Serco Group PLC

Director's Dealing • Nov 5, 2018

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RNS Number : 3975G

Serco Group PLC

05 November 2018

5 November 2018

Serco Group plc (the 'Company')

Legal Entity Identifier: 549300PT2CIHYN5GWJ21

INITIAL NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2 PENCE EACH IN THE COMPANY ('ORDINARY SHARES')

The Company confirms that awards granted on 31 October 2014 to Angus Cockburn in the form of Nominal Cost Options under the 2009 Serco Performance Share Plan (the 'Performance Award') and in connection with his appointment to the Company (the 'Recruitment Award') (together, 'the Awards') lapsed in full on 31 October 2018. 

The performance measures applied to the Awards are set out below. The performance period for the Awards commenced on 1 January 2014.

Performance Award:

Proportion of the Award	Measure	Outcome	Overall outcome
1/3rd	Absolute Share Price - the Company's average share price in the 30 days following the announcement of the 2017 results was below the minimum required for vesting.	Lapsed in full	0%
	Total proportion of the Performance Award lapsed to date Still to vest		83.33% 16.67%

Recruitment Award:

Proportion of the Award	Measure	Outcome	Overall outcome
40%	Absolute Share Price - the Company's average share price in the 30 days following the announcement of the 2017 results was below the minimum required for vesting.	Lapsed in full	0%
	Total proportion of the Recruitment Award vested to date Total proportion of the Recruitment Award lapsed to date Still to vest		20% 80% 0%

All tranches of the 2014 Recruitment Award have now vested or lapsed.

The closing price of an Ordinary Share of Serco Group plc at the point of vesting on 31 October 2018 was £0.9610.

The notifications that follow are made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Angus Cockburn
2	Reason for the notification
a)	Position/status	Group 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	Serco Group plc
b)	LEI	549300PT2CIHYN5GWJ21
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	Ordinary shares of 2 pence each ('Ordinary Shares') ISIN: GB0007973794
Identification code
b)	Nature of the transaction	The lapse of Nominal Cost Options over Ordinary Shares granted in 2014 under the Company's 2009 Performance Share Plan.
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		n/a	112,714
		n/a	121,747
d)	Aggregated information
- Aggregated volume	234,461
- Price	n/a
e)	Date of the transaction	31 October 2018
f)	Place of the transaction	n/a

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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