PR Newswire
London, May 26
Pendragon PLC ("the Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Awards under the Pendragon Value Creation Plan ("VCP")
Following approval of the Pendragon Value Creation Plan at the Annual General Meeting on 27 April 2017 the Company has today made awards under the Pendragon Value Creation Plan to the directors of the Company listed below.
Under the awards, participants will be granted a nil cost option over such number of shares that deliver a share in 10% of the value created for shareholders over four years (to 31 December 2020) above a threshold return level of 10% p.a. compound above the starting price of 30.16p, being the average share price for the three months preceding the start of the 2017 financial year. Any awards which vest after the four year period will be subject to a further one year holding period.
Full details of the Pendragon Value Creation Plan are available in the Company's 2016 Annual Report available on the Company's website (www.pendragonplc.com).
The number of shares under the nil cost option will be determined at the end of four years and will be calculated at that time by reference to the director's percentage entitlement to the growth in value below.
| Director | Position | Percentage entitlement of 10% pool | Percentage entitlement of growth in value |
| Trevor Finn | Chief Executive | 30% | 3% |
| Martin Casha | Chief Operating Officer | 20% | 2% |
| Tim Holden | Finance Director | 10% | 1% |
Notification of Deal Forms of each PDMR can be found below.
| 1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
| a) | Name | Trevor Finn | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Chief Executive | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Pendragon PLC | ||||
| b) | LEI | 213800VRSPZFOGMMIS18 | ||||
| 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 financial instrument, type of instrument and identification code | Ordinary Shares of £0.05 each in the capital of Pendragon PLC ISIN: GB00B1JQBT10 | ||||
| b) | Nature of transaction | Grant of options under the Pendragon Value Creation Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated Information | n/a | ||||
| e) | Date of transaction | 26 May 2017 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
| a) | Name | Martin Casha | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Chief Operating Officer | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Pendragon PLC | ||||
| b) | LEI | 213800VRSPZFOGMMIS18 | ||||
| 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 financial instrument, type of instrument and identification code | Ordinary Shares of £0.05 each in the capital of Pendragon PLC ISIN: GB00B1JQBT10 | ||||
| b) | Nature of transaction | Grant of options under the Pendragon Value Creation Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated Information | n/a | ||||
| e) | Date of transaction | 26 May 2017 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
| a) | Name | Tim Holden | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Finance Director | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Pendragon PLC | ||||
| b) | LEI | 213800VRSPZFOGMMIS18 | ||||
| 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 financial instrument, type of instrument and identification code | Ordinary Shares of £0.05 each in the capital of Pendragon PLC ISIN: GB00B1JQBT10 | ||||
| b) | Nature of transaction | Grant of options under the Pendragon Value Creation Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated Information | n/a | ||||
| e) | Date of transaction | 26 May 2017 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
RICHARD MALONEY
COMPANY SECRETARY
26 MAY 2017
Enquiries: Pendragon PLC Trevor Finn Tel: 01623 725114
Tim Holden
RLM Finsbury Gordon Simpson Tel: 0207 2513801
-ENDS-
