Studio Retail Group PLC Director/PDMR Shareholding (7642L)
14 Septembre 2021 - 5:24PM
UK Regulatory
TIDMSTU
RNS Number : 7642L
Studio Retail Group PLC
14 September 2021
14 September 2021
Studio Retail Group plc (the "Group")
Director/PDMR Share Dealings
Studio Retail Group plc, the digital value retail business,
announces that awards which previously vested pursuant to the
Studio Retail Group plc Performance Share Plan 2016 ("PSP") have
been exercised by Paul Kendrick (CEO), Stuart Caldwell (CFO), and
Mark Ashcroft (Company Secretary), each being a Person Discharging
Managerial Responsibilities.
Following the exercise of these awards, each of the executives
disposed of a number of shares in order to satisfy (in part, in the
case of the CEO and CFO), their respective liabilities to income
tax and employee's national insurance contributions arising on the
exercise of the option ("Tax Liabilities").
In the CEO and CFO's cases, part of the Tax Liabilities was also
satisfied in cash by the application of 25% of their after-tax FY
21 bonus. This reduced the number of exercised shares under the PSP
award required to be sold in order to cover the Tax Liabilities, by
16,626 shares in the case of the CEO and by 12,317 shares in the
case of the CFO. These additional retained shares will be required
to be retained for a period of three years from the date of payment
of the FY21 bonus in accordance with Studio's bonus deferral
requirements. The balance of exercised shares retained by each of
them must be held for a period of two years from the vesting date
of the PSP awards in accordance with the post-vesting holding
period applicable to the PSP.
The Company Secretary sold a sufficient number of shares to meet
his liability to income tax and employee's national insurance
arising on the exercise of the option. He is required to retain the
balance of the exercised shares for a period of two years from the
vesting date of the PSP award in accordance with the post-vesting
holding period applicable to the PSP.
The notifications below, made in accordance with the
requirements of the UK Market Abuse Regulation, provide further
detail.
Enquiries
Studio Retail Group plc
Ian Burke 0161 303 3465
Tulchan Communications LLP
Sunni Chauhan
020 7353 4200
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Kendrick
----------------------------- ------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status CEO
----------------------------- ------------------------------------------------
b) Initial notification Initial
/Amendment
----------------------------- ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Studio Retail Group plc
----------------------------- ------------------------------------------------
b) LEI 2138006V9ZT2KO6PZY81
----------------------------- ------------------------------------------------
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 Ordinary shares of 10 pence each
instrument, type of
instrument
GB00B8B4R053
Identification code
----------------------------- ------------------------------------------------
b) Nature of the transaction (i) Exercise of share option issued
pursuant to the Studio Retail Group
plc Performance Share Plan 2016
(ii) Sale of shares
----------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- --------------------- ---------------------
(i) Nil-cost option (i) 58,522 Shares
exercise
(ii) 265 pence per (ii) 10,931 Shares
share
----------------------------- --------------------- ---------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- ------------------------------------------------
e) Date of the transaction 10 September 2021
----------------------------- ------------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
----------------------------- ------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stuart Caldwell
----------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status CFO
----------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment
----------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Studio Retail Group plc
----------------------------- ----------------------------------------------
b) LEI 2138006V9ZT2KO6PZY81
----------------------------- ----------------------------------------------
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 Ordinary shares of 10 pence each
instrument, type of
instrument
GB00B8B4R053
Identification code
----------------------------- ----------------------------------------------
b) Nature of the transaction (i) Exercise of share option issued
pursuant to the Studio Retail Group
plc Performance Share Plan 2016
(ii) Sale of shares
----------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- -------------------- --------------------
(i) Nil-cost option (i) 63,959 Shares
exercise
(ii) 265 pence per (ii) 17,828 Shares
share
----------------------------- -------------------- --------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- ----------------------------------------------
e) Date of the transaction 10 September 2021
----------------------------- ----------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
----------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Ashcroft
----------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status PDMR
----------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment
----------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Studio Retail Group plc
----------------------------- ----------------------------------------------
b) LEI 2138006V9ZT2KO6PZY81
----------------------------- ----------------------------------------------
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 Ordinary shares of 10 pence each
instrument, type of
instrument
GB00B8B4R053
Identification code
----------------------------- ----------------------------------------------
b) Nature of the transaction (i) Exercise of share option issued
pursuant to the Studio Retail Group
plc Performance Share Plan 2016
(ii) Sale of shares
----------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- -------------------- --------------------
(i) Nil-cost option (i) 38,376 Shares
exercise
(ii) 265 pence per (ii) 18,123 Shares
share
----------------------------- -------------------- --------------------
d) Aggregated information
* Aggregated volume N/A
* Price
----------------------------- ----------------------------------------------
e) Date of the transaction 10 September 2021
----------------------------- ----------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
----------------------------- ----------------------------------------------
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