Speedy Hire PLC Director/PDMR Shareholding (8517G)
July 21 2023 - 11:10AM
UK Regulatory
TIDMSDY
RNS Number : 8517G
Speedy Hire PLC
21 July 2023
Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Managerial
Responsibilities
On 21 July 2023 awards (the "PSP Awards") over ordinary shares
of 5 pence each in the share capital of the Company ("Shares") were
granted under the Company's 2014 Performance Share Plan ("PSP") to
persons discharging managerial responsibilities as detailed below
(the "PDMRs"). The number of Shares referred to below is the
maximum available if the performance conditions are met in full. In
the normal course of events, the PSP Awards will become exercisable
as from the third anniversary of the grant, subject to each PDMR's
continued service and the extent to which the following objective
earnings per share ("EPS") and total shareholder return performance
("TSR") conditions have been satisfied:
-- 50% of the PSP Awards will be subject to an EPS condition.
25% of this part of an award vests for EPS of 6.25 pence with full
vesting of this part of an award for EPS of 8.00 pence for the
financial year ending 31 March 2026. A sliding scale operates
between these points; and
-- 50% of the PSP Awards will be subject to a relative TSR
condition based on the Group's performance against the constituents
of the FTSE 250 (excluding investment trusts) measured over three
years from the date of award. 25% of this part of an Award vests if
the Company's TSR is ranked at the median of the TSRs of the
comparator group, with full vesting of this part of an award for
upper quartile performance. A sliding scale operates between these
points.
In addition to the above, the Company's Remuneration Committee
retains discretion to reduce the level of vesting of the PSP Awards
in response to exceptional circumstances. This will include an
assessment as to whether a windfall gain has occurred between grant
and vesting of the 2023 award, in 2026. If the Committee determines
that a windfall has occurred upon vesting, then it will consider
the extent to which the number of shares vesting will be scaled
back.
The PSP Awards were granted in the form of nil-cost options and
remain subject to the rules of the PSP at all times including that
awards to executive directors are subject to a two-year post
vesting holding period (net of tax).
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Dan Evans
------------------------------ -------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position / status Chief Executive
------------------------------ -------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Speedy Hire Plc
------------------------------ -------------------------------------
b) LEI 213800U78SIYAZDYXM61
------------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
the financial
instrument
Identification GB0000163088
code
------------------------------ -------------------------------------
b) Nature of the Grant of award under the Speedy Hire
transaction Plc Performance Share Plan 2014
------------------------------ -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 1,212,284
------------------------------ -------------------------------------
d) Aggregated
information
N/A single transaction
* Aggregated volume
* Price
------------------------------ -------------------------------------
e) Date of the transaction 2023-07-21
------------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Rayner
------------------------------ -------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position / status Chief Financial Officer
------------------------------ -------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Speedy Hire Plc
------------------------------ -------------------------------------
b) LEI 213800U78SIYAZDYXM61
------------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
of the financial
instrument
Identification GB0000163088
code
------------------------------ -------------------------------------
b) Nature of the Grant of award under the Speedy Hire
transaction Plc Performance Share Plan 2014
------------------------------ -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 943,426
------------------------------ -------------------------------------
d) Aggregated
information
N/A single transaction
* Aggregated volume
* Price
------------------------------ -------------------------------------
e) Date of the 2023-07-21
transaction
------------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ -------------------------------------
Enquiries:
Neil Hunt
Company Secretary
Speedy Hire Plc
Telephone: 01942 720000
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END
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