TIDMLCL

RNS Number : 1356J

Ladbrokes Coral Group PLC

27 March 2018

LADBROKES CORAL GROUP PLC

Notification of Interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")

On 26 March 2018, the Court sanctioned a scheme of arrangement for the acquisition of the entire issued and to be issued share capital of Ladbrokes Coral Group plc (the "Company") by GVC Holdings PLC ("GVC" and the "Acquisition", respectively). As a result of this, outstanding awards(1) ("Awards") held by the PDMRs and directors under the Performance Share Plan, Deferred Bonus Plan and the 1983 Savings Related Share Option Scheme ("Sharesave") vested and were exercised.

Details of the total number of Shares vesting in respect of executive directors and PDMRs are as follows:

 
                                    Number              Number      Balance 
                                 of Shares           of Shares    of Shares 
                                   subject            deducted         held 
                                 to Awards             for Net 
                                    Vested          Settlement 
                                                      purposes 
                                              (i.e. proportion 
                                                      of Award 
                                                        Shares 
                                                    which were 
                                                       settled 
                                                      in cash) 
 
 Name 
 Jim Mullen 
      Deferred Bonus Plan          191,121              89,908      101,383 
      Performance Share Plan       746,916                   -      746,916 
      SAYE                           3,960                            3,960 
                                                                ----------- 
      Total                                                         852,259 
 
 Paul Bowtell 
      Deferred Bonus Plan           29,593              13,909       15,684 
      Performance Share Plan       200,180                          200,180 
                                                                ----------- 
      Total                                                         215,864 
 
 Andy Hornby                                                 - 
      Performance Share Plan       190,513                          190,513 
 

When conditional share awards granted under the Deferred Bonus Plan vest, the directors and PDMRs will receive a combination of Shares and a cash payment from the Company that together have an aggregate combined value (on vesting) equal to the aggregate total number of Shares in the Company that would have been acquired were it not for the award being part settled in cash. The cash sum will be used to satisfy these individuals' tax liability arising on vesting of these conditional share awards under the Deferred Bonus Plan.

The above "net settlement" approach did not apply to restricted share awards granted under the Deferred Bonus Plan over 29,543 Shares to Jim Mullen. Instead, the trustee of the Ladbrokes Coral Group plc Share Ownership Trust will purchase sufficient Shares back from Jim Mullen in an off-market transaction at a price equal to the closing middle market quotation of the Shares on the Court sanction date. The Share sale by Jim Mullen will be used to fund the tax liability which arises on vesting of his restricted share awards

In respect of the Performance Share Plan, no Shares are to be sold in order to meet the tax liability as there is insufficient time to sell such Shares in the market and the Acquisition will complete shortly after vesting on 28 March 2018. Shares in GVC and cash, which form part of the consideration under the Acquisition and which will be issued and transferred, respectively, on completion of the Acquisition, will instead be sold to meet the tax liability of the individuals arising on the vesting.

This notification is made in accordance with DTR 3.1.4R(1)(a) of the FCA's Disclosure Guidance and Transparency Rules.

The attached notifications made in accordance with the EU Market Abuse Regulation, provide further information.

Geoff Mason

Company Secretary

Notes

1 The share awards were made in respect of the Company's ordinary shares of 281/3 pence per share ("Shares").

Ladbrokes Coral Group plc LEI: 213800P7FJOPCV4H3J04

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ---------------------------------------------------------------- 
 a)   Name                             Jim Mullen 
---  -------------------------------  ------------------------------- 
 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                             Ladbrokes Coral Group plc 
---  -------------------------------  ------------------------------- 
 b)   LEI                              213800P7FJOPCV4H3J04 
---  -------------------------------  ------------------------------- 
 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 281/3 pence 
       the financial                    each ("Shares") 
       instrument, type 
       of instrument 
      Identification                   GB00B0ZSH635 
       code 
---  -------------------------------  ------------------------------- 
 b)   Nature of the                    Vesting of Share Awards 
       transaction 
---  -------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          Nil         848,299 
                                           GBP1.01      3,960 
                                                       852,259 
                                         ----------  ---------- 
---  -------------------------------  ------------------------------- 
 d)   Aggregated information 
 
        *    Aggregated volume           852,259 
                                         GBP3,999.60 
 
        *    Price 
---  -------------------------------  ------------------------------- 
 e)   Date of the transaction          2018-03-26 
---  -------------------------------  ------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  ------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ---------------------------------------------------------------- 
 a)   Name                             Paul Bowtell 
---  -------------------------------  ------------------------------- 
 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                             Ladbrokes Coral Group plc 
---  -------------------------------  ------------------------------- 
 b)   LEI                              213800P7FJOPCV4H3J04 
---  -------------------------------  ------------------------------- 
 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 281/3 pence 
       the financial                    each ("Shares") 
       instrument, type 
       of instrument 
      Identification                   GB00B0ZSH635 
       code 
---  -------------------------------  ------------------------------- 
 b)   Nature of the                    Vesting of Share Awards 
       transaction 
---  -------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          nil         215,864 
                                         ----------  ---------- 
---  -------------------------------  ------------------------------- 
 d)   Aggregated information 
 
        *    Aggregated volume           215,864 
                                         N/A 
 
        *    Price 
---  -------------------------------  ------------------------------- 
 e)   Date of the transaction          2018-03-26 
---  -------------------------------  ------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  ------------------------------- 
 

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ---------------------------------------------------------------- 
 a)   Name                             Jim Mullen 
---  -------------------------------  ------------------------------- 
 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                             Ladbrokes Coral Group plc 
---  -------------------------------  ------------------------------- 
 b)   LEI                              213800P7FJOPCV4H3J04 
---  -------------------------------  ------------------------------- 
 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 281/3 pence 
       the financial                    each ("Shares") 
       instrument, type 
       of instrument 
      Identification                   GB00B0ZSH635 
       code 
---  -------------------------------  ------------------------------- 
 b)   Nature of the                    Sale of Shares 
       transaction 
---  -------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          GBP1.69     13,886 
                                         ----------  ---------- 
---  -------------------------------  ------------------------------- 
 d)   Aggregated information 
 
        *    Aggregated volume 
 
 
        *    Price 
---  -------------------------------  ------------------------------- 
 e)   Date of the transaction          2018-03-26 
---  -------------------------------  ------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  ------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ---------------------------------------------------------------- 
 a)   Name                             Andy Hornby 
---  -------------------------------  ------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------------- 
 a)   Position/status                  Chief Operating Officer 
---  -------------------------------  ------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  ------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ---------------------------------------------------------------- 
 a)   Name                             Ladbrokes Coral Group plc 
---  -------------------------------  ------------------------------- 
 b)   LEI                              213800P7FJOPCV4H3J04 
---  -------------------------------  ------------------------------- 
 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 281/3 pence 
       the financial                    each ("Shares") 
       instrument, type 
       of instrument 
      Identification                   GB00B0ZSH635 
       code 
---  -------------------------------  ------------------------------- 
 b)   Nature of the                    Vesting of Share Awards 
       transaction 
---  -------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          nil         190,513 
                                         ----------  ---------- 
---  -------------------------------  ------------------------------- 
 d)   Aggregated information 
 
        *    Aggregated volume           190,513 
                                         N/A 
 
        *    Price 
---  -------------------------------  ------------------------------- 
 e)   Date of the transaction          2018-03-26 
---  -------------------------------  ------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  ------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHEDLFLVXFLBBD

(END) Dow Jones Newswires

March 27, 2018 11:28 ET (15:28 GMT)

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