Vanquis Banking Group PLC Director/PDMR Shareholding
May 09 2024 - 8:00AM
RNS Regulatory News
RNS Number : 8315N
Vanquis Banking Group PLC
09 May 2024
Vanquis Banking Group plc
("the Company")
Director/PDMR Transaction -
Initial Notification
The Company announces that it has
granted the following awards on 7 May 2024 over the Company's ordinary shares of 20 8/11p ("Shares") as
follows:
1. nil-cost
options over 847,599 and 643,006 Shares for no consideration to Ian
McLaughlin and David Watts respectively, who are directors/persons
discharging managerial responsibility ("PDMRs") in the Company,
under the 2020 Restricted Share Plan (the "RSP
Options").
The number of ordinary shares awarded under the
RSP Options is based on the average closing share price on the
London Stock Exchange between 29 April 2024 and 3 May 2024 of
£0.4790. The number of shares granted reflects a
downwards adjustment to the grant value of the awards of 44%.
In making this downwards adjustment, the Remuneration Committee
considered its internal Policy to take into account the
potential windfall gain and share dilution. A further assessment will be made at
the point of vest as part of the RSP performance underpin. There
has been no additional discount from the price at grant to reflect
the absence of dividend equivalents during the vesting period and
no market value options linked to the RSP Options have been granted
under the 2020 Restricted Share Plan (CSOP Options).
Notification and public
disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with
them
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Ian McLaughlin
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Vanquis Banking Group plc
|
|
b)
|
LEI
|
213800U93SZC44VXN635
|
|
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 financial
instrument, type of instrument
Identification code
|
Ordinary Shares of 20
8/11p
GB00B1Z4ST84
|
|
b)
|
Nature of the transaction
|
Acquisition of nil-cost options
under the 2020 Restricted Share Plan.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0
|
847,599
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
847,599
£0
|
|
e)
|
Date of the transaction
|
7 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Notification and public
disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with
them
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
David Watts
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Vanquis Banking Group plc
|
|
b)
|
LEI
|
213800U93SZC44VXN635
|
|
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 financial
instrument, type of instrument
Identification code
|
Ordinary Shares of 20
8/11p
GB00B1Z4ST84
|
|
b)
|
Nature of the transaction
|
Acquisition of nil-cost options
under the 2020 Restricted Share Plan.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0
|
643,006
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
643,006
£0
|
|
e)
|
Date of the transaction
|
7 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Name
of authorised official of issuer responsible for making
notification:
David Whincup, Deputy Company
Secretary
Date
of Notification:
9 May 2024
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END
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