17:31 Mon 30 Mar 2020
Reach PLC - Director/PDMR Shareholding
Grant of Awards under the Company's Long Term Incentive Plan 2012 ("LTIP")
The independent trustee (the "Trustee") of the Company's
Under the terms of the LTIP, Awards will normally vest on the third anniversary of their date of grant subject to the satisfaction of conditions relating to the performance of the Company over the three financial years to which an award relates. Upon vesting, awards are subject to a holding period of a further two years. During the holding period restrictions will apply to the sale or other disposal of the shares. The Awards will also be subject to the malus and clawback provisions of the LTIP.
The awards will be subject to achievement of the performance conditions as set out in the Directors' Remuneration Report in the 2019 Annual Report and Accounts.
The total exercise price payable on any exercise of an LTIP award is
The base price for calculating the level of award was 96.9p, the average market closing price between 24 and
The Reach share price has trended lower recently due to various global factors, which are not considered to be specific to the Company. Under the rules of the LTIP the Remuneration Committee has discretion to direct the Trustee to moderate vesting levels to ensure that the final outcomes are appropriate based on the performance of the Company and in light of any relevant factors (including any windfall gains).
Details of the transactions are set out below:
1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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b)
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LEI
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213800GNI5XF3XOATR61 |
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary 10p Shares |
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Identification code |
GB0009039941 |
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b)
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Nature of the transaction
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Grant of share options under the Company's Long Term Incentive Plan 2012. |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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£nil |
750,258 |
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d)
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Aggregated information |
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- Aggregated volume |
750,258 |
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- Price |
nil |
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e)
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Date of the transaction
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f)
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Place of the transaction
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XLON |
1
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Details of the person discharging managerial responsibilities / person closely associated
|
||||
a)
|
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|
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2
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Reason for the notification
|
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a)
|
Position/status
|
Chief Financial Officer |
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b)
|
Initial notification /Amendment
|
Initial Notification |
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3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
||||
a)
|
|
|
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b)
|
LEI
|
213800GNI5XF3XOATR61 |
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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
|
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a)
|
Description of the financial instrument, type of instrument |
Ordinary 10p Shares |
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|
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Identification code |
GB0009039941 |
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b)
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Nature of the transaction
|
Grant of share options under the Company's Long Term Incentive Plan 2012. |
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c)
|
Price(s) and volume(s) |
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|
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Price(s) |
Volume(s) |
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£nil |
468,272 |
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d)
|
Aggregated information |
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|
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- Aggregated volume |
468,272 |
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- Price |
nil |
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e)
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Date of the transaction
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f)
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Place of the transaction
|
XLON |
Enquiries
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Reach |
020 7293 3000 |
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020 7353 4200 |
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LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
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