Chesnara PLC PDMR and Total Voting Rights (7861O)
21 Mai 2018 - 6:16PM
UK Regulatory
TIDMCSN
RNS Number : 7861O
Chesnara PLC
21 May 2018
CHESNARA plc
("Chesnara" or "the Company")
Notification of PDMR Dealing and Total Voting Rights
Chesnara plc (the 'Company') today announces that the following
PDMR has exercised options over ordinary shares as a result of the
vesting of the awards made on 28 May 2014 under the 2014 Chesnara
Long Term Incentive scheme ('LTI') and Short Term Incentive Scheme
("STI"). Of these, 29,168 shares were sold to cover liability to
tax and national insurance contributions arising on vesting, with
the balance being retained.
In conformity with 5.6.1 of the FCA Disclosure and Transparency
Rules (the "Rules"), the Company notifies the market that, as at
the date of this announcement, its issued capital comprised
149,885,761 ordinary 5p shares including 24,980 held in
treasury.
The total number of voting rights is therefore 149,860,781
(being the Company's issued share capital less the number of shares
held in treasury).
Shareholders should therefore use 149,860,781 as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in the Company under the Rules.
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- ----------------------------------------------------------------------
a) Name David Rimmington
--- --------------------- -----------------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------------
a) Position/status Chief Finance Officer
--- --------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
--- --------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- ----------------------------------------------------------------------
a) Name Chesnara plc
--- --------------------- -----------------------------------------------
b) LEI 213800VFRMBRTSZ3SJ06
--- --------------------- -----------------------------------------------
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 Chesnara plc Ordinary shares of 5 pence
of the financial each (Shares)
instrument, ID Code: (GB00B00FPT80)
type of instrument
and identification
code
--- --------------------- -----------------------------------------------
b) Nature of 1. Exercise of options over 38,635 shares
the transaction following vesting of the conditional
awards under the 2014 Long Term Incentive
scheme.
2. Exercise of options over 14,086 shares
following vesting of the conditional
awards under the 2014 Short Term Incentive
scheme.
3. 29,168 shares sold to cover tax and
social security obligations
--- --------------------- -----------------------------------------------
c) Price(s) and 1 & 2 Price(s): nil. Volume: 52,721.
volume(s) 3 Price): 392.6p. Volume: 29,168.
--- --------------------- -----------------------------------------------
d) Aggregated N/A
information
--- --------------------- -----------------------------------------------
e) Date of the 16 May 2018
transaction
--- --------------------- -----------------------------------------------
f) Place of the 1 & 2 - XOFF
transaction 3 - London Stock Exchange (XLON)
--- --------------------- -----------------------------------------------
The above notification is made in accordance with the
requirements of the EU Market Abuse Regulation.
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock
Exchange in May 2004, is the owner of Countrywide Assured plc ('CA
plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara
Holdings BV. Chesnara Holdings BV is the intermediate holding
company of 'Waard Group' and 'Scildon'.
CA plc is a UK life assurance subsidiary that is closed to new
business. In June 2005 Chesnara acquired a further closed life
insurance company - City of Westminster Assurance - for GBP47.8m.
With effect from 30 June 2006, CWA's policies and assets were
transferred into CA plc. Save & Prosper Insurance Limited and
its subsidiary, Save & Prosper Pensions Limited, were acquired
on 20 December 2010 for GBP63.5 million. With effect from 31
December 2011, the business of Save & Prosper was transferred
into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life
Insurance Company Limited (subsequently renamed Protection Life
Company Limited) from Direct Line Group plc for GBP39.3m. On 31
December 2014 the PL business transferred into CA plc. CA plc
operates an outsourced business model.
Movestic, a Swedish life assurance company which originally
focused on pensions and savings, was acquired on 23 July 2009 for
GBP20 million. The company is open to new business and seeks to
grow its position in the Swedish unit-linked market. Its
proposition was strengthened in February 2010 with the acquisition
of the operations of Aspis Försäkringar Liv AB which has a risk and
health product bias.
The Waard Group, a Netherlands-based Group comprising three
closed book insurance companies and a servicing company, was
acquired on 19 May 2015 for EUR69.9m. The Waard Group, comprising
Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V.
and Tadas Verzekeringen B.V. was previously owned by DSB Beheer
B.V., a Dutch financial services Group. The policy base of the
Waard Group is predominantly term life policies, with some unit
linked policies and some non-life policies. On 5 April 2017
Chesnara completed its acquisition of Legal & General Nederland
Levensverzeikering Maatschappij N.V. ('LGN') for EUR161.2 million.
The LGN business which has been renamed Scildon, is in the Dutch
life assurance market, and as with our Swedish subsidiary Movestic,
Scildon writes protection and pension new business.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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May 21, 2018 12:16 ET (16:16 GMT)
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