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St. Modwen Properties Plc
St. Modwen Props - Director/PDMR Shareholding
6th August 2021, 08:30
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RNS Number : 8503H
St. Modwen Properties PLC
06 August 2021
 

Date of issue: 6 August 2021

LEI: 213800WMV4WVES8TQH05

 

St. Modwen Properties PLC

Notification and public disclosure of transactions by person discharging managerial responsibilities

 

St. Modwen Properties PLC (the "Company") announces that, on 4 August 2021, Sarwjit Sambhi, an executive director of the Company, exercised 81,353 nil cost options ("Options") over the Company's ordinary shares of £0.10 each ("Shares") under the St. Modwen Properties PLC 2017 Performance Share Plan ("PSP").  The Options vested in accordance with the terms of the PSP at 89.76% with time pro-rating applied at one-third upon the sanction by the High Court of Justice in England and Wales of the scheme of arrangement in connection with the recommended cash acquisition of the Company by Brighton Bidco Limited on 4 August 2021.

The number of Shares retained represents the vested Shares allocated to Sarwjit Sambhi following deductions for income tax and national insurance contributions due on exercise of the Options.

Number of Options exercised

Number of Shares sold to cover income tax and national insurance due on exercise

Number of Shares retained

81,353

38,305

43,048

 

The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Sarwjit Sambhi

2.

Reason for the notification

a)

Position / status

PDMR - Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3.

Details of issuer

a)

Name

St. Modwen Properties PLC

b)

LEI

213800WMV4WVES8TQH05

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

 

Identification Code

Nil cost options over ordinary shares of £0.10 each in St. Modwen Properties PLC

 

GB0007291015

b)

Nature of the transaction

Exercise of 81,353 nil cost options granted under the St. Modwen Properties PLC 2017 Performance Share Plan award on 26 April 2021.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil cost

81,353

 

d)

Aggregated information

-    Aggregated volume

 

-    Aggregated price

N/A

 

e)

Date of the transaction

2021-08-04

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Sarwjit Sambhi

2.

Reason for the notification

a)

Position / status

PDMR - Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3.

Details of issuer

a)

Name

St. Modwen Properties PLC

b)

LEI

213800WMV4WVES8TQH05

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

 

Identification Code

Ordinary shares of £0.10 each in St. Modwen Properties PLC

 

GB0007291015

b)

Nature of the transaction

Disposal of 38,305 shares following exercise of nil cost options under the St. Modwen Properties PLC 2017 Performance Share Plan award granted on 26 April 2021 to cover tax liability arising on exercise.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

£5.59 per share

38,305

 

d)

Aggregated information

-    Aggregated volume

 

-    Aggregated price

N/A

 

e)

Date of the transaction

2021-08-04

f)

Place of the transaction

Outside a trading venue

 

For further information, please contact:

St. Modwen Properties PLC

www.stmodwen.co.uk

Tom Gough, Head of Corporate Affairs

0121 222 9400

 

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