Law Debenture Corp PLC Director/PDMR Shareholding (1171T)
March 15 2023 - 12:30PM
UK Regulatory
TIDMLWDB
RNS Number : 1171T
Law Debenture Corp PLC
15 March 2023
15 March 2023
The Law Debenture Corporation p.l.c.
Notification of Transactions by Persons Discharging Managerial
Responsibility
The Law Debenture Corporation p.l.c. (the "Corporation")
announced on 9 March 2023 that shares had been purchased by a
subsidiary undertaking in connection with the Corporation's
Deferred Share Bonus Plan (the "Plan") for senior staff. The
transactions, set out below, in the Corporation's Ordinary 5 pence
shares were undertaken by directors / persons discharging
managerial responsibility ("PDMRs") following the purchase.
Disposal of shares
In accordance with the Plan, deferred shares awarded to Denis
Jackson on 13 March 2020, including additional shares accrued over
the three-year vesting period as a result of the reinvestment of
corresponding dividends, vested on 13 March 2023 in the amount of
18,878 ordinary shares (the "vested shares"). To cover related tax
liabilities, Denis Jackson has disposed of 8,495 (45%) of the
vested shares at 822 pence per share, being the Corporation's share
price at market close on 10 March 2023. Denis Jackson will hold the
remaining ordinary shares on his own account.
Acquisition of shares
As set out in the Corporation's Remuneration Policy approved by
shareholders on 7 April 2020, half of any bonus earned by the
Executive Directors above GBP100,000 will be deferred in shares for
three years with enhanced malus and clawback provisions applying.
In accordance with that policy, 8,913 deferred share awards for
Denis Jackson and 6,607 deferred share awards for Trish Houston,
both Executive Directors, were granted under the Plan on 15 March
2023 at an average price of 841.5 pence per share (the
"awards").
The awards granted under the Plan are held in trust and no
consideration is payable on the grant or vesting of the awards. The
number of shares to which each award relates is increased by the
reinvestment of dividends due on the shares held in trust.
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the UK's retained
EU law version of the Market Abuse Regulation (596/2014).
Details of the person discharging managerial responsibilities
1
a) Name Denis Jackson
--------------------------------- --------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------- --------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name The Law Debenture Corporation p.l.c.
--------------------------------- --------------------------------------------
b) LEI 2138006E39QX7XV6PP21
--------------------------------- --------------------------------------------
Details of the transaction(s): section to be repeated
4 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 5 pence each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction Disposal of shares
--------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------------- --------------
Price(s) Volume(s)
-------------------------- --------------
822 pence per
share 8,495
-------------------------- --------------
d) Aggregated information
- Aggregated volume 8,495
- Price 69,828.9
e) Date of the transaction 13 March 2023
--------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- --------------------------------------------
Details of the person discharging managerial responsibilities
1
-------------------------------------------------------------------------------
a) Name Trish Houston
--------------------------------- --------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
--------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------- --------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name The Law Debenture Corporation p.l.c.
--------------------------------- --------------------------------------------
b) LEI 2138006E39QX7XV6PP21
--------------------------------- --------------------------------------------
Details of the transaction(s): section to be repeated
4 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 5 pence each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction 6,607 deferred share awards granted
under the Corporation's Deferred Share
Bonus Plan. The resultant total shares
under the Deferred Share Bonus Plan
held by Trish Houston as at 15 March
2023 is 13,646.
--------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------------- --------------
Price(s) Volume(s)
-------------------------- --------------
Nil consideration 6,607
-------------------------- --------------
d) Aggregated information
- Aggregated volume 6,607
- Price Nil consideration
e) Date of the transaction 15 March 2023
--------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- --------------------------------------------
Details of the person discharging managerial responsibilities
1
a) Name Denis Jackson
--------------------------------- ----------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name The Law Debenture Corporation p.l.c.
--------------------------------- ----------------------------------------------
b) LEI 2138006E39QX7XV6PP21
--------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 5 pence each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction 8,913 deferred share awards granted
under the Corporation's Deferred Share
Bonus Plan. The resultant total shares
under the Deferred Share Bonus Plan
held by Denis Jackson as at 15 March
2023 is 33,762.
--------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------------- --------------
Price(s) Volume(s)
--------------------------- --------------
Nil consideration 8,913
------------------------------------------------------------------ --------------
d) Aggregated information
- Aggregated volume 8,913
- Price Nil consideration
e) Date of the transaction 15 March 2023
--------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ----------------------------------------------
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END
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