Direct Line Insurance Group PLC

Director's Dealing • Apr 2, 2020

National Storage Mechanism | Additional information

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RNS Number : 5941I

Direct Line Insurance Group PLC

02 April 2020

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

2 APRIL 2020

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

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 March 2017 (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 70.76% 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.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	61,394
(iii) £2.83	28,933

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) 30 March 2020

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 March 2017 (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 70.76% 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	112,818
(iii) £2.83	53,024
(iv) £2.83	59,794

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii), (iii) & (iv) 30 March 2020

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

Simon Linares

2

Reason for the notification

a)

Position/status

​Human Resources Director/ 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 2017 (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 70.76% 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.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	110,035
(iii) £2.83	51,851

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) 30 March 2020

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

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 2017 (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 70.76% 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 Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	153,946
(iii) £2.83	72,355
(iv) £2.83	80,091

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) & (iv) 30 March 2020

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

Neil Manser

2

Reason for the notification

a)

Position/status

Chief Strategy 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 2017 (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 70.76% 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.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	49,152
(iii) £2.83	23,164

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) 30 March 2020

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

Gus Park

2

Reason for the notification

a)

Position/status

Managing Director of Motor, Pricing & Underwriting / 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 2017 (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 70.76% 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.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	69,470
(iii) £2.83	32,738

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) 30 March 2020

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

Kate Syred

2

Reason for the notification

a)

Position/status

Managing Director of Households, Partnerships & Data / 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 2017 (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 70.76% 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.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii)  Nil	55,858
(iii) £2.83	26,323

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) 30 March 2020

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

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 2017 (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 70.76% 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 Shares.   

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	62,893
(iii) £2.83	29,560
(iv) £2.83	30,333

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii), (iii) & (iv) 30 March 2020

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 March 2017 (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 70.76% 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 Shares.

c)

Price(s) and volume(s)

Price (s)	Volume (s)
(i) & (ii) Nil	145,563
(iii) £2.83	68,415
(iv) £2.83	73,148

d)

Aggregated information

- Aggregated volume

- Price

Not applicable

e)

Date of the transaction

(i) 27 March 2020

(ii) & (iii) & (iv) 30 March 2020

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

Telephone: +44 (0)1651 831 956

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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