13 March 2023
SIG plc
("SIG" or the "Company")
Notification and public disclosure of Deferred Share Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons
LEI: 213800VDC1BKJEZ8PV53
SIG plc announces that on 10 March 2023, the following awards were granted over the Company's Ordinary Shares of 10 pence each ("Shares") under the SIG plc Bonus Plan to certain directors / persons discharging managerial responsibility ("PDMRs") of the Company.
|
Name |
Status |
Number of Shares under the Deferred Share Awards |
Option Price |
|
Ian Ashton |
Chief Financial Officer |
505,572 |
£Nil |
The SIG plc Bonus Plan provides that, in accordance with the Directors' Remuneration Policy approved by shareholders in 2020, for each Executive Director one-third of his annual bonus earned up to 100% of his annual salary is to be deferred into Shares and that all bonus earned above 100% of salary is to be deferred into Shares (the "Deferred Share Awards").
The number of Shares granted under the Deferred Share Awards has been calculated using a price of 40 pence per Share being the closing share price on 9 March 2023. No consideration was paid for the grant of the Deferred Share Awards which are structured as nil cost options.
The normal vesting date for the Deferred Share Awards will be 10 March 2026, being the third anniversary of the award date. Once vested, the Deferred Share Awards will normally be exercisable until the day before the tenth anniversary of the award date. The Shares that are the subject of the Deferred Share Awards are subject to a further two-year holding period commencing on vesting.
This announcement and the following disclosures are made in accordance with Article 19 of the UK Market Abuse Regulation.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Ian Ashton |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
PDMR (Chief Financial Officer) |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
SIG plc |
|
|
b) |
LEI |
213800VDC1BKJEZ8PV53 |
|
|
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 Identification code |
Ordinary shares of 10p
ISIN: GB0008025412 |
|
|
b) |
Nature of the transaction |
Grant of Deferred Share Awards for nil consideration |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
GBP Nil |
505,572 |
|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
|
|
e) |
Date of the transaction |
10 March 2023 |
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
Enquiries:
|
|
|
|
|
SIG plc |
|
|
|
Andrew Watkins |
Group General Counsel & Company Secretary |
+44 (0) 114 285 6300 |
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