XPS Pensions Group PLC Director/PDMR Shareholding
04 Juli 2024 - 10:00AM
RNS Regulatory News
RNS Number : 0689V
XPS Pensions Group PLC
04 July 2024
![https://ir.q4europe.com/solutions/xps/logo.png?a=a](https://dw6uz0omxro53.cloudfront.net/3099249/b22b7bc8-c89e-4db9-9b18-da9706f1a761.png)
4 July 2024
XPS Pensions Group
plc
(the "Company")
TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
XPS announces that, on 1 July 2024,
Ben Bramhall (Co-Chief Executive Officer), Paul Cuff (Co-Chief
Executive Officer) and Snehal Shah (Chief Financial Officer), all
Directors and persons discharging managerial responsibilities
("PDMRs"), were granted awards under the Company's Performance
Share Plan ("PSP") as set out below.
The value of the awards was
calculated by reference to the price of an ordinary share on 28
June 2024, being £2.99. The awards were made in the form of
nominal-cost options which will generally become exercisable on the
third anniversary of the date of grant, subject to the satisfaction
of the following performance targets: (1) 70% of the awards are
subject to an Earnings Per Share (EPS) growth target whereby 25%
vests for compounded annual growth (CAG) of 5% and 100% vests for
CAG of 10% (with vesting on a straight-line basis for performance
between 5% and 10% CAG and no vesting for performance below 5%
CAG); (2) 20% of the awards are subject to a relative Total
Shareholder Return (TSR) target whereby 25% vests for median
ranking and 100% vests for upper quartile ranking (with vesting on
a straight-line basis for performance between median and upper
quartile ranking and no vesting for a ranking below median), the
TSR Comparator Group consists of the constituents of the FTSE Small
Cap Index (excluding investment trusts); and (3) 10% of the awards
are subject to a performance measure relating to reducing the
Company's CO2 emissions (scope 1 and 2), whereby 25% vests for 20%
reduction in emissions / number of employees and 100% vests for 30%
reduction in emissions / number of employees (with vesting on a
straight-line basis for reduction between 20% and 30% and no
vesting for a reduction less than 20%).
Once vested, the options will be
exercisable until the tenth anniversary of the date of grant,
unless the exercise period is shortened in accordance with the PSP
rules.
Further details are set out in the
below notification, made in accordance with the requirements of the
UK Market Abuse Regulation.
1.
|
Details of PDMR/person closely associated with them
('PCA')
|
a)
|
Name
|
Benjamin Bramhall
|
b)
|
Position/status
|
Co-Chief Executive Officer /
PDMR
|
c)
|
Initial notification/
amendment
|
Initial
notification
|
2.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
XPS Pensions Group
plc
|
b)
|
LEI
|
2138004Y8OBPJEAACJ11
|
3.
|
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 transaction(s) has been
conducted
|
a)
|
Description of the financial
instrument
|
Ordinary shares of 0.05
pence each ("Ordinary Shares")
ISIN: GB00BDDN1T20
|
b)
|
Nature of the transaction
|
Grant of nominal-cost options over
Ordinary Shares under the XPS Pensions Group plc Performance Share
Plan, which will vest on 1 July 2027, subject to the satisfaction
of performance conditions.
|
c)
|
Price(s) and
volume(s)
|
Price(s)
|
Volume(s)
|
0.05p
|
186,657 Ordinary Shares
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
n/a (single transaction)
|
e)
|
Date of the transaction
|
1 July 2024
|
f)
|
Place of the
transaction
|
n/a
|
1.
|
Details of PDMR/person closely associated with them
('PCA')
|
a)
|
Name
|
Paul Cuff
|
b)
|
Position/status
|
Co-Chief Executive Officer /
PDMR
|
c)
|
Initial notification/
amendment
|
Initial
notification
|
2.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
XPS Pensions Group
plc
|
b)
|
LEI
|
2138004Y8OBPJEAACJ11
|
3.
|
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 transaction(s) has been
conducted
|
a)
|
Description of the financial
instrument
|
Ordinary shares of 0.05
pence each ("Ordinary Shares")
ISIN: GB00BDDN1T20
|
b)
|
Nature of the transaction
|
Grant of nominal-cost options over
Ordinary Shares under the XPS Pensions Group plc Performance Share
Plan, which will vest on 1 July 2027, subject to the satisfaction
of performance conditions.
|
c)
|
Price(s) and
volume(s)
|
Price(s)
|
Volume(s)
|
0.05p
|
186,657 Ordinary Shares
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
n/a (single transaction)
|
e)
|
Date of the transaction
|
1 July 2024
|
f)
|
Place of the
transaction
|
n/a
|
1.
|
Details of PDMR/person closely associated with them
('PCA')
|
a)
|
Name
|
Snehal Shah
|
b)
|
Position/status
|
Chief Financial Officer /
PDMR
|
c)
|
Initial notification/
amendment
|
Initial
notification
|
2.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
XPS Pensions Group
plc
|
b)
|
LEI
|
2138004Y8OBPJEAACJ11
|
3.
|
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 transaction(s) has been
conducted
|
a)
|
Description of the financial
instrument
|
Ordinary shares of 0.05
pence each ("Ordinary Shares")
ISIN: GB00BDDN1T20
|
b)
|
Nature of the transaction
|
Grant of nominal-cost options over
Ordinary Shares under the XPS Pensions Group plc Performance Share
Plan, which will vest on 1 July 2027, subject to the satisfaction
of performance conditions.
|
c)
|
Price(s) and
volume(s)
|
Price(s)
|
Volume(s)
|
0.05p
|
134,531 Ordinary
Shares
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
n/a (single transaction)
|
e)
|
Date of the transaction
|
1 July 2024
|
f)
|
Place of the
transaction
|
n/a
|
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