Director's Dealing • Apr 13, 2018
Director's Dealing
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RNS Number : 9428K
Provident Financial PLC
13 April 2018
Provident Financial plc ("the Company")
Director/PDMR Transaction - Initial Notification
Between 10 and 12 April 2018, the Company was notified, pursuant to the 17 for 24 Rights Issue of 104,998,904 New Ordinary Shares at 315 pence per New Ordinary Share ("Rights Issue"):
(1) of the transactions set out below in relation to the nil paid rights to New Ordinary Shares ("Nil Paid Rights") and resulting shareholdings by Robert Anderson, Greg Cant, Andrew Fisher, Chris Gillespie, Shamus Hodgson, David Merrett, Ken Mullen, Stuart Sinclair and Chris Sweeney, who are all directors/persons discharging managerial responsibility ("PDMRs") in the Company under the Provident Financial Share Incentive Plan ("SIP"), the Provident Financial Long Term Incentive Scheme 2015 ("LTIS") or otherwise; and
(2) that, under the rules of the Provident Financial Performance Share Plan ("PSP"), the Provident Financial Savings Related Share Option Scheme ("SAYE"), and the share award arrangement between the Company and Chris Sweeney, adjustments had been made to awards and options granted under those plans to participants to take account of the Rights Issue. The adjustments operate so as to increase the number of Ordinary Shares subject to awards and options by a factor of 1.36669790 and, in the case of options, to reduce the exercise price per share by a factor of 0.731690922. The adjustments to the awards and options held by PDMRs under each plan are set out below.
| Director/ PDMR | Beneficial holding of Ordinary Shares prior to the Dealing | % of issued share capital prior to the Dealing | Ordinary Shares acquired by Director / PDMR | Resultant Beneficial holding of Ordinary Shares after the Dealing | Resultant % of issued share capital after the Dealing |
| Robert Anderson | 4,178 unrestricted shares and 0 restricted shares | 0.002% | 2,959 unrestricted shares | 7,137 unrestricted shares and 0 restricted shares | 0.002% |
| Greg Cant | 1,812 unrestricted shares and 11,958 restricted shares | 0.001% 0.008% |
36 unrestricted shares and 626 restricted shares | 1,848 unrestricted shares and 12,584 restricted shares | 0.0007% 0.004% |
| Andrew Charles Fisher | 196,211 unrestricted shares and 112,673 restricted shares |
0.132% 0.076% |
97,148 unrestricted shares and 16,116 restricted shares | 293,359 unrestricted shares and 128,789 restricted shares |
0.115% 0.05% |
| Chris Gillespie | 14,475 unrestricted shares and 0 restricted shares | 0.009% | 10,253 unrestricted shares and 0 restricted shares | 24,728 unrestricted shares and 0 restricted shares | 0.009% |
| Shamus Hodgson | 6,040 unrestricted shares and 12,570 restricted shares | 0.004% 0.008% |
0 unrestricted shares and 939 restricted shares | 6,040 unrestricted shares and 13,509 restricted shares | 0.002% 0.005% |
| David Michael Merrett | 8,934 unrestricted shares and 10,892 restricted shares | 0.006% 0.007% |
7,318 unrestricted shares and 0 restricted shares | 16,252 unrestricted shares and 10,892 restricted shares | 0.006% 0.004% |
| Kenneth John Mullen | 14,173 unrestricted shares and 16,799 restricted shares | 0.009% 0.011% |
110 unrestricted shares and 615 restricted shares | 14,283 unrestricted shares and 17,414 restricted shares | 0.005% 0.006% |
| Stuart Sinclair | 29,417 unrestricted shares and 0 restricted shares | 0.019% | 20,907 unrestricted shares and 0 restricted shares | 50,324 unrestricted shares and 0 restricted shares | 0.019% |
| Chris Sweeney | 31,702 unrestricted shares and 74,598 restricted shares | 0.021% 0.050% |
82 unrestricted shares and 8,668 restricted shares | 31,784 unrestricted shares and 83,266 restricted shares | 0.012% 0.032% |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Robert Anderson
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the take up of Nil Paid Rights resulting in the acquisition of 2,959 Ordinary Shares.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| £3.15 | 2,959 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
2,959
£9,320.85
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Greg Cant
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the following transactions took place:
· the adjustment of matching share awards held under the PSP resulting in an increase of 626 Ordinary Shares under award; and
· the sale of 32 Nil Paid Rights to fund the take up of the remainder of Nil Paid Rights resulting in the acquisition of 36 Ordinary Shares by Yorkshire Building Society Trustees Provident Financial Group ("SIP Trustee") on behalf of the PDMR under the SIP.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| 0 | 626 |
| £3.7095 | 32 |
| £3.15 | 36 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
| Aggregated Price | Aggregated Volume |
| 0 | 626 |
| £118.704 | 32 |
| £113.40 | 36 |
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
Outside a trading venue
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrew Fisher
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the following transactions took place:
· the sale of 67,087 Nil Paid Rights to fund the take up of the remainder of Nil Paid Rights;
· sale of 23,264 Nil Paid Rights by SG Kleinwort Hambros Bank (CI) Limited ("EBT Trustee") on behalf of the PDMR arising from share awards held under the LTIS to fund the take up of the remainder of Nil Paid Rights;
· the acquisition of 96,965 Ordinary Shares as a result of the take up of Nil Paid Rights;
· the adjustment of matching share awards held under the PSP resulting in an increase of 16,116 Ordinary Shares under award; and
· the sale of 157 Nil Paid Rights to fund the take up the remainder of Nil Paid Rights resulting in the acquisition of 183 Ordinary Shares by the SIP Trustee on behalf of the PDMR under the SIP.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| £3.45 | 67,087 |
| £3.45 | 23,264 |
| £3.15 | 96,965 |
| 0 | 16,116 |
| £3.7095 | 157 |
| £3.15 | 183 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
| Aggregated price | Aggregated volume |
| £231,450.15 | 67,087 |
| £80,260.80 | 23,264 |
| £305,439.75 | 96,965 |
| 0 | 16,116 |
| £582.3915 | 157 |
| £576.45 | 183 |
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Chris Gillespie
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the take up of Nil Paid Rights resulting in the acquisition of 10,253 Ordinary Shares.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| £3.15 | 10,253 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
10,253
£32,296.95
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Shamus Hodgson
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the adjustment of matching share awards held under the PSP resulting in an increase of 939 Ordinary Shares under award.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| 0 | 939 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
999
£0
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David Merrett
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the following transactions took place:
· sale of 2,909 Nil Paid Rights to fund the take up of the remainder of Nil Paid Rights;
· sale of 3,687 Nil Paid Rights arising from share awards held under the LTIS by the EBT Trustee on behalf of the PDMR, to fund the take up of the remainder of Nil Paid Rights;
· acquisition of 7,181 Ordinary Shares as a result of the take up of Nil Paid Rights;
· the adjustment of options held under the SAYE, resulting in an increase of 675 Ordinary Shares under option and a revised option price of £12.0290;
· the sale of 118 Nil Paid Rights to fund the take up the remainder Nil Paid Rights resulting in the acquisition of 137 Ordinary Shares by the SIP Trustee on behalf of the PDMR under the SIP.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| £3.45 | 2,909 |
| £3.45 | 3,687 |
| £3.15 | 7,181 |
| £12.0290 | 675 |
| £3.7095 | 118 |
| £3.15 | 137 |
d)
Aggregated information
- Aggregated volume
- Aggregated price
| Aggregated price | Aggregated volume |
| £10,036.05 | 2,909 |
| £12,720.15 | 3,687 |
| £22,620.15 | 7,181 |
| £2,503.9125 | 675 |
| £437.721 | 118 |
| £431.55 | 137 |
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Ken Mullen
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the following transactions took place:
· the adjustment of matching share awards held under the PSP resulting in an increase of 615 Ordinary Shares under award;
· the adjustment of options held under the SAYE resulting in an increase of 963 Ordinary Shares under option and a revised option price of £5.0121; and
· the sale of 94 Nil Paid Rights to fund the take up the of the remainder of Nil Paid Rights resulting in the acquisition of 110 Ordinary Shares by the SIP Trustee on behalf of the PDMR, under the SIP.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| 0 | 615 |
| £5.0121 | 953 |
| £3.7095 | 94 |
| £3.15 | 110 |
d)
Aggregated information
- Aggregated volume
- Aggregated price
| Aggregated price | Aggregated volume |
| 0 | 615 |
| £4,776.5313 | 963 |
| £348.693 | 94 |
| £346.50 | 110 |
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
Outside a trading venue
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stuart Sinclair
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the take up of Nil Paid Rights resulting in the acquisition of 20,907 Ordinary Shares.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| £3.15 | 20,907 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
20,907
£65,857.05
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
London Stock Exchange
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Chris Sweeney
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Provident Financial plc
b)
LEI
213800U93SZC44VXN635
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 20 8/11p
GB00B1Z4ST84
b)
Nature of the transaction
Following the completion of the Rights Issue, the following transactions took place:
· the adjustment of matching share awards held under the PSP, resulting in an increase of 4,809 Ordinary Shares under award;
· the adjustment of options held under the SAYE resulting in an increase of 963 Ordinary Shares under options and a revised option price of £5.0121;
· the adjustment of awards held under the share award arrangement between the Company and Chris Sweeney, resulting in an increase of 3,859 Ordinary Shares under award; and
· the sale of 71 Nil Paid Rights to fund the take up of the remainder of Nil Paid Rights resulting in the acquisition of 82 Ordinary Shares by the SIP Trustees on behalf of the PDMR, under the SIP.
c)
Price(s) and volume(s)
| Price per Ordinary Share | Volume - number of Ordinary Shares |
| 0 | 4,809 |
| £5.0121 | 963 |
| 0 | 3,859 |
| £3.7095 | 71 |
| £3.15 | 82 |
d)
Aggregated information
- Aggregated volume
- Aggregated Price
| Aggregated price | Aggregated volume |
| 0 | 4,809 |
| £4,826.6523 | 963 |
| 0 | 3,859 |
| £263.3745 | 71 |
| £258.30 | 82 |
e)
Date of the transaction
10 April 2018
f)
Place of the transaction
Outside a trading venue
Name of authorised official of issuer responsible for making notification:
Ken Mullen, General Counsel & Company Secretary
Date of Notification:
13 April 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
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