National Express (LON:NEX)

National Express (LON:NEX)


Share Price
409.00 p
Change
-7.8 (-1.87 %)
Market Cap
£21.50 m
Proactive Investors - Run By Investors For Investors

National Express RNS Release

Director/PDMR Shareholding


RNS Number : 4056W
National Express Group PLC
16 April 2019
 

 

National Express Group PLC

16 April 2019

 

NATIONAL EXPRESS GROUP PLC

 ("Company")

 

Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

 

The Company provides notification of the following transactions, effected on 16 April 2019 on the London Stock Exchange, relating to the two below named PDMRs and their respective interests in the ordinary shares of nominal value 5 pence each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transactions arise in respect of:

(i)   the exercise of an option over and immediate sale by Dean Finch of all Shares (including those compulsorily required to be sold to cover his personal tax liability arising on exercise) which vested to him on 12 April 2019 under a nil cost Long-Term Incentive Plan ("LTIP") option originally granted to him on 9 April 2014;

(ii)  the exercise of an option over all Shares and immediate sale by Matt Ashley of some only of such Shares (being those compulsorily required to be sold to cover his personal tax liability arising on exercise) which vested to him on 12 April 2019 under a nil cost LTIP option originally granted to him on 6 April 2016; and

(iii) the sale by Matt Ashley and a person connected with him of certain Shares beneficially held by them.

 

The individual PDMR transaction details are set out in the table below:

 

Name and position of PDMR -

above reference

Number of vested Shares acquired on exercise ¹

Number of vested Shares immediately sold at  413.5946 pence per Share

 

Number of beneficially held Shares sold at  413.5946 pence per Share  

 

Total beneficial interest held     in Shares following the transactions ⁴

 

Total other interest held in Shares following the transactions ⁵

 

Dean Finch,     

Group Chief

Executive - 

re (i) above

 

 

195,827 ²

 

195,827

 

 

N/A

 

 

 

 

 

254,683

 

 

1,415,254

 

Matt Ashley,

President and CEO, North America -

re (ii) and (iii) above

 

 

136,526 ³

 

 

61,561

 

48,401

 

150,842

 

445,017

                                                                                               

1 All Shares delivered on exercise were through the transfer to the PDMR of market purchased Shares held in the Company's Employee Benefit Trust.

2 The vested Shares acquired by Dean Finch are not subject to a compulsory holding period or malus and clawback under the 2005 LTIP rules under which the original option was granted.

3 The vested Shares acquired by Matt Ashley are subject to a two-year compulsory holding period and malus and clawback for two years form the date of vesting (including post termination of employment) under the 2015 LTIP rules under which the original option was granted. The residual net of tax Shares held beneficially by Matt Ashley post exercise (i.e. 74,965 Shares) must be retained by him for the remainder of the compulsory holding period. 

4 The beneficial interest in Shares represent those held by the PDMR and their connected persons. Each PDMR has a residual shareholding value which is in excess of that required for each of them under the Company's shareholding guidelines.

5 The other interests held in Shares are those outstanding to the PDMR under the Company's Executive Deferred Bonus Plan and LTIP.

 

 

The Company can confirm that each of the PDMRs has complied with their individual obligation to notify the Financial Conduct Authority in respect of their above transactions as required under the EU Market Abuse Regulation.

 

-     END    -

 

National Express contact and telephone number for enquiries:

 

Jennifer Myram, Company Secretary

++44 (0) 207 805 3807

 

Notes:

 

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)


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.
 
END
 
 
DSHCKADBABKDDQD

National Express Timeline

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use