Vanquis Banking Group (formerly: Provident Financial Plc)

Remuneration Information • Apr 13, 2023

National Storage Mechanism | Additional information

RNS Number : 1144W

Vanquis Banking Group PLC

13 April 2023

Vanquis Banking Group plc ("the Company")

Director/PDMR Transaction - Initial Notification

The Company announces that it has granted the following awards on 12 April 2023 over the Company's ordinary shares of 20 8/11p ("Shares") as follows:

1.   nil-cost options over  406,561 and 298,942 Shares for no consideration to Malcolm Le May and Neeraj Kapur respectively, who are directors/persons discharging managerial responsibility ("PDMRs") in the Company, under the 2020 Restricted Share Plan (the "RSP Options");

2.   market value options linked to the RSP Options over  13,498 and  13,498 Shares for no consideration to Malcolm Le May and Neeraj Kapur respectively, who are directors and PDMRs in the Company, under the 2020 Restricted Share Plan  (the "CSOP Options"); and

3.   awards over  190,539 and 125,122 Shares to Malcolm Le May and Neeraj Kapur respectively, who are directors and PDMRs in the Company, under the Deferred Bonus Plan 2022 (the "DBP Awards").

The RSP Options and CSOP Options work on the basis that the total number of Shares over which the RSP Options and CSOP Options may be exercised cannot exceed that number of Shares as on the grant date had a market value equal to the total number of Shares covered by the RSP Option and CSOP Options less the exercise price payable under the CSOP Options.

The number of ordinary shares awarded under the RSP Options and DBP Awards is based on the average closing share price on the London Stock Exchange between 31 March 2023 and 6 April 2023 of £2.2224, discounted from that price at grant to reflect the absence of dividend equivalents during the vesting period.

In respect of the DBP Awards, SG Kleinwort Hambros Trust Company (CI) Limited will transfer the beneficial interest to the participants, including the PDMRs, in satisfaction of the DBP Awards granted subject to and in accordance with the terms of the Deferred Bonus Plan 2022.

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

Malcolm Le May

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Vanquis Banking Group 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

Acquisition of nil-cost options and a linked share options under the 2020 Restricted Share Plan and an award under the Deferred Bonus Plan 2022.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	406,561
£2.2224	13,498
£1.8440	190,539

d)

Aggregated information

- Aggregated volume

- Price

610,598

£381,351.87

e)

Date of the transaction

12 April 2023

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

Neeraj Kapur

2

Reason for the notification

a)

Position/status

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

Vanquis Banking Group 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

Acquisition of nil-cost options and a linked share options under the 2020 Restricted Share Plan and an award under the Deferred Bonus Plan 2022.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	298,942
£2.2224	13,498
£1.8440	125,122

d)

Aggregated information

- Aggregated volume

- Price

437,562

£260,722.92

e)

Date of the transaction

12 April 2023

f)

Place of the transaction

Outside a trading venue

Name of authorised official of issuer responsible for making notification:

David Whincup, Deputy Company Secretary

Date of Notification:

13 April 2023

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