Law Debenture Corp PLC Director/PDMR Shareholding (4291J)
April 09 2020 - 11:15AM
UK Regulatory
TIDMLWDB
RNS Number : 4291J
Law Debenture Corp PLC
09 April 2020
9 April 2020
The Law Debenture Corporation p.l.c. (the "Company")
Grant of Awards under The Law Debenture Corporation p.l.c.
Long-Term Incentive Plan
Notification of Transactions by Persons Discharging Managerial
Responsibility ("PDMRs")
The Company has been notified of the following transactions in
the Company's Ordinary 5p shares undertaken by directors / persons
discharging managerial responsibility ('PDMRs') on 7 April 2020 in
accordance with the rules of The Law Debenture Corporation p.l.c.
Long-Term Incentive Plan.
Name Status Number of Ordinary Option Price
Shares under LTIP
Award
Denis Jackson Chief Executive 70,210 GBPNil
Officer
---------------- ------------------- -------------
Katie Thorpe Chief Financial 51,847 GBPNil
Officer
---------------- ------------------- -------------
No consideration was paid for the grant of the LTIP Awards which
are structured as nil cost options. The number of Ordinary Shares
granted under each LTIP Award has been calculated using an Ordinary
Share price of 462.9 pence per share being the average of the
closing share prices over the five Dealing Days preceding the date
of grant.
The normal vesting date of the LTIP Awards will be 7 April 2023,
being the third anniversary of the award date. Once vested, the
LTIP Awards will normally be exercisable until the day before the
tenth anniversary of the award date. The LTIP Awards are subject to
a two-year holding period commencing on vesting.
The LTIP Awards will normally vest after 3 years based on the
compounded annual growth rate in the Earnings per Share (EPS) of
the Independent Professional Services business measured over a 3
year period. At 4% p.a. growth 25% of the LTIP Award will vest
rising on a straight-line basis to 100% for 10% p.a. growth. Under
the LTIP Rules, the Remuneration Committee has full discretion to
ensure that the final vesting outturn reflect all relevant factors,
including consideration of any windfall gains.
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Denis Jackson
------------------------------- --------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status 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 The Law Debenture Corporation p.l.c.
------------------------------- --------------------------------------------------
b) LEI 2138006E39QX7XV6PP21
------------------------------- --------------------------------------------------
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 5p each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction Grant of nil cost option under The
Law Debenture Corporation p.l.c. Long-Term
Incentive Plan
------------------------------- --------------------------------------------------
c) Price(s) and volume(s)
------------------------------ ---------------
Price(s) Volume(s)
------------------------------ ---------------
Nil consideration 70,210
------------------------------------------------------------------- ---------------
d) Aggregated information
- Aggregated volume 70,210
- Price Nil consideration
e) Date of the transaction 7 April 2020
------------------------------- --------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Katie Thorpe
------------------------------- --------------------------------------------------
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 The Law Debenture Corporation p.l.c.
------------------------------- --------------------------------------------------
b) LEI 2138006E39QX7XV6PP21
------------------------------- --------------------------------------------------
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 5p each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction Grant of nil cost option under The
Law Debenture Corporation p.l.c. Long-Term
Incentive Plan
------------------------------- --------------------------------------------------
c) Price(s) and volume(s)
------------------------------ ---------------
Price(s) Volume(s)
------------------------------ ---------------
Nil consideration 51,847
------------------------------------------------------------------- ---------------
d) Aggregated information
- Aggregated volume 51,847
- Price Nil consideration
e) Date of the transaction 7 April 2020
------------------------------- --------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------------
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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