Direct Line Insurance Group PLC

Director's Dealing • Apr 3, 2019

National Storage Mechanism | Additional information

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RNS Number : 0231V

Direct Line Insurance Group PLC

03 April 2019

DIRECT LINE INSURANCE GROUP PLC ("DLG")

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

3 APRIL 2019

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

All Executive Directors and other PDMRs meet their DLG Share Ownership Guidelines holding requirement immediately after the transactions in this announcement.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Penny James

2

Reason for the notification

a)

Position/status

​​​​​​​​Chief Financial Officer and CEO-designate / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Buy-out award. The award vested at 97.335% after the application of performance criteria.  The number of Shares vesting includes additional dividend shares in accordance with the rules of the buyout award.

(ii)         Acquisition of vested Shares; and

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	705,872
(iii) £3.54155	332,593

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) & (ii) & (iii) 1 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Geddes

2

Reason for the notification

a)

Position/status

Chief Executive Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	292,672
(iii) £3.6002	137,555
(iv) £3.6002	155,117

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii) 1 April 2019

(iii) & (iv) 2 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Geddes

2

Reason for the notification

a)

Position/status

Chief Executive Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Sale of Shares

c)

Price(s) and volume(s)

Price (s)	Volume (s)
£3.53	239,883

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

1 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Holliday-Williams

2

Reason for the notification

a)

Position/status

Managing Director, Personal Lines / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	162,519
(iii) 3.6002	76,383
(iv) 3.6002	86,136

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii) 1 April 2019

(iii) & (iv) 2 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Holliday-Williams

2

Reason for the notification

a)

Position/status

Managing Director, Personal Lines / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Sale of Shares

c)

Price(s) and volume(s)

Price (s)	Volume (s)
£3.54504	22,000

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

1 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Greenwood

2

Reason for the notification

a)

Position/status

Managing Director, Commercial / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	90,194
(iii) £3.54155	42,391
(iv) £3.54155	47,803

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii), (iii) & (iv) 1 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Linares

2

Reason for the notification

a)

Position/status

​​​​​​​​​​​​​​​Human Resources Director/ PDMR

b)

Initial notification /Amendment

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares; and

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Sale of Shares

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	111,411
(iii) £3.54155	52,498

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii) & (iii) 1 April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steve Maddock

2

Reason for the notification

a)

Position/status

Chief Operating Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	126,925
(iii) £3.54155	59,654
(iv) £3.54155	67,271

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii) & (iii) & (iv) 1April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Humphrey Tomlinson

2

Reason for the notification

a)

Position/status

General Counsel / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	60,359
(iii) £3.54155	28,368
(iv) £3.54155	31,991

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii), (iii) & (iv) 1April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jose Vazquez

2

Reason for the notification

a)

Position/status

Chief Risk Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	114,088
(iii) £3.54155	53,621
(iv) £3.54155	60,467

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 29 March 2019

(ii) & (iii) & (iv) 1April 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Holliday-Williams

2

Reason for the notification

a)

Position/status

Managing Director, Personal Lines / PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

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

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Transfer of Shares to Spouse (Kirstie Holliday-Williams)

c)

Price(s) and volume(s)

Price (s)	Volume (s)
Nil	190,790

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

2 April 2019

f)

Place of the transaction

London

For any enquiries relating to this announcement, please contact: 

Simon Watson

Deputy Company Secretary

Telephone: 01651 831911

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