MCG.L

Mobico Group PLC
Mobico Group PLC - Director/PDMR Shareholding
21st June 2024, 09:09
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RNS Number : 4086T
Mobico Group PLC
21 June 2024
 

 

MOBICO GROUP PLC

 ("Company")

 

Director/PDMR Share Dealing

 

The Company provides notification of the following transaction, effected on 20 June 2024, relating to the below named Person Discharging Managerial Responsibilities ("PDMRs") and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transaction arises in respect of the grant under the rules of the Company's Long-Term Incentive Plan ("LTIP") to Ignacio Garat of three-year performance-conditioned nil-cost options over Shares (the "2024 LTIP Award") in accordance with the Directors Remuneration Policy.  

 

At the time of grant, the Company's share price (according to the middle market quotation of the Company's share price on the last dealing day prior to the date of grant of the awards) was 47.16p.  Accordingly, the Remuneration Committee has determined to scale back awards such that a reduction of 30% has been applied to the 2024 LTIP Award.  The numbers shown below in relation to the 2024 LTIP Award are post that reduction.

 

The Remuneration Committee retains discretion to adjust the outcome of the vesting of the 2024 LTIP Award having regard to all relevant circumstances, including the Company's performance and the Company's shareholders' experience, over the three-year performance period and further to adjust the vesting of the Award downwards if that vesting would otherwise result in a windfall gain.

 

Individual PDMR and transaction details are set out in the table below:

 

Name and position of PDMR

Number of Shares over which the 2024 LTIP Award was granted1

Unrestricted beneficial interest held in Shares following the transactions2

 

Total other interest held in Shares following the transactions3

 

Ignacio Garat, Group Chief Executive Officer

 

 

1,781,170 

 

 

274,659

 

2,974,4334

¹ The conversion of the 2024 LTIP Award value into the number of Shares over which it was granted is described above. The 2024 LTIP Award is shown over the maximum number of Shares which can vest.

² Including those held by connected persons.

³ Represents outstanding awards granted under the Company's Executive Deferred Bonus Plan and the Company's Long-Term Incentive Plan.

4 Mr Garat was also granted an approved CSOP award alongside his 2024 LTIP Award in line with HMRC permitted limits, which can be exercised by way of effective set-off against any shares vesting under the corresponding 2024 LTIP Award. Due to this effective set-off arrangement, his interests in Shares under such approved CSOP award is not included in the table above as this would result in a double-count.

 

 

1.        

Details of PDMR / PCA


Full Name

Ignacio Garat


Position / status

Group Chief Executive Officer, PDMR


Initial notification / amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

 

 

 

 

Name

Mobico Group PLC

LEI

213800A8IQEMY8PA5X34

3.

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


Description of the financial instrument

 

Ordinary shares of 5p each

 

 

 

 


Identification code

GB0006215205

 


Nature of the transaction

(i)Award of option over shares under the Mobico Group PLC's Long-Term Incentive Plan


Price(s) and volume(s)


Price(s)

Volume(s)

Total

(i)

£ n/a

1,781,170

0.00


Date of the transaction

20 June 2024


Place of the transaction

n/a

 

 

 

This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014 as incorporated into domestic law by the European Union (Withdrawal) Act 2018.

 

-       END -

 

Mobico contact and telephone number for enquiries:

 

Simon Callander, Group General Counsel & Company Secretary

+44 (0) 7795 232 708

 

Gillian Saunderson, Deputy Company Secretary

+44 (0) 7471 142 961

 

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

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