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By LSE RNS

RNS Number : 0216X
McCarthy & Stone PLC
20 November 2017
 

20 November 2017

 

 

McCarthy & Stone plc (the "Company")

 

Notification of Transactions by

Persons Discharging Managerial Responsibilities

 

Pursuant to the notification obligations under article 19.3 of the Market Abuse Regulation, the Company announces the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the ordinary shares of 8 pence nominal value in the Company ("Shares"). 

 

McCarthy & Stone plc Long Term Incentive Plan

 

On 17 November 2017, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as set out below.

 

The awards were made as nil-cost options and the number of shares over which each nil-cost option was awarded was calculated by reference to the closing price of the Shares as derived from the Daily Official List of the London Stock Exchange on 16 November 2017. These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR"), Earnings per Share ("EPS") and Return on Capital Employed ("ROCE") targets as measured over a three-year performance period.

 

The performance conditions and targets for this LTIP grant are:

•              Relative TSR measured against two groups equally weighted (housebuilder peer index and FTSE 250 constituents) - Threshold: equal to housebuilder index/ median of FTSE 250, Maximum: housebuilder index + 7.5% per annum/upper quartile of FTSE 250;

•              FY20 ROCE - Threshold: 20%, Maximum: 25%;

•              FY20 EPS - Threshold:  21.8p, Maximum: 27.8p.

 

The normal date of vesting for these nil-cost options will be 17 November 2020 and the last date for exercise will be 17 November 2027, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.  These awards will be subject to a two-year post-vesting holding period.

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Clive Fenton

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

458,716

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

458,716


£0.00

e)

Date of the transaction

2017-11-17

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Tonkiss

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

302,752

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

302,752


£0.00

e)

Date of the transaction

2017-11-17

f)

Place of the transaction

Outside a trading venue

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Rowan Baker

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer

a)

Name

McCarthy & Stone plc

b)

LEI

213800CEJ4OQ5YPU8Z37

4

Details of the transaction

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 8 pence nominal value each

 

GB00BYNVD082

b)

Nature of the transaction

Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

261,468

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

 

261,468


£0.00

e)

Date of the transaction

2017-11-17

f)

Place of the transaction

Outside a trading venue

 

 

 

For further information, please contact:

 

Patrick Hole

Group General Counsel and Company Secretary

Telephone : 01202 508040

 

 

-- Ends --


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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