet2 plc Tel: 0113 239 7692
Philip Meeson, Executive Chairman
Ian Day, Company Secretary
Cenkos Securities plc - Nominated Tel: 020 7397 8900
Adviser
Katy Birkin/Camilla Hume
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Heapy
---------------------------------------- ---------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status 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 Jet2 plc
---------------------------------------- ---------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ---------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ---------------------------------
Identification code GB00B1722W11
---------------------------------------- ---------------------------------
b) Nature of the transaction Grant of options under the
Company's Share Reward Plan
---------------------------------------- ---------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ----------------- --------------
GBP0.0125 136,000
--------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
---------------------------------------- ---------------------------------
Aggregated volume N/A single transaction
---------------------------------------- --------------------------------------
Price N/A single transaction
---------------------------------------- --------------------------------------
e) Date of the transaction 21 July 2021
---------------------------------------- ---------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------------- ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gary Brown
---------------------------------------- ---------------------------------
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 Jet2 plc
---------------------------------------- ---------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ---------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ---------------------------------
Identification code GB00B1722W11
---------------------------------------- ---------------------------------
b) Nature of the transaction Grant of options under the
Company's Share Reward Plan
---------------------------------------- ---------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ----------------- --------------
GBP0.0125 105,000
--------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
---------------------------------------- ---------------------------------
Aggregated volume N/A single transaction
---------------------------------------- --------------------------------------
Price N/A single transaction
---------------------------------------- --------------------------------------
e) Date of the transaction 21 July 2021
---------------------------------------- ---------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------------- ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Heapy
---------------------------------------- ------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status 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 Jet2 PLC
---------------------------------------- ------------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ------------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ------------------------------------
Identification code GB00B1722W11
---------------------------------------- ------------------------------------
b) Nature of the transaction Subscription for shares pursuant
to the vesting of a deferred
award granted under the Senior
Executive Incentive (Deferred
Award) Plan representing the
deferred element of the bonus
earned for the financial year
ended 31 March 2018
---------------------------------------- ------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ------------------- ---------------
GBP0.0125 20,421
----------------------------------------------------------------- ---------------
d) Aggregated information N/A single transaction
---------------------------------------- ------------------------------------
Aggregated volume N/A single transaction
---------------------------------------- -----------------------------------------
Price N/A single transaction
---------------------------------------- -----------------------------------------
e) Date of the transaction 20 July 2021
---------------------------------------- ------------------------------------
f) Place of the transaction XOFF
---------------------------------------- ------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Heapy
---------------------------------------- ---------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------
a) Position/status 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 Jet2 plc
---------------------------------------- ---------------------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ---------------------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ---------------------------------------------
Identification code GB00B1722W11
---------------------------------------- ---------------------------------------------
b) Nature of the transaction Sale of Ordinary Shares received
pursuant to the vesting of
a deferred award under the
Senior Executive Incentive
(Deferred Award) Plan to fund
only the income tax and National
Insurance liabilities and administrative
fees arising on vesting. The
balance of 10,554 Ordinary
Shares has been retained.
---------------------------------------- ---------------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ---------------------- ---------------------
GBP10.50 9,867
-------------------------------------------------------------------- ---------------------
d) Aggregated information N/A single transaction
---------------------------------------- ---------------------------------------------
Aggregated volume N/A single transaction
---------------------------------------- --------------------------------------------------
Price N/A single transaction
---------------------------------------- --------------------------------------------------
e) Date of the transaction 20 July 2021
---------------------------------------- ---------------------------------------------
f) Place of the transaction XOFF
---------------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gary Brown
---------------------------------------- ------------------------------------
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 Jet2 plc
---------------------------------------- ------------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ------------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ------------------------------------
Identification code GB00B1722W11
---------------------------------------- ------------------------------------
b) Nature of the transaction Subscription for shares pursuant
to the vesting of a deferred
award granted under the Senior
Executive Incentive (Deferred
Award) Plan representing the
deferred element of the bonus
earned for the financial year
ended 31 March 2018
---------------------------------------- ------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ------------------- ---------------
GBP0.0125 19,156
----------------------------------------------------------------- ---------------
d) Aggregated information N/A single transaction
---------------------------------------- ------------------------------------
Aggregated volume N/A single transaction
---------------------------------------- -----------------------------------------
Price N/A single transaction
---------------------------------------- -----------------------------------------
e) Date of the transaction 20 July 2021
---------------------------------------- ------------------------------------
f) Place of the transaction XOFF
---------------------------------------- ------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gary Brown
---------------------------------------- ---------------------------------------------
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 Jet2 plc
---------------------------------------- ---------------------------------------------
b) LEI I72RQ3PNLDPW8R7JIJ56
---------------------------------------- ---------------------------------------------
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 1.25p each
instrument, type of instrument
---------------------------------------- ---------------------------------------------
Identification code GB00B1722W11
---------------------------------------- ---------------------------------------------
b) Nature of the transaction Sale of Ordinary Shares received
pursuant to the vesting of
a deferred award under the
Senior Executive Incentive
(Deferred Award) Plan to fund
only the income tax and National
Insurance liabilities and administrative
fees arising on vesting. The
balance of 9,900 Ordinary Shares
has been retained.
---------------------------------------- ---------------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ---------------------- ---------------------
GBP10.50 9,256
-------------------------------------------------------------------- ---------------------
d) Aggregated information N/A single transaction
---------------------------------------- ---------------------------------------------
Aggregated volume N/A single transaction
---------------------------------------- --------------------------------------------------
Price N/A single transaction
---------------------------------------- --------------------------------------------------
e) Date of the transaction 20 July 2021
---------------------------------------- ---------------------------------------------
f) Place of the transaction XOFF
---------------------------------------- ---------------------------------------------
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