RNS Number : 1160N
Foxtons Group PLC
15 May 2020
 

15 May 2020

Foxtons Group Plc

("the Company") 

 

Grant of Awards under The Foxtons Group plc 2020 Restricted Share Plan

 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

 

On 13 May 2020, the following awards were granted over the Company's Ordinary £0.01 shares under The Foxtons Group plc 2020 Restricted Share Plan ("RSP") to certain directors / persons discharging managerial responsibility ("PDMRs") of the Company.

 

Name

Status

Number of Ordinary Shares under RSP Award

Option Price

Nic Budden

Chief Executive Officer

1,404,885

£Nil

Richard Harris

Chief Financial Officer

555,144

£Nil

Patrick Franco

Chief Operating Officer

555,144

£Nil

 

No consideration was paid for the grant of the RSP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each RSP Award has been calculated using an Ordinary Share price of 40.53 pence per share being the average of the closing share prices over the three Dealing Days preceding the date of grant.

 

The normal vesting date of the RSP Awards will be 13 May 2023, being the third anniversary of the award date. Once vested, the RSP Awards will normally be exercisable until the day before the tenth anniversary of the award date.  The RSP Awards are subject to a two-year holding period commencing on vesting.

 

The RSP Awards will ordinarily vest after three years subject to the grantee's continued service and a discretionary underpin that allows the Remuneration Committee to make adjustments to the level of vesting if the Committee believes due to business performance, individual performance or wider Company considerations that the vesting should be adjusted.  This will include consideration of all relevant factors, including any windfall gains.

 

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nic Budden

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

Foxtons Group plc

b)

LEI

5493001HCMG6R1MYKC59

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

Identification code

Ordinary shares of Foxtons Group plc of £0.01 each

GB00BCKFY513

b)

Nature of transaction

Grant of nil cost option under the Foxtons Group plc 2020 Restricted Share Plan

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

nil

1,404,885

 

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

N/A single transaction

e)

Date of the transaction

13 May 2020

f)

Place of the transaction

XLON

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Harris

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

Foxtons Group plc

b)

LEI

5493001HCMG6R1MYKC59

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

Identification code

Ordinary shares of Foxtons Group plc of £0.01 each

GB00BCKFY513

b)

Nature of transaction

Grant of nil cost option under the Foxtons Group plc 2020 Restricted Share Plan

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

nil

555,144

 

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

N/A single transaction

e)

Date of the transaction

13 May 2020

f)

Place of the transaction

XLON

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Patrick Franco

2.

Reason for the notification

a)

Position / status

COO

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Foxtons Group plc

b)

LEI

5493001HCMG6R1MYKC59

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

Identification code

Ordinary shares of Foxtons Group plc of £0.01 each

GB00BCKFY513

b)

Nature of transaction

Grant of nil cost option under the Foxtons Group plc 2020 Restricted Share Plan

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

nil

555,144

 

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

N/A single transaction

e)

Date of the transaction

13 May 2020

f)

Place of the transaction

XLON

 

For further information contact:

Foxtons Group plc

Muhammed Patel, Investor Relations

+44 (0)20 7893 6261

investor@foxtonsgroup.co.uk


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