St. Modwen Properties PLC Director/PDMR Shareholding (8503H)
06 August 2021 - 10:30AM
UK Regulatory
TIDMSMP TIDMTTM
RNS Number : 8503H
St. Modwen Properties PLC
06 August 2021
Date of issue: 6 August 2021
LEI: 213800WMV4WVES8TQH05
St. Modwen Properties PLC
Notification and public disclosure of transactions by person
discharging managerial responsibilities
St. Modwen Properties PLC (the "Company") announces t hat, on 4
August 2021, Sarwjit Sambhi, an executive director of the Company,
exercised 81,353 nil cost options ("Options") over the Company's
ordinary shares of GBP0.10 each ("Shares") under the St. Modwen
Properties PLC 2017 Performance Share Plan ("PSP"). The Options
vested in accordance with the terms of the PSP at 89.76% with time
pro-rating applied at one-third upon the sanction by the High Court
of Justice in England and Wales of the scheme of arrangement in
connection with the recommended cash acquisition of the Company by
Brighton Bidco Limited on 4 August 2021.
The number of Shares retained represents the vested Shares
allocated to Sarwjit Sambhi following deductions for income tax and
national insurance contributions due on exercise of the
Options.
Number of Options Number of Shares sold to cover Number of Shares
exercised income tax and national insurance retained
due on exercise
81,353 38,305 43,048
----------------------------------- -----------------
The following notifications are made in accordance with the
requirements of Article 19(3) of the EU Market Abuse
Regulation.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Sarwjit Sambhi
------------------------------- ------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
a) Position / status PDMR - Chief Executive Officer
------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ------------------------------------------
3. Details of issuer
---------------------------------------------------------------------------
a) Name St. Modwen Properties PLC
------------------------------- ------------------------------------------
b) LEI 213800WMV4WVES8TQH05
------------------------------- ------------------------------------------
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 Nil cost options over ordinary shares
financial instrument of GBP0.10 each in St. Modwen Properties
PLC
Identification Code
GB0007291015
------------------------------- ------------------------------------------
b) Nature of the transaction Exercise of 81,353 nil cost options
granted under the St. Modwen Properties
PLC 2017 Performance Share Plan award
on 26 April 2021.
------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 81,353
----------
------------------------------- ------------------------------------------
d) Aggregated information N/A
* Aggregated volume
* Aggregated price
------------------------------- ------------------------------------------
e) Date of the transaction 2021-08-04
------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Sarwjit Sambhi
------------------------------- -----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position / status PDMR - Chief Executive Officer
------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- -----------------------------------------
3. Details of issuer
--------------------------------------------------------------------------
a) Name St. Modwen Properties PLC
------------------------------- -----------------------------------------
b) LEI 213800WMV4WVES8TQH05
------------------------------- -----------------------------------------
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 Ordinary shares of GBP0.10 each in
financial instrument St. Modwen Properties PLC
Identification Code GB0007291015
------------------------------- -----------------------------------------
b) Nature of the transaction Disposal of 38,305 shares following
exercise of nil cost options under
the St. Modwen Properties PLC 2017
Performance Share Plan award granted
on 26 April 2021 to cover tax liability
arising on exercise.
------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP5.59 per share 38,305
----------
------------------------------- -----------------------------------------
d) Aggregated information N/A
* Aggregated volume
* Aggregated price
------------------------------- -----------------------------------------
e) Date of the transaction 2021-08-04
------------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------------
For further information, please contact:
St. Modwen Properties PLC www.stmodwen.co.uk
Tom Gough, Head of Corporate Affairs 0121 222 9400
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