POLAR CAPITAL HOLDINGS PLC

Transaction in Own Shares • Jul 22, 2024

National Storage Mechanism | Additional information

RNS Number : 3498X

Polar Capital Holdings PLC

22 July 2024

22 July 2024

Polar Capital Holdings plc ("Polar Capital" or the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

Grant of 2024 Long Term Incentive Plan Awards (LTIP)

Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July 2024 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.

Director / PDMR	Position	No. of shares under Award
Gavin Rochussen	Chief Executive Officer	167,399
Samir Ayub	Chief Financial Officer	86,993
Alexander Black	Chief Investment Officer	95,693
Iain Evans	Global Head of Distribution	95,693
Nicholas Farren	Chief Operating Officer	83,530

The terms of the LTIP award provide for vesting on the third anniversary of grant, subject to continued employment and performance based on the following measures:

-      35% of each Award is subject to a performance condition requiring the Company's adjusted diluted total earnings per share to achieve a pre-set level for the financial year 2026/27 which is the end of three financial years commencing on 1 April 2024 (the 'Performance Period'). 

-      35% of each Award is subject to a performance condition relating to the performance of the Company's total shareholder return relative to the constituents of the FTSE 250 Index (excluding investment trusts) during the performance period.

-      10% of each Award is subject to a performance condition measured by reference to the cumulative net inflows to Polar Group funds from two key geographic locations during the performance period.

-     20% of each Award is subject to a performance condition measured by reference to strategic progress towards enhancing the investment proposition for the Company's investors during the performance period. This will comprise a combination of qualitative and quantitative assessment of progress made towards expanding the investment team and product offering in key geographic areas (10%) and towards the Group's people development and retention offering (10%).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Gavin Rochussen 

2

Reason for Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Polar Capital Holdings PLC

b)

LEI

549300OXX7YE1947B825

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 2.5 pence each in Polar Capital Holdings PLC

Identification code

GB00B1GCLT25

b)

Nature of the transaction

Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	167,399

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

16 July 2024

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Samir Ayub

2

Reason for Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Polar Capital Holdings PLC

b)

LEI

549300OXX7YE1947B825

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 2.5 pence each in Polar Capital Holdings PLC

Identification code

GB00B1GCLT25

b)

Nature of the transaction

Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	86,993

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

16 July 2024

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alexander Black

2

Reason for Notification

a)

Position/status

Chief Investment Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Polar Capital Holdings PLC

b)

LEI

549300OXX7YE1947B825

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 2.5 pence each in Polar Capital Holdings PLC

Identification code

GB00B1GCLT25

b)

Nature of the transaction

Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	95,693

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

16 July 2024

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Iain Evans

2

Reason for Notification

a)

Position/status

Global Head of Distribution

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Polar Capital Holdings PLC

b)

LEI

549300OXX7YE1947B825

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 2.5 pence each in Polar Capital Holdings PLC

Identification code

GB00B1GCLT25

b)

Nature of the transaction

Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	95,693

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

16 July 2024

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicholas Farren

2

Reason for Notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Polar Capital Holdings PLC

b)

LEI

549300OXX7YE1947B825

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 2.5 pence each in Polar Capital Holdings PLC

Identification code

GB00B1GCLT25

b)

Nature of the transaction

Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	83,530

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

16 July 2024

f)

Place of the transaction

Outside a trading venue

Enquiries:

Polar Capital                                                                          +44 (0)20 7227 2700

Gavin Rochussen (Chief Executive Officer) 

Samir Ayub ( Chief Financial Officer )

Deutsche Numis - Nomad and Joint Broker                     +44 (0)20 7260 1000

Giles Rolls (QE)

Charles Farquhar

Peel Hunt LLP - Joint Broker                                                +44 (0)20 3597 8680

Andrew Buchanan

Sam Milford

Camarco                                                                                 +44 (0)20 7757 4995

Ed Gascoigne-Pees

Jennifer Renwick

Phoebe Pugh              

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