Direct Line Insurance Group PLC

Director's Dealing • Sep 3, 2021

National Storage Mechanism | Additional information

RNS Number : 7384K

Direct Line Insurance Group PLC

03 September 2021

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

3 SEPTEMBER 2021

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

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

Neil Manser

2

Reason for the notification

a)

Position/status

Chief Financial 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(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	34,487
(iii) £3.099	16,250

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) The London Stock Exchange (XLON).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jessie Burrows

2

Reason for the notification

a)

Position/status

Managing Director Sales, Service and Claims / 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	33,210
(iii) £3.099	15,692
(iv) £3.099	17,518

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) The London Stock Exchange (XLON).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Evans

2

Reason for the notification

a)

Position/status

Managing Director of Marketing & Digital / 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	34,680
(iii) £3.099	16,386
(iv) £3.099	18,294

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) The London Stock Exchange (XLON).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jasvinder Gakhal

2

Reason for the notification

a)

Position/status

Managing Director, Motor / 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(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	28,101
(iii) £3.099	13,241

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii) 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	75,617
(iii) £3.099	35,729
(iv) £3.099	39,888

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	95,256
(iii) £3.099	45,008
(iv) £3.099	50,248

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) The London Stock Exchange (XLON).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kate Syred

2

Reason for the notification

a)

Position/status

Managing Director of Household & Partnerships / 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	35,767
(iii) £3.099	16,900
(iv) £3.099	18,867

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	44,873
(iii) £3.099	21,202
(iv) £3.099	23,671

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) 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 in August 2018 as nil cost options under DLG Long Term Incentive Plan (the "LTIP")) at a rate of 68%. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP;

(ii)        Acquisition of vested Shares;

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

(iv)       Sale of Shares from remaining balance.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	81,194
(iii)  £3.099	38,364
(iii)  £3.099	42,830

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 31 August 2021

(ii)&(iii)&(iv) 1 September 2021

f)

Place of the transaction

(i)&(ii) Off market.

(iii)&(iv) The London Stock Exchange (XLON).

For any enquiries relating to this announcement, please contact: 

Roger Clifton

Company Secretary

Email: Roger.Clifton@directlinegroup.co.uk

LEI: 213800FF2R23ALJQOP04

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