Director/PDMR Shareholding
Updated : 19:59
Vanquis Banking Group plc ("the Company")
Director/PDMR Transaction - Initial Notification
The Company announces that it has granted the following awards on 8 September 2023 over the Company's ordinary shares of 20 8/11p ("Shares") as follows:
1. nil-cost options over 964,095 Shares for no consideration to Ian McLaughlin, who is a director/person discharging managerial responsibility ("PDMR") in the Company, under the 2020 Restricted Share Plan (the "RSP Options");
2. market value options linked to the RSP Options over 54,844 Shares for no consideration to Ian McLaughlin, who is a director and PDMR in the Company, under the 2020 Restricted Share Plan (the "CSOP Options"); and
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 is based on the average closing share price on the London Stock Exchange between 1 September 2023 and 7 September 2023 of £1.0756, discounted from that price at grant to reflect the absence of dividend equivalents during the vesting period.
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
| Ian McLaughlin | ||||||
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 linked share options under the 2020 Restricted Share Plan. | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
1,018,939
£59,999.34 | ||||||
e)
| Date of the transaction | 8 September 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:
11 September 2023
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