Brady PLC (LON:BRY)

Brady PLC (LON:BRY)


Share Price
57.00 p
Change
-0.25 (-0.44 %)
Market Cap
£47.52 m
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Brady PLC RNS Release

Director/PDMR Shareholding


RNS Number : 2820L
Brady plc
21 December 2018
 

21 December 2018

Brady plc

("Brady" or the "Company")

Director / PDMR Dealings


Brady plc, a leading global provider of trading, risk management and settlement solutions to the commodity and energy markets, announces that the following Directors, Persons Discharging Managerial Responsibility ("PDMR") and certain senior employees have been granted nil cost options over a total of 1,324,225 new ordinary shares of 1 pence each in the capital of the Company ("Options"), under the Company's 2015 Long Term Incentive Plan ("LTIP"), as announced on 23 September 2015. The Options have a two-year holding period and will vest subject to the achievement of certain EBITDA and EPS targets, which are detailed in the table below.

Name

Position

Options

Granted

Total number

of Options Held

Ian Jenks

Executive Chairman

506,250

506,250

Martin Thorneycroft

Chief Financial Officer

320,742

442,742

Elizabeth Koehn

PDMR

265,625

265,625

Rebecca Wright

Chief Legal Officer and Company Secretary

44,419

44,419

Fabienne Kangayan

PDMR

28,750

28,750

Derek Wilson

PDMR

17,969

17,969

Claire Rosser

PDMR

58,594

58,594

 

In addition, the Company has granted conditional share awards ("Awards") over 102,848 new Ordinary Shares under the Company's 2015 LTIP, to Scott Hestenes, PDMR, and a senior employee. The Awards are subject to the same EBITDA and EPS performance targets as the Options, as well as the two-year holding period.

Name

Position

Awards

Granted

Total number

of Awards Held

Scott Hestenes

PDMR

85,735

122,735

 

Following these grants, there are a total of 2,739,541 outstanding Options and Awards equivalent to 3.3% of the Company's issued share capital. 

Performance Targets  

Fifty percent (50%) of the grant is measured against growth in Adjusted EPS and fifty percent (50%) is measured against growth in Adjusted EBITDA. Growth in Adjusted EPS and growth in Adjusted EBITDA and will be measured from the base Financial Year 2018 over three consecutive Financial Years. The Options / Awards will Vest as follows:

Growth Rate

Financial Year 2020
EBITDA
£'000

Financial Year 2020
EPS

(pence)

Vesting % of Award

Threshold %

4,000

1.85

25%

Good %

4,333

2.02

50%

Strong %

4,667

2.19

75%

Outstanding %

5,000

2.37

100%

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

(1)   Ian Jenks

(2)   Martin Thorneycroft

(3)   Elizabeth Koehn

(4)   Rebecca Wright

(5)   Fabienne Kangayan

(6)   Derek Wilson

(7)   Claire Rosser

2

Reason for the notification

a)

Position/status

(1)   Executive Chairman

(2)   Chief Financial Officer

(3)   PDMR

(4)   Chief Legal Officer and Company Secretary

(5)   PDMR

(6)   PDMR

(7)   PDMR

b)

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

Brady plc

b)

LEI

213800W1KBGFLDIWNO70

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 instrument, type of instrument

 

Identification code

Ordinary shares of 1p each in the Company

 

 

GB00B0188P35

b)

Nature of the transaction

Grant of nil cost Options over Ordinary Shares of 1 pence

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

(1)   Nil cost

(2)   Nil cost

(3)   Nil cost

(4)   Nil cost

(5)   Nil cost

(6)   Nil cost

(7)   Nil cost

(1)   506,250

(2)   320,742

(3)   265,625

(4)   44,419

(5)   28,750

(6)   17,969

(7)   58,594

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

N/A - single transaction

 

e)

Date of the transaction

21 December 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Scott Hestenes

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

Brady plc

b)

LEI

213800W1KBGFLDIWNO70

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 instrument, type of instrument

 

Identification code

Ordinary shares of 1p each in the Company

 

 

GB00B0188P35

b)

Nature of the transaction

Grant of nil cost Awards over Ordinary Shares of 1 pence

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

Nil cost

85,735

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

N/A - single transaction

 

e)

Date of the transaction

21 December 2018

f)

Place of the transaction

Outside a trading venue

 

 

For further information, please contact:

Brady plc
Ian Jenks, Executive Chairman
Martin Thorneycroft, Finance Director

Telephone: +44(0)1223 479479

 
Cenkos Securities plc - NOMAD and Broker
Mark Connelly - Corporate Finance


 

Telephone: +44 (0)20 7397 8900

Newgate Communications
Bob Huxford/ Ian Silvera

Telephone: +44 (0)20 7653 9848

 

About Brady

Brady plc (BRY.L) is the largest European‐headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined, soft commodities and agriculturals.

Brady has 30 years' expertise in the commodity markets and its clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, tier one banks, a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

 

 

 

 

 


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 [email protected] or visit www.rns.com.
 
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Article
March 25 2019

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