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Deferred Bonus Plan - Exercise and Sale
Pursuant to the grant of nil cost options announced on 31 January 2023 under the Deferred Bonus Plan award, for the deferral of 50% of the FY2022 annual bonus into shares, the Participants named below have subsequently exercised such awards and sold the number of ordinary shares noted in the table below to cover the tax and NI liability levied on the transaction and retained the net number of shares as a result of the exercise of their respective awards. Pursuant to the award, each Participant shall be subject to a dealing restriction over the net balance acquired for a period of two (2) years calculated from the Date of Grant (i.e. until 30 January 2025).
|
Name of Participant |
Grant Share Price (£) |
Form of Award |
Normal Vesting Date |
Number of Options Exercised |
Number of shares sold |
Sell Share Price (£) |
Net Number of Shares Acquired |
|
Jonathan Bunting |
0.5066 |
Nil-cost option |
30 January 2023 |
317,449 |
149,726 |
0.4900 |
167,723 |
|
Paul Baker |
0.5066 |
Nil-cost option |
30 January 2023 |
180,508 |
85,138 |
0.4900 |
95,370 |
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
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|
a)
|
Name
|
Jonathan Bunting |
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2
|
Reason for the notification
|
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|
a)
|
Position/status
|
Chief Executive Officer |
|||
|
b)
|
Initial notification /Amendment
|
Initial Notification |
|||
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
||||
|
a)
|
Name
|
Smiths News plc |
|||
|
b)
|
LEI
|
2138004033ONVOOQXB02 |
|||
|
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 5p shares |
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|
|
|
||||
|
Identification code |
ISIN: GB00B17WCR61 |
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|
|
|
||||
|
b)
|
Nature of the transaction
|
Exercise of 317,449 Deferred Bonus Plan (2022) shares. |
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|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil consideration |
317,449 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
n/a single transaction |
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|
|
|
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|
- Aggregated volume |
|
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|
|
|
||||
|
- Price |
|
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|
|
||||
|
e)
|
Date of the transaction
|
9 February 2023 |
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|
f)
|
Place of the transaction
|
London Stock Exchange, Main Market |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Jonathan Bunting |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
Chief Executive Officer |
|||
|
b)
|
Initial notification /Amendment
|
Initial Notification |
|||
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
||||
|
a)
|
Name
|
Smiths News plc |
|||
|
b)
|
LEI
|
2138004033ONVOOQXB02 |
|||
|
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 5p shares |
|||
|
|
|
||||
|
Identification code |
ISIN: GB00B17WCR61 |
||||
|
|
|
||||
|
b)
|
Nature of the transaction
|
Sale of 149,726 shares to cover the tax and NI liability arising following exercise of 317,449 Deferred Bonus Plan (2022) shares. |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
0.4900p |
149,726 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
n/a single transaction |
|||
|
|
|
||||
|
- Aggregated volume |
|
||||
|
|
|
||||
|
- Price |
|
||||
|
|
|
||||
|
e)
|
Date of the transaction
|
9 February 2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, Main Market |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Paul Baker |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
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
|
Smiths News plc |
|||
|
b)
|
LEI
|
2138004033ONVOOQXB02 |
|||
|
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 5p shares |
|||
|
|
|
||||
|
Identification code |
ISIN: GB00B17WCR61 |
||||
|
|
|
||||
|
b)
|
Nature of the transaction
|
Exercise of 180,508 Deferred Bonus Plan (2022) shares. |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
Nil consideration |
180,508 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
n/a single transaction |
|||
|
|
|
||||
|
- Aggregated volume |
|
||||
|
|
|
||||
|
- Price |
|
||||
|
|
|
||||
|
e)
|
Date of the transaction
|
9 February 2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, Main Market |
|||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||
|
a)
|
Name
|
Paul Baker |
|||
|
2
|
Reason for the notification
|
||||
|
a)
|
Position/status
|
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
|
Smiths News plc |
|||
|
b)
|
LEI
|
2138004033ONVOOQXB02 |
|||
|
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 5p shares |
|||
|
|
|
||||
|
Identification code |
ISIN: GB00B17WCR61 |
||||
|
|
|
||||
|
b)
|
Nature of the transaction
|
Sale of 85,138 shares to cover the tax and NI liability arising following exercise of 180,508 Deferred Bonus Plan (2022) shares. |
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
0.4900p |
85,138 |
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information |
n/a single transaction |
|||
|
|
|
||||
|
- Aggregated volume |
|
||||
|
|
|
||||
|
- Price |
|
||||
|
|
|
||||
|
e)
|
Date of the transaction
|
9 February 2023 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange, Main Market |
|||
Person responsible for arranging release of this announcement:
Karen Mills, Deputy Company Secretary
Smiths News plc
Rowan House
Cherry Orchard North
Kembrey Park
Swindon
SN2 8UH
email: [email protected]
LEI: 2138004O33ONVOOQXB02
On February 9, 2023, Smiths News plc directors Jonathan Bunting (CEO) and Paul Baker (CFO) exercised nil-cost options under the company's Deferred Bonus Plan. Bunting exercised 317,449 options and sold 149,726 shares at £0.4900, retaining 167,723 shares, while Baker exercised 180,508 options and sold 85,138 shares at £0.4900, retaining 95,370 shares. The shares sold by both directors were to cover tax and National Insurance liabilities.
| Date | 13 Feb 2023 |
| Time | 10:30:47 |
| Category | Director/PDMR dealings |
| ID | 7261P |