Director/PDMR Shareholding
Updated : 16:17
9 November 2018
The Royal Bank of Scotland Group plc
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") in accordance with Article 19 of the EU Market Abuse Regulation 596/2014
1. The Royal Bank of Scotland Group plc (the "Company") announces that ordinary shares of £1 each in the Company ("Shares") (ISIN: GB00B7T77214) were delivered to PDMRs on 7 November 2018, as set out below.
The Shares delivered represent payment of a fixed share allowance for the six month period ending 31 December 2018, unless otherwise set out below, and have been calculated using a share price of £2.3932.
The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows:-
Name of PDMR | No. of Shares delivered | No. of Shares withheld to satisfy associated tax liability | No. of Shares retained |
Vanessa Bailey | 38,606 | 18,145 | 20,461 |
Mark Bailie | 83,571 | 39,279 | 44,292 |
Helen Cook | 23,505 | 11,048 | 12,457 |
Bruce Fletcher | 29,523 | 13,876 | 15,647 |
Chris Marks | 104,463 | 49,098 | 55,365 |
Les Matheson | 62,678 | 30,086 | 32,592 |
Ross McEwan | 208,926 | 98,196 | 110,730 |
Simon McNamara | 67,901 | 32,593 | 35,308 |
Alison Rose | 83,571 | 39,279 | 44,292 |
David Wheldon | 23,505 | 11,048 | 12,457 |
[1] Vanessa Bailey's fixed share allowance represents payment for the period from 20 August 2018 to 31 December 2018, which coincides with her appointment into role.
2 Bruce Fletcher's fixed share allowance represents payment for the period from 5 October 2018 to 31 December 2018, which coincides with his appointment into role. |
The above transactions took place outside of a trading venue. The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.482. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs in the Computershare Retained Share Nominee account and will be released in instalments over a three year period.
2. The Company announces that on 9 November 2018, Ross McEwan transferred 30,664 Shares to charity for nil consideration. The transfer is in line with the commitments Mr McEwan made in February 2015 and February 2016 to transfer all of his 2015 fixed share allowance and half of his 2016 fixed share allowance to charity. Following the transfer to charity, Mr McEwan has relinquished all legal and beneficial rights to such Shares. The transfer took place outside of a trading venue.
3. The Company also announces that a conditional award over 330,559 Shares has been granted under the RBS 2014 Employee Share Plan on 7 November 2018 to Bruce Fletcher, the Company's Chief Risk Officer. The market price per Share used on the grant of the award was £2.484. The transfer took place outside of a trading venue.
This award has been granted to replace awards which Mr Fletcher has forfeited on leaving HSBC. The award is eligible to vest between March 2019 and March 2023 and is subject to malus and clawback provisions. Vested Shares retained after payment of relevant tax liabilities will be subject to further retention requirements.
Legal Entity Identifier: 2138005O9XJIJN4JPN90
For further information contact:-
RBS Investor Relations
Alexander Holcroft
Head of Equity Investor Relations
+44 20 7672 1758
RBS Media Relations
+44(0)131 523 4205
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