National Express Group PLC Director/PDMR Shareholding (1508N)
August 04 2017 - 10:00AM
UK Regulatory
TIDMNEX
RNS Number : 1508N
National Express Group PLC
04 August 2017
NATIONAL EXPRESS GROUP PLC
("Company")
Notification of transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
Following receipt of notification today from Dean Finch, a PDMR,
the Company provides onward notification of the following
transactions effected by him on 3 August 2017 relating to his
interests in the Ordinary shares of nominal value 5p each in the
capital of the Company ("Shares") (ISIN: GB0006215205).
The transactions arise from: (i) the exercise of a nil cost
option award over certain performance-conditioned Shares which
vested on 3 August 2017 - the original awards having been granted
on 3 August 2012 under the Company's 2005 Long-Term Incentive Plan,
as amended ("LTIP"), and (ii) the immediate sale on the London
Stock Exchange of all the Shares acquired under (i) above, both as
shown below.
Name and Number Number Total beneficial Total remaining
position of Shares of Shares interest interest
of PDMR acquired immediately in Shares in Shares
on exercise sold following following
of LTIP in the the transaction the transaction
option market (including under the
(1) at 367.3368p those held Company's
per Share by connected deferred
persons) bonus and
long-term
incentive
plans
--------------- ------------- -------------- ----------------- -----------------
Dean Finch,
Group Chief
Executive 130,703 130,703(1) 137,598 1,604,277
--------------- ------------- -------------- ----------------- -----------------
(1) Malus and clawback provisions did not apply to the original
awards. All Shares delivered to the PDMR on exercise of the option
are satisfied through the transfer of market purchased Shares from
the Company's Employee Benefit Trust.
The stretching performance targets which attached to the
original award - comprising Earnings Per Share ("EPS") and Total
Shareholder Return ("TSR"), each as applied to 50% of the award -
were set at the time of grant and related to the five-year
financial period ended 31 December 2016. These targets, and the
Company's measured performance against them, are set out in the
Directors' Remuneration Report of the Company's 2016 Annual Report
and, as disclosed therein, resulted in the full vesting of the EPS
element only (as above).
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1. Details of PDMR
---- ------------------------------------------------------ --------------------------------------------
Full Name Dean Finch
---- -------------------------------------------------- ------------------------------------------------
Position / Group Chief Executive
status
---- -------------------------------------------------- ------------------------------------------------
Initial notification Initial notification
/ amendment
---- -------------------------------------------------- ------------------------------------------------
2. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ----------------------------------------------------------------------------------------------------
Name National Express Group PLC
---- ---------------------------------------------------- ----------------------------------------------
LEI 213800A8IQEMY8PA5X34
---- ---------------------------------------------------- ----------------------------------------------
3. 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
---- ----------------------------------------------------------------------------------------------------
(i) Description Ordinary shares of nominal value
of the financial 5p each
instrument
Identification GB0006215205
code
---- -------------------------------------------------- ------------------------------------------------
Nature of Acquisition
the transaction
The exercise, post-performance conditioned
vesting, of a nil cost option to
acquire 130,703 Ordinary shares
under the Company's Long-Term Incentive
Plan 2005, as amended.
---- -------------------------------------------------- ------------------------------------------------
Price(s) and Price(s) Volume(s)
volume(s) ----------------- -----------------
Nil per Ordinary 130,703 Ordinary
share shares
----------------- -----------------
---- -------------------------------------------------- ------------------------------------------------
Aggregated 130,703 Ordinary shares at GBP Nil
information per Ordinary share
Aggregated
volume Price Total GBP Nil
---- -------------------------------------------------- ------------------------------------------------
Date of the 3 August 2017
transaction
---- -------------------------------------------------- ------------------------------------------------
Place of the N/A
transaction
---- -------------------------------------------------- ------------------------------------------------
(ii) Description Ordinary shares of nominal value
of the financial 5p each
instrument
Identification GB0006215205
code
---- -------------------------------------------------- ------------------------------------------------
Nature of Disposal
the transaction
The sale of 130,703 Ordinary shares
in the market
---- -------------------------------------------------- ------------------------------------------------
Price(s) and Price(s) Volume(s)
volume(s) ----------------- ----------
GBP3.673368 per
Ordinary share 130,703
----------------- ----------
---- -------------------------------------------------- ------------------------------------------------
Aggregated 130,703 Ordinary shares at GBP3.6733.68
information per Ordinary share
Aggregated
volume Price Total GBP480,120.22
(gross)
---- -------------------------------------------------- ------------------------------------------------
Date of the 3 August 2017
transaction
---- -------------------------------------------------- ------------------------------------------------
Place of the London Stock Exchange
transaction
---- -------------------------------------------------- ------------------------------------------------
- END -
National Express contact and telephone number for enquiries:
Michael Arnaouti, Company Secretary
++44 (0) 207 805 3807
This information is provided by RNS
The company news service from the London Stock Exchange
END
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