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Kingfisher PLC
Director's Dealing • Jun 28, 2022
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 4715Q
Kingfisher PLC
28 June 2022
KINGFISHER PLC
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility ('PDMRs')
Kingfisher plc (the 'Company') announces that, on 24 June 2022, awards were granted to PDMRs to acquire ordinary shares of 15 5/7 pence each in the Company (the 'Shares') under the Kingfisher Performance Share Plan (the 'KPSP') and the PSP French Free Share Sub Plan (the 'PSP French Sub Plan').
The price per share used to calculate the number of Shares over which the awards have been granted is 241.03 pence (being the average of the closing price of the Shares on the main market of the London Stock Exchange between 21 June 2022 and 23 June 2022), in accordance with the rules of the KPSP.
These awards were made in accordance with the Directors' Remuneration Policy and Kingfisher Performance Share Plan Rules approved by shareholders at the Company's Annual General Meeting on 22 June 2022. Following these grants, Thierry and Bernard hold the following interests in the Company's issued share capital:
| Name | Position | Total number of Shares over which nil-cost options held1 | Total number of Shares |
| Thierry Garnier | Chief Executive Officer | 4,793,814 | 100,000 |
| Bernard Bot | Chief Financial Officer | 2,751,353 | 80,000 |
1 Dividend equivalents are payable in respect of the shares that vest.
The notifications for each PDMR below, which were made in accordance with the requirements of the UK Market Abuse Regulations, provide further detail of the awards granted to each PDMR.
Enquiries:
Chloe Barry
Group Company Secretary
Tel: +44(0) 7768 806248
Email: [email protected]
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Thierry Garnier | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Executive Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 958,944 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 958,944 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Bernard Bot | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Financial Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 640,309 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 640,309 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Adela Smeu | |
| 2 | Reason for the notification | ||
| a) | Position/status: | CEO Romania | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 165,360 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 165,360 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Elizabeth Messud | |
| 2 | Reason for the notification | ||
| a) | Position/status: | General Counsel | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 248,305 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 248,305 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Graham Bell | |
| 2 | Reason for the notification | ||
| a) | Position/status: | CEO B&Q UK and Ireland | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 365,924 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 365,924 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Henri Solère | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Offer and Sourcing Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 303,630 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 303,630 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Jean-Jacques Van Oosten | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Digital and Technology Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Appendix B. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 485,285 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 485,285 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
John Mewett | |
| 2 | Reason for the notification | ||
| a) | Position/status: | CEO Screwfix | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 339,787 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 339,787 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Kate Seljeflot | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief People Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 306,679 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 306,679 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Sebastien Krysiak | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Commercial Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Award of nil-cost options to acquire shares under the KPSP subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 304,937 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 304,937 - Nil |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Alain Rabec | |
| 2 | Reason for the notification | ||
| a) | Position/status: | CEO France | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Conditional Award to acquire shares under the PSP French Sub Plan subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| N/A | 341,776 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 341,776 - N/A |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) |
Natural person: Legal person |
Pascal Gil | |
| 2 | Reason for the notification | ||
| a) | Position/status: | CEO Castorama Poland | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Kingfisher plc | |
| b) | Legal Entity Identifier: | 213800KBMEV7I92FY281 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Kingfisher Ordinary Shares of 15 5/7 pence each (ISIN: GB0033195214) |
|
| b) | Nature of the transaction | Conditional Award to acquire shares under the PSP French Sub Plan subject to the conditions set out in Note 1. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| N/A | 254,554 | ||
| d) | Aggregated information - Aggregated volume - Price |
- 254,554 - N/A |
|
| e) | Date of the transaction (YYYY - MM - DD) | 2022-06-24 | |
| f) | Place of the transaction | Outside a trading venue |
Note 1
The awards granted to the PDMRs on 24 June 2022 are subject to continued employment and the achievement of performance conditions which are measured over the performance period of 1 February 2022 to 31 January 2025. The vesting date is 3 years after the grant date.
The performance conditions which apply to these Awards are EPS, ROCE, Kingfisher's Total Shareholder Return relative to a comparator group ('Relative TSR') and a basket of ESG measures.
The targets and associated weightings attached to these conditions are as follows:
| Target | 2024/25 EPS (25% weighting) |
2024/25 ROCE (25% weighting) |
Relative TSR (25% weighting) |
Basket of ESG conditions (25% weighting) |
| Threshold (25% Vesting) |
36.5p | 12.85% | 50th percentile | See table below for detail |
| Stretch (100% Vesting) |
47.5p | 16.30% | 75th percentile |
| Target | Climate change Reduction in Scope 1 and 2 emissions (8.33% weighting) |
Forest Positive % of wood and paper responsibly sourced as a % of SKUs purchased (8.33% weighting) | Gender Diversity % of women in senior leadership (8.33% weighting) |
| Threshold (25% Vesting) |
31.0% | 95.0% | 30% |
| Target (50% Vesting) |
34.0% | 98.0% | 33% |
| Stretch (100% Vesting) |
37.8% | 99.5% | 35% |
The definitions used for EPS and ROCE are as per our 2021/22 Annual Report.
The Comparator Group used for the relative TSR condition is the combined constituents of the FTSE 350 Retailers, FTSE 350 Drug and Grocery Stores as well as the STOXX 600 Drug and Grocery Stores, as of 1 February 2022.
For the basket of ESG conditions, the following definitions apply:
· Climate Change is the reduction in Scope 1 and Scope 2 carbon emissions in FY2024/25 from a FY2016/17 baseline.
· Forest Positive is the percentage of wood and paper responsibly sourced as a % of Stock Keeping Units ('SKUs') purchased in FY2024/25.
· Gender Diversity is the percentage of women in senior leadership roles at the end of FY2024/25 (on 31 January 2025).
For the EPS, ROCE and Relative TSR performance conditions, the award vests on a straight-line basis between threshold and stretch. For the ESG performance conditions, the award vests on a straight-line basis between threshold and target and between target and stretch. For all performance conditions, the award does not vest for performance below threshold for that performance condition. Each performance condition is measured independently.
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