Spire Healthcare Group PLC

Related Party Transaction • Mar 31, 2017

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RNS Number : 1619B

Spire Healthcare Group PLC

31 March 2017

31 March 2017

Spire Healthcare Group plc (the "Company")

Exercise of 2014 Long Term Incentive Plan award

On 30 March 2017, Simon Gordon, an Executive Director of the Company, exercised his vested Long Term Incentive Plan award (the "Award") over ordinary shares in the Company. The Award was originally granted in the form of nil-cost options on 30 September 2014.

Performance conditions

The performance period for the Award ended on 31 December 2016. The Award was based on targets linked to earnings per share (EPS) and relative total shareholder return (TSR) performance.

Half of the Award was based on TSR performance measured against the constituents of the FTSE 250 (excluding investment trusts). Threshold vesting (25% of the element) required median performance, with outperformance of the upper quartile required for full vesting. Over the period to 31 December 2016, the Company delivered a total shareholder return of +76%. This was well within the upper quartile of the comparator group, and therefore this element of the Award vested in full.

The remaining half of the award was based on EPS targets. The 2016 EPS was below the threshold of 20.6 pence, and therefore this element of the Award lapsed in full.

Exercise of Award

Simon Gordon sold sufficient shares to cover his Income Tax and NIC liabilities and then retained the balance of his Award.

Director	Type of award	Shares vested and exercised	Shares sold*	Shareholding following transaction
Simon Gordon	Conditional Share Award (in the form of nil-cost options)	124,113	58,539	537,332

*All shares sold were at an average share price of 327.5829 pence.

Enquiries:

Philip Davies

Deputy Company Secretary

020 7427 9092

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Gordon
2	Reason for the notification
a)	Position/status	Executive Director and Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Spire Healthcare Group plc
b)	LEI	n/a
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 1 pence each
b)	Nature of the transaction	Exercise of a nil-cost share option over 124,113 shares granted under the Company's Long Term Incentive Plan and subsequent sale of 58,539 shares to cover Income Tax and NIC liabilities.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
327.5829 pence	58,539
d)	Aggregated information - Aggregated volume - Price	As above
e)	Date of the transaction	2017-03-30
f)	Place of the transaction	XLON

This information is provided by RNS

The company news service from the London Stock Exchange

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