Secure Trust Bank PLC Director/PDMR Shareholding (9837U)
31 Marzo 2023 - 3:00PM
UK Regulatory
TIDMSTB
RNS Number : 9837U
Secure Trust Bank PLC
31 March 2023
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
31 March 2023
For immediate release
Secure Trust Bank PLC (the "Company")
Grant of awards under the Company's 2017 Long Term Incentive
Plan ("LTIP")
On 31 March 2023 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 66,306 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Rachel Lawrence 41,619 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Nick Davies 18,125 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
John Bevan 17,168 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Geoff Ray 12,692 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Julian Hartley 15,000 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
Katie Docherty 13,849 GBP0.40 per Ordinary Share
--------------------------- ---------------------------
The number of shares under each option was set by reference to a
value per Ordinary Share of 1,040p, which was the 12 month average
mid-market price determined between 1 January to 31 December
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 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 ; (2) return on average equity (target range
of 14% - 16%); (3) earnings per share ('EPS') growth (target range
of 3-year compound annual growth rate 20% - 30%, measured from 2022
EPS for continuing businesses); and (4) an assessment of the
Company's approach to risk management over the performance
period.
The performance conditions also include an underpin measure
which includes an assessment of general financial performance,
shareholder experience, risk management performance and progress
against the Group's strategy .
The performance period in each case is a period of three years
starting on 1 January 2023 and ending with 31 December 2025.
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 217,307 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 7,937 GBP0.40 per Ordinary Share
------------------------- ---------------------------
The number of shares under each option was set by reference to a
value per Ordinary Share of 1,040p, which was the 12 month average
mid-market price determined between 1 January to 31 December
2022.
In total 63,975 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 66,306
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
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 41,619
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
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 18,125
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
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 17,168
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Geoff Ray
-------------------------- ----------------------------------------
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 12,692
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Julian Hartley
-------------------------- ----------------------------------------
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 15,000
----------
-------------------------- ----------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ----------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ----------------------------------------
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 13,849
----------
-------------------------- ---------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ---------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ---------------------------------------
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 7,937
----------
-------------------------- ---------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------- ---------------------------------------
f) Date of the transaction 31 March 2023
-------------------------- ---------------------------------------
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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March 31, 2023 09:00 ET (13:00 GMT)
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