15 July 2024
Polar Capital Holdings plc ("Polar
Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Third Vesting of 2019 Long Term
Incentive Plan
11 July 2022 was the third
anniversary of grant, and the awards granted to Gavin Rochussen,
Alexander Black, and Iain Evans under the Long Term Incentive Plan
("LTIP") vested. Details of the original grant on 11 July 2019 are
contained in RNS No. 6003F and details of the first two vestings
are contained in RNS Nos. 3329S & 9448F.
The terms of the LTIP award provided
for vesting in equal tranches on the third, fourth and fifth
anniversaries of grant, subject to continued employment and
performance conditions.
Second Vesting of 2019 Conditional
Award
11 July 2022 was the third
anniversary of grant, and the Conditional Awards granted to Samir
Ayub and Nicholas Farren under the Company's Executive Incentive
Plan vested. Details of the original grant on 11 July 2019 are
contained in RNS No. 6708F and details of the first two vestings
are contained in RNS Nos. 3329S & 9448F.
The terms of the LTIP award provided
for vesting in equal tranches on the third, fourth and fifth
anniversaries of grant, subject to continued employment.
11 July 2024 was the fifth
anniversary of both the LTIP and the Conditional Awards, and a
further tranche of shares were released to the participants. These
releases have been satisfied from shares held in the Employee
Benefit Trust; at each vesting date there is a sale of sufficient
shares to cover tax liabilities.
As the fifth anniversary of grant has
now been reached, the net number of shares retained from the first
and second vestings under the Holding Period, along with the net
shares from the third vesting on 11 July 2024, have been released
to the PDMRs.
Details of the third vesting of the
2019 LTIP and Conditional awards, and the sale of shares for each
PDMR are provided below:
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Gavin Rochussen
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Acquisition of an interest in the
shares of the Company on vesting of one third of the 2019 LTIP
Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
115,610
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
11-07-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Gavin Rochussen
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Sale of shares of the Company on
vesting of one third of the 2019 LTIP Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
600.00p
|
63,111
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
12-07-2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Samir Ayub
|
|
2
|
Reason for the 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
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Acquisition of an interest in the
shares of the Company on vesting of one third of the 2019
conditional award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
3,334
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
11-07-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Samir Ayub
|
|
2
|
Reason for the 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
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Sale of shares of the Company on
vesting of one third of the 2019 conditional award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
600.00p
|
1,820
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
12-07-2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Alexander Black
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Investment Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Acquisition of an interest in the
shares of the Company on vesting of one third of the 2019 LTIP
Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
14,530
|
|
|
|
|
|
e)
|
Date of the transaction
|
11-07-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Alexander Black
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Investment Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Sale of shares of the Company on
vesting of one third of the 2019 LTIP Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
600.00p
|
7,932
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
12-07-2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Iain Evans
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Global Head of
Distribution
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Acquisition of an interest in the
shares of the Company on vesting of one third of the 2019 LTIP
Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
58,120
|
|
|
|
|
|
e)
|
Date of the transaction
|
11-07-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Iain Evans
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Global Head of
Distribution
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Sale of shares of the Company on
vesting of one third of the 2019 LTIP Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
600.00p
|
31,728
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
12-07-2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Nicholas Farren
|
|
2
|
Reason for the 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
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Acquisition of an interest in the
shares of the Company on vesting of one third of the 2019
conditional award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
3,334
|
|
|
|
|
|
e)
|
Date of the transaction
|
11-07-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Nicholas Farren
|
|
2
|
Reason for the 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
|
Polar Capital Holdings plc
|
|
b)
|
LEI
|
549300OXX7YE1947B825
|
|
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
|
Ordinary Shares of 2.5p
each
|
|
|
|
|
Identification code
|
GB00B1GCLT25
|
|
|
|
|
b)
|
Nature of the transaction
|
Sale of shares of the Company on
vesting of one third of the 2019 LTIP Award
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
600.00p
|
1,820
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
Single transaction as in 4 c)
above
|
|
|
|
|
e)
|
Date of the transaction
|
12-07-2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|
Enquiries:
Polar
Capital +44
(0)20 7227 2700
Gavin Rochussen (Chief
Executive)
Samir Ayub (Finance
Director)
Numis
Securities Limited - Nomad and Joint Broker
+44 (0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Stephen Westgate
Peel
Hunt LLP - Joint
Broker
+44 (0)20 3597 8680
Andrew Buchanan
Camarco
+44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh