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LEI
Number: 213800VFRMBRTSZ3SJ06
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16th May 2024
CHESNARA plc
("Chesnara" or "the Company")
NOTIFICATION OF TRANSACTIONS
OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
('PDMRs')
Further to the appointment of Tom
Howard as Group Chief Financial Officer, Chesnara plc (the
'Company') today announces that, under the terms of his
appointment, Tom (a PDMR) was granted awards in the ordinary shares
of the Company under the Chesnara plc Buy-out Plan. These
awards are to compensate him for remuneration arrangements
forfeited on leaving his former employer, Aviva Investors.
These awards were made in accordance with the Company's Directors'
Remuneration Policy which was approved by shareholders on
16th May 2023 and are subject to the Executive
Directors' Minimum Shareholding Policy.
The notification below, which is
being made in accordance with the requirements of the UK Market
Abuse Regulations, provides further detail of the awards granted to
the PDMR.
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1
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Details of the person discharging managerial
responsibilities/person closely associated
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a)
b)
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Natural
person:
Legal
person
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Tom Howard
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2
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Reason for the notification
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a)
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Position/status:
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Group Chief Financial
Officer
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b)
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Initial notification/amendment
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Initial notification
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3
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Details of the Issuer
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a)
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Name
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Chesnara plc
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b)
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Legal Entity Identifier:
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213800VFRMBRTSZ3SJ06
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4
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Details of the transaction(s): Parts a-d of this section are
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.
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a)
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Description of the financial instrument, type of instrument
(Identification code)
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Chesnara plc Ordinary Shares of 5
pence each
(GB00B00FPT80)
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b)
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Nature of the transaction
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GRANT 1
Granted under the Chesnara Buy-out
Plan, the option is subject to a performance target over a period
of one year.
Subject to the achievement of the
performance target, the option will become exercisable on
15th May 2025 and remain exercisable up to and including
15th May 2034 if not exercised before that
date.
GRANT 2
Granted under the Chesnara Buy-out
Plan, the option is subject to a performance target over a period
of two years.
Subject to the achievement of the
performance target, the option will become exercisable on
15th May 2026 and remain exercisable up to and including
15th May 2034 if not exercised before that
date.
GRANT 3
Granted under the Chesnara Buy-out
Plan, the option is subject to a performance target over a period
of three years.
Subject to the achievement of the
performance target, the option will become exercisable on
15th May 2027 and remain exercisable up to and including
15th May 2034 if not exercised before that
date.
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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Nil
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GRANT 1
188,492 Ordinary shares of 5p
each
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Nil
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GRANT 2
99,206 Ordinary shares of 5p
each
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Nil
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GRANT 3
75,397 Ordinary shares of 5p
each
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d)
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Aggregated information
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Aggregated volume
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Price
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- 363,095 ORDINARY
SHARES OF 5P EACH
- Nil
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e)
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Date of the transaction (YYYY - MM - DD)
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2024-05-15
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f)
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Place of the transaction
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XOFF
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Name of authorised official of issuer responsible for making
notification: - Amanda
Wright
Date of notification: - 16th May 2024
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For further information, please
contact:
Investor
Enquiries
Sam
Perowne
Head of Strategic Development &
Investor Relations
Chesnara plc
E - sam.perowne@chesnara.co.uk
Media
Enquiries
Roddy Watt
Director, Capital Markets
FWD
T - 020 7280 0651 / 07714 770
493
E - roddy.watt@fwdconsulting.co.uk
Notes to
Editors
Chesnara (CSN.L) is a European life
and pensions consolidator listed on the London Stock
Exchange. It administers approximately one million policies
and operates as Countrywide Assured in the UK, as The Waard Group
and Scildon in the Netherlands, and as Movestic in
Sweden.
Following a three-pillar strategy,
Chesnara's primary responsibility is the efficient administration
of its customers' life and savings policies, ensuring good customer
outcomes and providing a secure and compliant environment to
protect policyholder interests. It also adds value by writing
profitable new business in Sweden, the Netherlands and the UK and
by undertaking value-adding acquisitions of either companies or
portfolios.
Consistent delivery of the Company
strategy has enabled Chesnara to increase its dividend for 19 years
in succession.
Further details are available on the
Company's website (www.chesnara.co.uk).