Royal Mail PLC Director/PDMR Shareholding (6976Q)

TIDMRMG

RNS Number : 6976Q

Royal Mail PLC

16 October 2013

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA

16 October 2013

Royal Mail plc

Director/PDMR shareholding: Disclosure and Transparency Rules 3.1.4R(1)(a)

In accordance with the FCA's Disclosure and Transparency Rules, Royal Mail plc (the "Company") announces that on 16 October 2013 the Directors of the Company and Persons Discharging Managerial Responsibilities ("PDMRs") have the following interests in the Company's ordinary shares ("Ordinary Shares") (all of which are beneficial or, where indicated below, are the aggregate interests of the relevant Director or PDMR and persons connected with that Director or PDMR):

 
 Name of Director or    Number of Ordinary Shares 
  PDMR 
  Directors 
 Donald Brydon CBE      3,030 
 Orna Ni-Chionna        3,030 
 Moya Greene            3,643 
 Matthew Lester         3,643 
 Mark Higson            3,643 
 John Allan CBE(1)      3,257 
 Jan Babiak             3,030 
 Nick Horler            3,030 
 Cath Keers             3,030 
 Paul Murray            3,030 
 Les Owen               3,030 
  PDMRs 
 Stephen Agar           3,643 
 Catherine Doran        3,643 
 John Duncan            3,643 
 Derek Foster           3,643 
 Neil Harnby            3,643 
 Nick Landon            613 
 Jon Millidge           3,870 
 Mike Newnham(1)        2,052 
 Shane O'Riordain       3,643 
 Emily Pang             3,037 
 Gary Simpson           2,128 
 Sue Whalley            3,870

Note: (1) Includes interests in Ordinary Shares of persons connected with the relevant Director or PDMR.

These interests include: (A) Ordinary Shares applied for, and acquired, pursuant to the terms of the Employee Priority Offer or the Retail Offer that formed part of the initial public offering of Ordinary Shares by HM Government (the "IPO"); and (B) Ordinary Shares awarded to each of the Executive Directors and PDMRs listed above as free shares pursuant to the Employee Free Shares Offer.

The Directors made applications in the IPO for an amount equal to more than GBP500,000, in aggregate. In accordance with the allocation policy applied to the IPO, the Directors received fewer Ordinary Shares than the total amount they applied for. All Directors made applications through the Employee Priority Offer, which formed part of the Direct Retail Offer.

Like other Eligible Employees applying in the IPO through the Employee Priority Offer, all valid applications submitted by Directors and PDMRs were satisfied in full up to a total number of Ordinary Shares worth GBP10,000 at the Offer Price. Like any other Eligible Employee applying in the IPO through the Employee Priority Offer for an amount above GBP10,000, Directors and PDMRs were treated as making a separate application in the Direct Retail Offer for any amount applied for in excess of GBP10,000. These applications were subject to the same allocation policy that applied to members of the public who applied in the Direct Retail Offer. No Directors or PDMRs received any priority application in the IPO beyond that applicable to all Eligible Employees. Ordinary Shares were acquired by Directors, PDMRs and their connected persons in the IPO at the Offer Price of GBP3.30 (i.e. the same price at which Ordinary Shares were acquired in the IPO by members of the public).

In addition, as Eligible Employees, each of the Executive Directors and PDMRs listed above have been awarded 613 free Ordinary Shares as part of the Employee Free Shares Offer put in place as part of the arrangements which the Secretary of State for Business Innovation and Skills is required by section 3 of the Postal Services Act 2011 to make for the establishment of an employee share scheme. The Executive Directors and PDMRs have been awarded the same number of free Ordinary Shares as each other full-time Eligible Employee who did not opt-out of the Employee Free Shares Offer. These Ordinary Shares will be held in trust by the trustee of the Royal Mail Share Incentive Plan (the "Plan"). The Plan has been approved by HMRC under Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003.

The Non-Executive Directors, while eligible to receive Employee Free Shares as part of the Employee Free Shares Offer, decided it would be inappropriate, as independent non-executive directors, to receive Employee Free Shares and so opted out of receiving Employee Free Shares.

The Company was notified of the above transactions on 15 and 16 October 2013.

Details of the notifications received by the Company with respect to each of the Directors and PDMRs listed above and persons connected with John Allan and Mike Newnham are set out in the Appendix to this announcement.

Enquiries

 
 Royal Mail plc 
 
  Shane O'Riordain 
  Phone: 020 7449 8105 
  Email: shane.o'riordain@royalmail.com 
  Beth Longcroft 
  Phone: 020 7449 8241 
  Email: beth.longcroft@royalmail.com 
  Mish Tullar 
  Phone: 020 7449 8239 
  Email: mish.tullar@royalmail.com 
  Royal Mail press office out 
  of hours: 0203 338 1007 
 
 
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This announcement is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the "United States"), Australia, Canada, Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction. This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States, Australia, Canada, Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction. The ordinary shares of Royal Mail plc have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold within the United States except in transactions exempt from, or in a transaction not subject to, the registration requirements of the Securities Act. The ordinary shares of Royal Mail have not been registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions.

Appendix

Annex DTR3