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Just Group plc granted nil cost options for 855,564 ordinary shares to Group Chief Executive Officer David Richardson and 390,322 ordinary shares to Group Chief Financial Officer Mark Godson on 18 March 2026. These awards, with a £NIL price, are under the company's Long Term Incentive Plan, subject to three-year performance targets, and are set to vest on 18 March 2029, followed by a two-year holding period. The awards will lapse upon completion of the acquisition of Just Group plc by BWS Holdings Ltd and will be replaced by the Bidder's incentive arrangements.
| Date | 19 Mar 2026 |
| Time | 11:00:00 |
| Category | Director/PDMR dealings |
| ID | 3439X |
Just Group plc (the "Company")
Grant of Awards under the Just Group plc Long Term Incentive Plan (the "LTIP")
|
Name |
Date of Grant |
Performance Award Number of Shares |
Vesting Date |
|
David Richardson |
18 March 2026 |
855,564* |
18 March 2029 |
|
Mark Godson |
18 March 2026 |
390,322* |
18 March 2029 |
The above awards were granted as nil cost options which are subject to the achievement of the performance targets in the table below over the three-year performance period.
|
PERFORMANCE MEASURE/RATIONALE |
WEIGHTING |
THRESHOLD (25% VEST) |
MAXIMUM (100% VEST) |
|
Cash Generation |
15% |
£439m |
£514m |
Tangible Net Asset Value |
25% |
£3,1bn |
£3.7bn |
|
Return on Equity |
45% |
27% |
34.3% |
|
Diversity and inclusion: gender and multi-ethnicity mix in senior leadership |
15% (split equally) |
Gender 40% Ethnically Diverse 18% |
Gender 42% Ethnically Diverse 21% |
*The vested shares will be subject to a two-year holding period following the end of the performance period.
** These awards under the Long Term Incentive Plan have been granted on terms that they will lapse on completion of the acquisition of Just Group plc by BWS Holdings Ltd ("Bidder") and will be replaced by an award under the Bidder's incentive arrangements.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
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a)
|
Name
|
David Richardson
|
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|
2
|
Reason for the notification
|
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|
a)
|
Position/status
|
Group Chief Executive Officer
|
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|
b)
|
Initial notification /Amendment
|
Initial notification
|
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|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
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|
a)
|
Name
|
Just Group plc |
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|
b)
|
LEI
|
5493006456YEZEELRR90 |
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|
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 10 pence each |
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|
|
|
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|
Identification code |
GB00BCRX1J15 |
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|
|
|
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|
b)
|
Nature of the transaction
|
Receipt of an award as nil cost option under the Just Group plc Long Term Incentive Plan to vest on 18 March 2029 subject to the achievement of performance targets.
|
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|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
(i) |
£NIL |
855,564 |
|
|
|
|
|
|
|
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|
d)
|
Aggregated information |
|
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|
|
|
|||||
|
- Aggregated volume - Price |
-855,564
|
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|
|
|
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e)
|
Date of the transaction
|
18 March 2026 |
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|
f)
|
Place of the transaction
|
Outside a trading venue
|
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|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
|||||
|
a)
|
Name
|
Mark Godson
|
||||
|
2
|
Reason for the notification
|
|||||
|
a)
|
Position/status
|
Group Chief Financial Officer |
||||
|
b)
|
Initial notification /Amendment
|
Initial notification
|
||||
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a)
|
Name
|
Just Group plc |
||||
|
b)
|
LEI
|
5493006456YEZEELRR90 |
||||
|
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 10 pence each |
||||
|
|
|
|||||
|
Identification code |
GB00BCRX1J15 |
|||||
|
|
|
|||||
|
b)
|
Nature of the transaction
|
Receipt of an award as nil cost option under the Just Group plc Long Term Incentive Plan to vest on 18 March 2029 subject to the achievement of performance targets. |
||||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
(i) |
£NIL |
390,322 |
|
|
|
|
|
|
|
|
||
|
d)
|
Aggregated information |
|
||||
|
|
|
|||||
|
- Aggregated volume - Price |
-390,322
|
|||||
|
|
|
|||||
|
e)
|
Date of the transaction
|
18 March 2026 |
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|
f)
|
Place of the transaction
|
Outside a trading venue
|
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Contact
Simon Watson, Group Company Secretary, +44 (0)20 7444 8400