Brady plc TR-1: Notification of Major Holdings (7962X)
May 01 2019 - 10:46AM
UK Regulatory
TIDMBRY
RNS Number : 7962X
Brady plc
01 May 2019
1 May 2019
Brady plc
("Brady" or the "Company")
Director/PDMR Shareholding
Brady plc, a leading global provider of trading, risk management
and settlement solutions to the commodity and energy markets,
announces that Carmen Carey, Chief Executive Officer, has been
granted nil cost options over a total of 431,034 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. Following this grant Carmen Carey
will hold a total of 431,034 Options. The Options have a two-year
holding period (post vesting) and will vest subject to the
achievement of certain EBITDA and EPS targets, which are detailed
below.
Following these grants, there are a total of 2,134,193
outstanding Options and Awards equivalent to 2.6 per cent of the
Company's issued share capital.
Performance Targets
Fifty per cent (50%) of the grant is measured against growth in
Adjusted EPS and fifty per cent (50%) is measured against growth in
Adjusted EBITDA. Growth in Adjusted EPS and growth in Adjusted
EBITDA 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 Financial Year Vesting % of
2021 2021 Award
EBITDA EPS
GBP'000 (pence)
--------------- --------------- --------------- -------------
Threshold % 5,160 2.13 25%
Good % 5,616 2.32 50%
Strong % 6,094 2.52 75%
Outstanding % 6,590 2.72 100%
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) Carmen Carey
-------------------------- -------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status (1) Chief Executive Officer
-------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------
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 Ordinary shares of 1p each in the
financial instrument, Company
type of instrument
Identification code 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) 431,034
------------------
-------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
-------------------------- -------------------------------------------
e) Date of the transaction 30 April 2019
-------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -------------------------------------------
For further information, please contact:
Brady plc Telephone: +44(0)1223 479479
Carmen Carey, Chief Executive Officer
Martin Thorneycroft, Finance Director
Cenkos Securities plc - NOMAD and Telephone: +44 (0)20 7397
Broker 8900
Mark Connelly - Corporate Finance
Newgate Communications Telephone: +44 (0)20 7653
Bob Huxford/ Ian Silvera 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 rns@lseg.com or visit www.rns.com.
END
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