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Watches of Switzerland
Watches of Switzlnd. - Director/PDMR Shareholding
9th July 2024, 14:06
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RNS Number : 7349V
Watches of Switzerland Group PLC
09 July 2024
 

WATCHES OF SWITZERLAND GROUP PLC (the 'Company')

DIRECTOR/PDMR SHAREHOLDING

 

The Company announces that it has awarded on 8 July 2024 nil cost options to its Executive Directors under the Company's 2019 Long Term Incentive Plan (the 'Awards').

 

The Performance Target for the Awards consists of the following elements:

·    80% of the Awards will Vest depending on the Company's Cumulative EPS performance against targets (the "EPS Performance Award").

·    20% of the Awards will Vest depending on the Company's Average ROCE performance against targets (the "ROCE Performance Award"). 

The EPS Performance Awards will Vest as follows

 

Cumulative EPS

Percentage of Award Vesting

Less than 178.2 pence

Nil

178.2 pence

16%

Between 178.2 pence and 196.9 pence

Between 16% and 80% on a straight-line basis

196.9 pence or more

80%

 

The ROCE Performance Awards will Vest as follows

Average ROCE

Percentage of Award Vesting

Less than 22.7%

Nil

22.7%

4%

Between 22.7% and 25.1%

Between 4% and 20% on a straight-line basis

25.1% or more

20%

 

The Awards will vest in July 2027 after a performance measurement period of three financial years (FY 2025 to FY 2027) and there is a Holding Period of two years from the vesting date.

 

The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Brian Duffy a PDMR, in the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Brian Duffy

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Initial

3

 

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

 

a)

 

Name

Watches of Switzerland Group PLC

b)

 

LEI

2138008ZOT5K9PJW7168

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 £0.0125 each



Identification code

GB00BJDQQ870



b)

 

Nature of the transaction

 

 

An award of nil cost options, granted under the Company's 2019 Long Term incentive Plan.

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£nil

241,429







d)

 

Aggregated information




- Aggregated volume

241,429



- Price

£nil



e)

 

Date of the transaction

 

8 July 2024

f)

 

Place of the transaction

XLON

 

The following information is given in accordance with Article 19.3 of the Market Abuse Regulation and is made on behalf of Anders Romberg a PDMR, in the Watches of Switzerland Group PLC under article 19.1 of the Market Abuse Regulation ('MAR').

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Anders Romberg

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

b)

 

Initial notification /Amendment

 

Initial

3

 

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

 

a)

 

Name

Watches of Switzerland Group PLC

b)

 

LEI

2138008ZOT5K9PJW7168

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 £0.0125 each



Identification code

GB00BJDQQ870



b)

 

Nature of the transaction

 

 

An award of nil cost options, granted under the Company's 2019 Long Term incentive Plan.

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£nil

160,550







d)

 

Aggregated information




- Aggregated volume

160,550



- Price

£nil



e)

 

Date of the transaction

8 July 2024

f)

 

Place of the transaction

XLON

 

Enquiries:

Laura Battley                                                                                      Lucy Legh / Rob Walker / Joanna Clark 

Company Secretary and General Counsel                                     Headland

T: 0207 317 4600                                                                                T: 0203 805 4822

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