Speedy Hire PLC Director/PDMR Shareholding (8495B)
June 14 2021 - 11:25AM
UK Regulatory
TIDMSDY
RNS Number : 8495B
Speedy Hire PLC
14 June 2021
Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Managerial
Responsibilities
On 14 June 2021 awards (the "PSP Awards") over ordinary shares
of 5 pence each in the share capital of the Company ("Shares") were
granted under the Company's 2014 Performance Share Plan ("PSP") to
persons discharging managerial responsibilities as detailed below
(the "PDMRs"). The number of Shares referred to below is the
maximum available if the performance conditions are met in full. In
the normal course of events, the PSP Awards will become exercisable
as from the third anniversary of the grant, subject to each PDMR's
continued service and the extent to which the following objective
earnings per share ("EPS") and total shareholder return performance
("TSR") conditions have been satisfied:
-- 50% of the PSP Awards will be subject to an EPS condition.
25% of this part of an award vests for EPS of 5.33 pence with full
vesting of this part of an award for EPS of 5.89 pence for the
financial year ending 31 March 2024. A sliding scale operates
between these points; and
-- 50% of the PSP Awards will be subject to a relative TSR
condition based on the Group's performance against the constituents
of the FTSE 250 (excluding investment trusts) measured over three
years from 1 April 2021 to 31 March 2024. 25% of this part of an
Award vests if the Company's TSR is ranked at the median of the
TSRs of the comparator group, with full vesting of this part of an
award for upper quartile performance. A sliding scale operates
between these points.
In addition to the above, the Company's Remuneration Committee
retains discretion to reduce the level of vesting of the PSP Awards
in response to exceptional circumstances.
The PSP Awards were granted in the form of nil-cost options and
remain subject to the rules of the PSP at all times including that
awards to executive directors are subject to a two-year post
vesting holding period (net of tax).
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Russell Down
------------------------------ -------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position / status Chief Executive
------------------------------ -------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Speedy Hire Plc
------------------------------ -------------------------------------
b) LEI 213800U78SIYAZDYXM61
------------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
the financial
instrument
Identification GB0000163088
code
------------------------------ -------------------------------------
b) Nature of the Grant of award under the Speedy Hire
transaction Plc Performance Share Plan 2014
------------------------------ -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 551,385
------------------------------ -------------------------------------
d) Aggregated
information N/A single transaction
* Aggregated volume
* Price
------------------------------ -------------------------------------
e) Date of the transaction 2021-06-14
------------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Bunn
------------------------------ -------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position / status 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 Speedy Hire Plc
------------------------------ -------------------------------------
b) LEI 213800U78SIYAZDYXM61
------------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
of the financial
instrument
Identification GB0000163088
code
------------------------------ -------------------------------------
b) Nature of the Grant of award under the Speedy Hire
transaction Plc Performance Share Plan 2014
------------------------------ -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 458,031
------------------------------ -------------------------------------
d) Aggregated
information N/A single transaction
* Aggregated volume
* Price
------------------------------ -------------------------------------
e) Date of the 2021-06-14
transaction
------------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ -------------------------------------
Enquiries:
Neil Hunt
Company Secretary
Speedy Hire Plc
Telephone: 01942 720000
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END
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