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On 8 May 2024, Reach plc granted nil-cost options over ordinary 10p shares to two Persons Discharging Managerial Responsibilities (PDMRs) under its Long Term Incentive Plan. Chief Executive Officer Jim Mullen received options for 1,311,004 shares, and Chief Financial Officer Darren Fisher received options for 801,980 shares, with the number of shares calculated based on a three-month average share price of £0.707 per share.
| Date | 9 May 2024 |
| Time | 11:00:00 |
| Category | Director/PDMR dealings |
| ID | 7873N |
9 May 2024
Reach plc (the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Grant of 2024 Awards under the Reach Long Term Incentive Plan ("LTIP")
On 8 May 2024, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors and PDMRs under the LTIP and the following additional terms.
The number of shares under the LTIP options has been calculated using the three-month average share price to the date of grant of £0.707 per share.
Vesting of the LTIP options granted in 2024 are subject to the achievement of performance conditions over a three-year period, as set out on page 126 in the Company's 2023 Annual Report.
Vested LTIP options held by a Director will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability).
The notifications below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
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1
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Details of the person discharging managerial responsibilities / person closely associated |
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a)
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Name
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Jim Mullen |
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a)
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Name
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Reach plc |
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b)
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LEI
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213800GNI5XF3XOATR61 |
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary 10p Shares |
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Identification code |
GB0009039941 |
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b)
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Nature of the transaction
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Grant of nil-cost share options under the Reach Long Term Incentive Plan |
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c) |
Price(s) and volume(s)
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d)
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Aggregated information |
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- Aggregated volume |
N/A - single transaction |
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- Price |
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e)
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Date of the transaction
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2024-05-08 |
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f)
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Place of the transaction
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Outside a trading venue |
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1
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Details of the person discharging managerial responsibilities / person closely associated |
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a)
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Name |
Darren Fisher |
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Reach plc |
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b)
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LEI
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213800GNI5XF3XOATR61 |
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary 10p Shares |
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Identification code |
GB0009039941 |
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b)
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Nature of the transaction
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Grant of nil-cost share options under the Reach Long Term Incentive Plan
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c) |
Price(s) and volume(s)
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d)
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Aggregated information |
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- Aggregated volume |
N/A - single transaction |
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- Price |
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e)
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Date of the transaction
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2024-05-08 |
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f)
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Place of the transaction
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Outside a trading venue |
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Reach |
020 7293 3000 |
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Laura Harris, Group Company Secretary |
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Teneo |
020 7353 4200 |
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David Allchurch / Giles Kernick |
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LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
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