RNS Number : 9133L
Sportech PLC
24 July 2017
 

24 July 2017

SPORTECH PLC ("the Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

Awards under the Sportech PLC Value Creation Plan

Following approval of the Sportech PLC Value Creation Plan (the "Plan") at the General Meeting on 24 May 2017 the Company has, on Friday 21 July, made awards under the Plan to the directors of the Company listed below along with other employees.

Under the terms of the Plan, participants have the right to receive a proportion of a pool of ordinary shares of 50 pence each in the Company ("Ordinary Shares") that in aggregate deliver a value equal to 20% of the value created for shareholders over the 5 year performance period ending 31 December 2021. The awards will vest for nil consideration and are subject to certain performance conditions, principally delivering a total shareholder return in excess of 8% p.a. compound growth above the starting share price of 95 pence. The awards will be settled in Ordinary Shares, however, the remuneration committee have the discretion to settle up to half of the awards in cash. In consideration for receiving the awards, Plan participants have agreed to give up any entitlement to awards made in March 2017 under the Sportech Performance Share Plan as detailed in the bottom table.

Full details of the Plan are available in the notice of General Meeting on the Company's website (http://www.sportechplc.com/investors/shareholder-information/meetings-and-voting).

The number of Ordinary Shares under award will be determined and vest at the end of the five year performance period, or earlier in the event of a change of control of the Company, and will be calculated at that time by reference to the director's percentage entitlement to the growth in value below.

Director

Position

Percentage entitlement of 20% pool

Percentage entitlement of growth in value

IAN PENROSE

CHIEF EXECUTIVE OFFICER

25%

5%

MICKEY KALIFA

CHIEF FINANCIAL OFFICER

12.5%

2.5%

ANDREW GAUGHAN

EXECUTIVE DIRECTOR

12.5%

2.5%

OTHER SENIOR MANAGEMENT


25%

5%

RESERVED FOR FUTURE ALLOCATIONS


25%

5%


Sportech PLC 2017 Performance Share Plan ("2017 PSP")

Director

Position

2017 PSP options withdrawn

IAN PENROSE

CHIEF EXECUTIVE OFFICER

419,552

MICKEY KALIFA

CHIEF FINANCIAL OFFICER

200,328

ANDREW GAUGHAN

EXECUTIVE DIRECTOR

191,387

 

For further information, please contact: 

Sportech PLC

Ian Penrose, Chief Executive

Mickey Kalifa, Chief Financial Officer

 

020 7268 2400

Brunswick Group LLP

Mike Smith

Stuart Donnelly 

 

020 7404 5959

sportech@brunswickgroup.com

Investec Bank PLC

Patrick Robb

Henry Reast 

 

020 7597 5970

Peel Hunt  LLP

Dan Webster 

020 7418 8900


Notification of Deal Forms of each PDMR can be found below.

1.

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

IAN PENROSE

2.

Reason for 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

SPORTECH PLC

b)

LEI

2138003BHYUQWAYGSK09

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 and identification code

Ordinary Shares of £0.50 each in the capital of SPORTECH PLC
ISIN: GB00B28ZPV64

b)

Nature of transaction

Award of shares under the SPORTECH PLC VALUE CREATION PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

Such number of shares as equals 5% of the growth in value above a 8% CAGR over 5 years to 31 December 2021

d)

Aggregated Information

n/a

e)

Date of transaction

21 JULY 2017

f)

Place of transaction

London Stock Exchange (XLON)

 

1.

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

MICKEY KALIFA

2.

Reason for 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

SPORTECH PLC

b)

LEI

2138003BHYUQWAYGSK09

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 and identification code

Ordinary Shares of £0.50 each in the capital of SPORTECH PLC
ISIN: GB00B28ZPV64

b)

Nature of transaction

Award of shares under the SPORTECH PLC VALUE CREATION PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

Such number of shares as equals 2.5% of the growth in value above a 8% CAGR over 5 years to 31 December 2021

d)

Aggregated Information

n/a

e)

Date of transaction

21 JULY 2017

f)

Place of transaction

London Stock Exchange (XLON)

 

1.

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

ANDREW GAUGHAN

2.

Reason for notification

a)

Position/Status

EXECUTIVE DIRECTOR

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

SPORTECH PLC

b)

LEI

2138003BHYUQWAYGSK09

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 and identification code

Ordinary Shares of £0.50 each in the capital of SPORTECH PLC
ISIN: GB00B28ZPV64

b)

Nature of transaction

Award of shares under the SPORTECH PLC VALUE CREATION PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

 

Such number of shares as equals 2.5% of the growth in value above a 8% CAGR over 5 years to 31 December 2021

d)

Aggregated Information

n/a

e)

Date of transaction

21 JULY 2017

f)

Place of transaction

London Stock Exchange (XLON)

 

 


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