Carpetright PLC Director/PDMR Shareholding (1779M)
September 12 2019 - 10:26AM
UK Regulatory
TIDMCPR
RNS Number : 1779M
Carpetright PLC
12 September 2019
12 September 2019
Carpetright plc (the "Company")
GRANT OF OPTIONS UNDER THE 2013 LONG TERM INCENTIVE PLAN ("the
Plan")
Following approval of the revised remuneration policy at the
Annual General Meeting on 5 September 2019 restricted share unit
awards under the Plan were made today. Under the scheme the Options
have a nil Option price to acquire ordinary shares in the capital
of the Company.
Name Director/PDMR Total no. of shares
W Walsh Director 894,604
J Simpson Director 454,773
The Directors are entitled to a Dividend Equivalent on their
Award in respect of its Vested Shares.
Each award comprises three distinct parts ("Part A", "Part B"
and "Part C" respectively) in respect of such number of ordinary
shares in the capital as shown for each Director as follows:
Name Director/PDMR No. of shares No. of shares No. of shares Total no.
comprised comprised with comprised with of shares
with Part Part B Part C
A
W Walsh Director 447,302 223,651 223,651 894,604
J Simpson Director 227,387 113,693 113,693 454,773
Each award will vest as follows:
-- the third anniversary of the Grant Date in respect of each Part A;
-- the fourth anniversary of the Grant Date in respect of each Part B; and
-- the fifth anniversary of the Grant Date in respect of each Part C.
A Holding Period applies in respect of Part A and Part B of each
Award as follows:
-- the second anniversary of the date of Vesting in respect of each Part A; and
-- the first anniversary of the date of Vesting in respect of each Part B.
The awards are subject to three underpins. The Remuneration
Committee (the "Committee") retains discretion to reduce the number
of Shares that would otherwise Vest under an Award (including to
nil) in the event that one or more of the following circumstances
arise:
-- the average of the closing middle market quotations for
Shares (as derived from the London Stock Exchange Daily Official
List or otherwise) during the one-month period ending with the last
dealing day before the date the relevant Award Vest is less
28p;
-- in the reasonable opinion of the Committee (including regard
to direct customer feedback using the "Do We Measure Up?" programme
as relevant) there has not been an appropriate improvement in
customer satisfaction between the grant of the Award and the date
of its Vesting; and/or
-- in the reasonable opinion of the Committee (including regard
to quality of earnings, the debt position and covenant compliance
and headroom) the Company is not of sound financial footing as at
the date of the Vesting of the Award.
Any such reduction shall be made to such extent and at such time
or times as the Committee considers appropriate.
No Holding Period applies to other Parts or Awards. The Awards
on Vesting are subject to a value cap, which is a percentage of the
Directors salary at the date of the grant.
Formal notification of the dealings is set out below:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Wilf Walsh
---------------------------------- -------------------------------------------
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 Carpetright plc
---------------------------------- -------------------------------------------
b) LEI 213800GO32BSNNHXID90
---------------------------------- -------------------------------------------
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
financial instrument,
type of instrument
Identification code GB0001772945
b) Nature of the transaction Grant of options under the Long Term
Incentive Plan
---------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------- -------------
Option Price(s) Volume(s)
------------------------- -------------
GBP0 894,604
----------------------------------------------------------------- -------------
d) Aggregated information
- Aggregated volume 894,604
- Price Option price GBP0
e) Date of the transaction 12 September 2019
---------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeremy Simpson
---------------------------------- -------------------------------------------
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 Carpetright plc
---------------------------------- -------------------------------------------
b) LEI 213800GO32BSNNHXID90
---------------------------------- -------------------------------------------
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
financial instrument,
type of instrument
Identification code GB0001772945
b) Nature of the transaction Grant of options under the Long Term
Incentive Plan
---------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------- -------------
Option Price(s) Volume(s)
------------------------- -------------
GBP0 454,773
----------------------------------------------------------------- -------------
d) Aggregated information
- Aggregated volume 454,773
- Price Option price GBP0
e) Date of the transaction 12 September 2019
---------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------- -------------------------------------------
Z Rayner
01708 802000
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END
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