AI assistant
SEVERFIELD PLC Director's Dealing 2023
4741_dirs_2023-10-09_11bec18b-8ceb-405b-a37b-b89410749a2d.html
Director's Dealing
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information 
RNS Number : 4550P
Severfield PLC
09 October 2023
9th October 2023
Severfield plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
The following notification relates to the vesting and exercise of nil cost share options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2019 and 5th October 2020. These options vested on 28th June 2022 and 5th October 2023 respectively and were exercised and settled as set out below.
In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment. This only applied to directors who already satisfy the Company's shareholding requirement. In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.
2019 DSBP
| Name | Number of shares awarded on 28th June 2019 | Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
| Alan Dunsmore | 50,724 | 57,884 | £16,595 | n/a | 30,678 |
2020 DSBP
| Name | Number of shares awarded on 5 October 2020 | Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
| Alan Dunsmore | 194,314 | 222,158 | £63,693 | £71,823 | 0 |
| Derek Randall | 164,474 | 188,042 | £30,425 | £84,280 | 0 |
| Adam Semple | 127,410 | 145,667 | £41,763 | n/a | 77,203 |
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Alan Dunsmore
2
Reason for the notification
a)
Position/status
CEO
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severfield plc
b)
LEI
21380025AWPR781CY104
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 2.5p |
| GB00B27YGJ97 |
b)
Nature of the transaction
1. Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.
2. Exercise of DSBP award and settlement of that exercise with a cash payment.
c)
Price(s) and volume(s)
| 1. | Price | Volume | Total |
| Share settlement | £0.00 | 30,678 | £0 |
| Cash settlement | £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) | 27,206 | £16,595 |
2. Price
Volume
Total
£0.61(price per share paid to settle the exercise of the DSBP award)
222,158
£135,516
d)
Aggregated information
| - | Aggregated volume |
| - | Price |
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Derek Randall
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severfield plc
b)
LEI
21380025AWPR781CY104
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 2.5p |
| GB00B27YGJ97 |
b)
Nature of the transaction
Exercise of DSBP award and settlement of that exercise with a cash payment.
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £0.61 (price per share paid to settle the exercise of the DSBP award) | 188,042 | £114,705 |
d)
Aggregated information
| - | Aggregated volume |
| - | Price |
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Adam Semple
2
Reason for the notification
a)
Position/status
CFO
b)
Initial notification/Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severfield plc
b)
LEI
21380025AWPR781CY104
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 2.5p |
| GB00B27YGJ97 |
b)
Nature of the transaction
Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment.
c)
Price(s) and volume(s)
| Price | Volume | Total | |
| Share settlement | £0.00 | 77,203 | £0 |
| Cash settlement | £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) | 68,464 | £41,763 |
d)
Aggregated information
| - | Aggregated volume |
| - | Price |
Not applicable-single transaction
e)
Date of the transaction
2023-10-05
f)
Place of the transaction
Outside a trading venue
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 [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHBXBDGXSGDGXC