Law Debenture Corp PLC Director/PDMR Shareholding (7381Q)
01 Marzo 2021 - 4:00PM
UK Regulatory
TIDMLWDB
RNS Number : 7381Q
Law Debenture Corp PLC
01 March 2021
1 March 2021
The Law Debenture Corporation p.l.c.
Grant of Awards under The Law Debenture Corporation p.l.c.'s
Long Term Incentive Plan
Notification of Transactions by Persons Discharging Managerial
Responsibility
The Law Debenture Corporation p.l.c. (the 'Corporation') has
been notified of the following transactions in the Corporation's
ordinary shares of 5 pence each ('Ordinary Shares') undertaken by
directors / persons discharging managerial responsibility ('PDMRs')
on 1 March 2021 in accordance with the rules of the Corporation's
Long Term Incentive Plan ('LTIP'). The LTIP was established to
reward eligible participants in a way that aligns their interests
with the interests of shareholders and with the Corporation's
long-term strategic plan.
Name Status Number of Ordinary Option Price
Shares awarded
Denis Jackson Chief Executive 45,595 GBPNil
Officer
---------------- ------------------- -------------
Trish Houston Chief Operating 32,267 GBPNil
Officer
---------------- ------------------- -------------
Furthermore, options to acquire Ordinary Shares have been
awarded to members of the senior management team within the
Corporation's group of companies. In aggregate, options to acquire
142,769 Ordinary Shares have been awarded under the LTIP ('LTIP
Awards') on 1 March 2021.
No consideration was paid for the grant of the LTIP Awards which
are structured as nil cost options. The number of Ordinary Shares
granted under each LTIP Award has been calculated using an Ordinary
Share price of 712.8 pence per share being the average of the
closing share prices over the five dealing days preceding the date
of grant.
The vesting date of the LTIP Awards will be 1 March 2024, being
the third anniversary of the award date. Once vested, the LTIP
Awards will normally be exercisable until the day before the tenth
anniversary of the award date. The LTIP Awards are subject to a
two-year holding period commencing on vesting.
The LTIP Awards will vest after three years based on the
compounded annual growth rate in the Earnings per Share ('EPS') of
the Corporation's independent professional services business
measured over a three year period. At 4% p.a. growth 25% of the
LTIP Award will vest rising on a straight-line basis to 100% for
10% p.a. growth. Under the LTIP rules, the Remuneration Committee
has full discretion to ensure that the final vesting outturn
reflects all relevant factors, including consideration of any
windfall gains.
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation.
1 Details of the person discharging managerial responsibilities
a) Name Denis Jackson
------------------------------- ---------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name The Law Debenture Corporation p.l.c.
------------------------------- ---------------------------------------------
b) LEI 2138006E39QX7XV6PP21
------------------------------- ---------------------------------------------
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 5 pence each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction Grant of nil cost option under The
Law Debenture Corporation p.l.c. Long
Term Incentive Plan
------------------------------- ---------------------------------------------
c) Price(s) and volume(s)
--------------------------- -------------
Price(s) Volume(s)
--------------------------- -------------
Nil consideration 45,595
---------------------------------------------------------------- -------------
d) Aggregated information
- Aggregated volume 45,595
- Price Nil consideration
e) Date of the transaction 1 March 2021
------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
a) Name Trish Houston
------------------------------- --------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name The Law Debenture Corporation p.l.c.
------------------------------- --------------------------------------------------
b) LEI 2138006E39QX7XV6PP21
------------------------------- --------------------------------------------------
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 5 pence each
financial instrument,
type of instrument
Identification code GB0031429219
b) Nature of the transaction Grant of nil cost option under The
Law Debenture Corporation p.l.c. Long-Term
Incentive Plan
------------------------------- --------------------------------------------------
c) Price(s) and volume(s)
------------------------------ ---------------
Price(s) Volume(s)
------------------------------ ---------------
Nil consideration 32,267
------------------------------------------------------------------- ---------------
d) Aggregated information
- Aggregated volume 32,267
- Price Nil consideration
e) Date of the transaction 1 March 2021
------------------------------- --------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------------
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END
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March 01, 2021 10:00 ET (15:00 GMT)
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