Director/PDMR Shareholding

By

Regulatory News | 30 Jun, 2021

Updated : 15:33

RNS Number : 7088D
Severfield PLC
30 June 2021
 

30th June 2021

 

Severfield plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification relates to the vesting and exercise of nil cost options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2018. These options vested on 28 June 2021 and were exercised and settled as set out below.

In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment.  This only applied to directors who already satisfy the Company's shareholding requirement for executive directors.  In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.

 

Name

Number of shares awarded on 28 June 2018

Number of shares vested and exercised on 28 June 2021 after dividend equivalent adjustment  

Cash paid to settle tax calculated at a share price of £0.78

Cash paid to participant after tax calculated at a share price of £0.78

Shares retained by individual

Alan Dunsmore

117,613

134,047

£49,142

£55,415

0

Ian Cochrane

 108,732

123,925

£45,431

£51,230

0

Derek Randall

 98,984

112,815

£37,706

£50,290

0

Adam Semple

 13,098

14,928

£5,473

n/a

7,912

 

 1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Alan Dunsmore

2

Reason for the notification

a)

Position/status

CEO

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Severfield plc

b)

LEI

21380025AWPR781CY104

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 financial instrument, type of instrument

Identification code

Ordinary shares of 2.5p


GB00B27YGJ97


b)

Nature of the transaction

Exercise of DSBP award and settlement of that exercise with a cash payment.

c)

Price(s) and volume(s)

Price

Volume

Total

£0.78(price per share paid to settle the exercise of the DSBP award)

134,047

£104,557

d)

Aggregated information

-

Aggregated volume

 

-

Price

Not applicable-single transaction

e)

Date of the transaction

2021-06-28

 

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Ian Cochrane

2

Reason for the notification

a)

Position/status

COO

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Severfield plc

b)

LEI

21380025AWPR781CY104

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 financial instrument, type of instrument

Identification code

Ordinary shares of 2.5p


GB00B27YGJ97


b)

Nature of the transaction

Exercise of DSBP award and settlement of that exercise with a cash payment.

c)

Price(s) and volume(s)

Price

Volume

Total

£0.78 (price per share paid to settle the exercise of the DSBP award)

123,925

£96,661

d)

Aggregated information

-

Aggregated volume

 

-

Price

Not applicable-single transaction

e)

Date of the transaction

2021-06-28

 

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Derek Randall

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Severfield plc

b)

LEI

21380025AWPR781CY104

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 financial instrument, type of instrument

Identification code

Ordinary shares of 2.5p


GB00B27YGJ97


b)

Nature of the transaction

Exercise of DSBP award and settlement of that exercise with a cash payment.

c)

Price(s) and volume(s)

Price

Volume

Total

£0.78 (price per share paid to settle the exercise of the DSBP award)

112,815

£87,996

d)

Aggregated information

-

Aggregated volume

 

-

Price

Not applicable-single transaction

e)

Date of the transaction

2021-06-28

 

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adam Semple

2

Reason for the notification

a)

Position/status

Finance director

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Severfield plc

b)

LEI

21380025AWPR781CY104

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 financial instrument, type of instrument

Identification code

Ordinary shares of 2.5p


GB00B27YGJ97


b)

Nature of the transaction

Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.

c)

Price(s) and volume(s)

 


Price

Volume

Total

Share settlement

£0.00

7,912

£0

Cash settlement

£0.78 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled)

7,016

£5,472

d)

Aggregated information

-

Aggregated volume

 

-

Price

Not applicable-single transaction

e)

Date of the transaction

2021-06-28

 

f)

Place of the transaction

Outside a trading venue

 

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