TIDMSCS
RNS Number : 5754P
ScS Group PLC
19 October 2021
19 October 2021
ScS Group plc
Vesting of Long Term Incentive Plan 2019 (2019 LTIP) awards and
PDMR notifications
ScS Group plc (the "Company") announces that on 15 October 2021,
the Company's Employee Benefit Trust ("EBT") has transferred
276,689 ordinary shares of 0.1 pence in the Company (the "Shares")
to three PDMRs in satisfaction of vesting of share awards granted
on 15 October 2018 (the "2019 LTIP"), details of which are set out
below:
Name Number of Shares Vesting
Chris Muir, CFO 163,452
-------------------------
John Pattison, Commercial Director 68,105
-------------------------
Marie Liston, Corporate Services
Director 45,132
-------------------------
The 2019 LTIP crystallised on achieving the below performance
criteria for the period 29 July 2018 to 31 July 2021 for earnings
per share ("EPS"), as approved by the Remuneration Committee:
EPS Figure Percentage of Award that Vests
Less than 28.9 pence Nil
-----------------------------------------
28.9 pence 25%
-----------------------------------------
Greater than 28.9 pence but less than 37.0 pence Straight-line basis between 25% and 100%
-----------------------------------------
37.0 pence 100%
-----------------------------------------
The initial award provided vesting conditions on a straight-line
basis between 25% and 100% based on an EPS in 2021 from 28.9p to
37.0p. The underlying EPS as reported under IFRS 16 for the year is
41.3p, which would result in 100% award under the terms of the
LTIP. The Remuneration Committee are, however, conscious that the
award was granted before transition to IFRS 16, at a time when
there were 40,009,109 shares in issue, and that the Group has
benefited during the year from an effective tax rate lower than the
statutory rate. As a consequence, the Remuneration Committee have
recalculated EPS using the same accounting basis, number of shares
and statutory tax rate at the date of the award and based on the
vesting calculation of the adjusted EPS of 35.9p. This resulted in
an award of 89.3%.
As part of this transaction, the Company has been notified of
the following transactions:
1. Chris Muir has sold 76,822 Shares back to the EBT at a price
of 268p per Share to cover his associated tax liability from the
share award, and transferred the remaining shares to his spouse
Helen Muir, for nil consideration. Following this announcement
Chris Muir, together with persons closely associated to him, holds
137,104 ordinary shares representing circa 0.36% of the issued
share capital of the Company.
2. John Pattison has sold 32,009 Shares back to the EBT at a
price of 268p per Share to cover his associated tax liability from
the share award. Following this announcement John Pattison,
together with persons closely associated to him, holds 36,096
ordinary shares representing circa 0.09% of the issued share
capital of the Company.
3. Marie Liston has sold 21,212 Shares back to the EBT at a
price of 268p per Share to cover her associated tax liability from
the share award. Following this announcement Marie Liston, together
with persons closely associated to her, holds 141,176 ordinary
shares representing circa 0.13% of the issued share capital of the
Company.
The notifications below are provided in accordance with the
requirements of the EU Market Abuse Regulation :
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Muir
------------------------------- -------------------------------------
2 Reason for 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 ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Exercise of Share Options
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 163,452
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Muir
------------------------------- -------------------------------------
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 ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Sale of shares
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
268p 76,822
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Muir
------------------------------- -------------------------------------
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 ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Transfer of 86,630 shares to spouse
for nil consideration.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 86,630
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Helen Muir
------------------------------- ---------------------------------------------
2 Reason for Notification
------------------------------------------------------------------------------
a) Position/status Person closely associated with Chris
Muir, 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 ScS Group plc
------------------------------- ---------------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- ---------------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- ---------------------------------------------
b) Nature of the transaction Receipt of 86,630 shares following
transfer from spouse for nil consideration.
------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 86,630
----------
------------------------------- ---------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- ---------------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Pattison
------------------------------- -------------------------------------
2 Reason for Notification
----------------------------------------------------------------------
a) Position/status Commercial Director
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Exercise of options
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 68,105
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Pattison
------------------------------- -------------------------------------
2 Reason for Notification
----------------------------------------------------------------------
a) Position/status Commercial Director
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Sale of 32,009 shares.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
268p 32,009
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Marie Liston
------------------------------- -------------------------------------
2 Reason for Notification
----------------------------------------------------------------------
a) Position/status Corporate Services Director
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Exercise of options
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 45,132
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Marie Liston
------------------------------- -------------------------------------
2 Reason for Notification
----------------------------------------------------------------------
a) Position/status Corporate Services Director
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name ScS Group plc
------------------------------- -------------------------------------
b) LEI 213800LOXNVJIB4C7B98
------------------------------- -------------------------------------
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 ScS Group plc
instrument GB00BRF0TJ56
Identification code
------------------------------- -------------------------------------
b) Nature of the transaction Sale of 21,212 shares.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
268p 21,212
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 15 October 2021
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
Enquiries:
ScS Group PLC c/o Buchanan +44 (0)20 7466
Steve Carson, Chief Executive Officer 5000
Chris Muir, Chief Financial Officer
Buchanan Tel: +44 (0)20 7466 5000
Richard Oldworth scs@buchanan.uk.com
Victoria Hayns
Tilly Abraham
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