De La Rue PLC Director/PDMR Shareholding (7456D)
01 Julio 2021 - 2:00AM
UK Regulatory
TIDMDLAR
RNS Number : 7456D
De La Rue PLC
01 July 2021
De La Rue plc
Director/PDMR Shareholding
Notification of transactions by persons discharging managerial
responsibilities and persons closely associated with them
1 July 2021
De La Rue plc (the "Company") announces that on 30 June 2021 it
granted awards under the De La Rue Performance Share Plan 2020 (the
"PSP") to Clive Vacher, Rob Harding and Ruth Euling, each of whom
is an Executive Director and a Person Discharging Managerial
Responsibilities ("PDMR") of the Company. The granting of the
awards creates a change in the interests of each of them in the
ordinary shares of 44(152) /(175) p of the Company ("Shares"). The
awards, which were structured as a nil-cost option (each an
"Option"), were granted under the rules of the PSP as follows:
Name of Director/PDMR Role Number of Shares subject
to the Option
Clive Vacher CEO 239,361
-------------- -------------------------
Rob Harding CFO 146,276
-------------- -------------------------
Ruth Euling MD, Currency 135,586
-------------- -------------------------
The Options were granted on 30 June 2021 (the "Award Date"). The
number of Shares contained in each Option was calculated by
reference to a price of 191.76 pence, being the average of the
closing middle market quotations for the Company's Shares for the
five consecutive dealing days ending on 29 June 2021.
Each Option was granted such that vesting is subject to two
equally-weighted performance conditions, which will be assessed
independently, as outlined below:
Performance metric Proportion Below Threshold Threshold Maximum
Outcome 0% vesting 25% vesting 100% vesting
----------- ---------------- ------------ ---------------
Average annual
cumulative EPS
Growth over the
three financial
years 21/22 to
23/24 50% <8.5% 8.5% 16.7%
----------- ---------------- ------------ ---------------
TSR vs FTSE 250
constituents, over
3 years ending
31 May 2024 50% Below Median Median Upper Quartile
----------- ---------------- ------------ ---------------
Performance between the Threshold and Maximum levels will result
in a pro-rata increase in the number of Shares vesting, on a
straight-line basis. Performance beyond the Maximum level will not
result in any additional vesting.
The performance conditions are subject to an underpin , which
provides the Remuneration Committee with discretion to adjust or
over-ride the formulaic outcome and determine the number of Shares
in respect of which the Option will v est, taking into account such
factors it may in its discretion determine, potentially including
the underlying performance of the Group and the Participant's
individual performance .
To the extent that an Option vests, it is subject to a further
holding period of two years, during which time it will not be
capable of exercise. This means that, i n line with the UK
Corporate Governance Code, each Option will be subject to an
aggregate vesting and holding period of five years.
The number of Shares shown in the first table above represents
the maximum that may be acquired if all performance conditions are
achieved in full. The Company may also transfer additional Shares
to reflect the value of dividends that would have been paid on the
Shares in respect of which the Option vests over the period between
the Award Date and the end of the post-vesting holding period.
The relevant information set out below is provided in accordance
with the requirements of Article 19 of the Market Abuse Regulation
as retained in UK law.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Clive Vacher
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Executive Director/Chief Executive
Officer
----------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name De La Rue plc
----------------------------- ----------------------------------------
b) LEI 213800DH741LZWIJXP78
----------------------------- ----------------------------------------
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 44(152) /(175)
instrument, type of p
instrument
Identification code GB00B3DGH821
----------------------------- ----------------------------------------
b) Nature of the transaction Grant of a nil-cost option over 239,361
Shares under the rules of the De
La Rue Performance Share Plan 2020.
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 239,361
----------
----------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
- Aggregated total
----------------------------- ----------------------------------------
e) Date of the transaction 30 June 2021
----------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rob Harding
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Executive Director/Chief Financial
Officer
----------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name De La Rue plc
----------------------------- ----------------------------------------
b) LEI 213800DH741LZWIJXP78
----------------------------- ----------------------------------------
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 44(152) /(175)
instrument, type of p
instrument
Identification code GB00B3DGH821
----------------------------- ----------------------------------------
b) Nature of the transaction Grant of a nil-cost option over 146,276
Shares under the rules of the De
La Rue Performance Share Plan 2020.
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 146,276
----------
----------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
- Aggregated total
----------------------------- ----------------------------------------
e) Date of the transaction 30 June 2021
----------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ruth Euling
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Executive Director/MD, Currency
----------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name De La Rue plc
----------------------------- ----------------------------------------
b) LEI 213800DH741LZWIJXP78
----------------------------- ----------------------------------------
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 44(152) /(175)
instrument, type of p
instrument
Identification code GB00B3DGH821
----------------------------- ----------------------------------------
b) Nature of the transaction Grant of a nil-cost option over 135,586
Shares under the rules of the De
La Rue Performance Share Plan 2020.
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 135,586
----------
----------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
- Aggregated total
----------------------------- ----------------------------------------
e) Date of the transaction 30 June 2021
----------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ----------------------------------------
Jane Hyde, Company Secretary
Contact Number: 01256 605212
1 July 2021
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
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END
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July 01, 2021 03:00 ET (07:00 GMT)
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