Secure Trust Bank PLC Director/PDMR Shareholding (3780H)
05 Aprile 2022 - 5:56PM
UK Regulatory
TIDMSTB
RNS Number : 3780H
Secure Trust Bank PLC
05 April 2022
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
5 April 2022
For immediate release
This announcement contains inside information.
Secure Trust Bank PLC (the "Company")
Grant of awards under the Company's 2017 Long Term Incentive
Plan ("LTIP")
On 5 April 2022 the Company granted options over ordinary shares
("Ordinary Shares") under the LTIP to the following PDMRs:
Number of Ordinary
Shares over which options
PDMR granted Exercise price
David McCreadie 53,065 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Rachel Lawrence 33,308 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Jon Bowers 10,189 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Nick Davies 14,506 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
John Bevan 13,739 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Katie Docherty 10,750 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
The number of shares under each option was set by reference to a
value per Ordinary Share of 1,261.66p, which was the average
mid-market price determined between 31 March 2022 and 4 April
2022.
Each option has been granted subject to performance conditions
based on sliding scale measures of: (1) the Company's total
shareholder return over the performance period (see below) relative
to the total shareholder return of a group of eight comparator
companies over the same period; (2) the Company's total shareholder
return over the performance period relative to the total
shareholder return performance of the current constituent companies
of the FTSE Small Cap Index (excluding investment trusts) over the
same period ; (3) the compound annual rate of growth of the
Company's total shareholder return over the performance period (10%
p.a. for threshold vesting, to 30% p.a. for full vesting of this
element); and (4) an assessment of the Company's approach to risk
management over the performance period.
The performance conditions also include an underpin measure in
respect of the total shareholder return elements, which includes an
assessment of general financial performance, shareholder experience
and risk management performance.
The performance period in each case is a period of three years
starting on 1 January 2022 and ending with 31 December 2024.
Each of the four performance conditions noted above accounts for
25% of the option.
Each option will, ordinarily, vest on the date on which the
Company's Remuneration Committee of the Board of Directors,
determines the extent to which the performance conditions have been
satisfied. Each option will be released so that the participant is
entitled to exercise the vested Ordinary Shares on the vesting date
except in the case of Rachel Lawrence and David McCreadie when the
date of release will be at the end of a holding period which shall
end on the second anniversary of the vesting date.
In total 176,362 share options with performance conditions were
granted to participants in the LTIP.
In accordance with the terms of the options, the exercise price
payable may be waived before exercise.
The Company further granted options over Ordinary Shares without
performance conditions but subject only to the participant's
continued service through to the applicable vesting date, but with
discretion retained for the Remuneration Committee to potentially
reduce the award on settlement if it considers appropriate to do so
under the LTIP plan to the following PDMRs:
Number of Ordinary
Shares over which award
PDMR granted Exercise price
Chris Harper 6,352 GBP0.40 per Ordinary Share
------------------------- ---------------------------
The number of shares under each option was set by reference to a
value per Ordinary Share of 1,261.66p, which was the average
mid-market price determined between 31 March 2022 and 4 April
2022.
In total 54,427 share options without performance conditions
were granted to participants in the LTIP.
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name David McCreadie
-------------------------- ----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Positio n / status Director/PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer
--------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ----------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ----------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ----------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of nominal-cost option over
ordinary shares under the Secure Trust
Bank 2017 Long Term Incentive Plan
-------------------------- ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 53,065
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Rachel Lawrence
-------------------------- ----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Positio n / status Director/PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer
--------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ----------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ----------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ----------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of nominal-cost option over
ordinary shares under the Secure Trust
Bank 2017 Long Term Incentive Plan
-------------------------- ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 33,308
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Jon Bowers
-------------------------- ----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Positio n / status PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer
--------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ----------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ----------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ----------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of nominal-cost option over
ordinary shares under the Secure Trust
Bank 2017 Long Term Incentive Plan
-------------------------- ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 10,189
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Nick Davies
-------------------------- ----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Positio n / status PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer
--------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ----------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ----------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ----------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of nominal-cost option over
ordinary shares under the Secure Trust
Bank 2017 Long Term Incentive Plan
-------------------------- ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 14,506
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name John Bevan
-------------------------- ----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Positio n / status PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer
--------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ----------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ----------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ----------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of nominal-cost option over
ordinary shares under the Secure Trust
Bank 2017 Long Term Incentive Plan
-------------------------- ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 13,739
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Katie Docherty
-------------------------- ---------------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a) Positio n / status PDMR
-------------------------- ---------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ---------------------------------------
3. Details of the issuer
-------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ---------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ---------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ---------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ---------------------------------------
c) Nature of the transaction Grant of nominal-cost restricted stock
option over ordinary shares under
the Secure Trust Bank 2017 Long Term
Incentive Plan
-------------------------- ---------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 10,750
----------
-------------------------- ---------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ---------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ---------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Chris Harper
-------------------------- ---------------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a) Positio n / status PDMR
-------------------------- ---------------------------------------
b) Initial notification Initial notification
/ amendment
-------------------------- ---------------------------------------
3. Details of the issuer
-------------------------------------------------------------------
a) Name Secure Trust Bank PLC
-------------------------- ---------------------------------------
b) LEI 213800CXIBLC2TMIGI76
-------------------------- ---------------------------------------
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 40p each in Secure
financial instrument, Trust Bank PLC.
t ype of instrument
-------------------------- ---------------------------------------
b) Identification code GB00B6TKHP66
-------------------------- ---------------------------------------
c) Nature of the transaction Grant of nominal-cost restricted stock
option over ordinary shares under
the Secure Trust Bank 2017 Long Term
Incentive Plan
-------------------------- ---------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s) Nil 6,352
----------
-------------------------- ---------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ---------------------------------------
f) Date of the transaction 05 April 2022
-------------------------- ---------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------
The person responsible for making this announcement is Mark
Stevens.
Mark Stevens
Company Secretary
Secure Trust Bank PLC
+44 121 693 9100
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END
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April 05, 2022 11:56 ET (15:56 GMT)
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