REG - Chesnara PLC - Director/PDMR Shareholding

ChesnaraAnnouncement

16/05/2024 07:00

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RNS Number : 6062O  Chesnara PLC  16 May 2024

 

 LEI Number: 213800VFRMBRTSZ3SJ06

 

16(th) May 2024

 

CHESNARA plc
("Chesnara" or "the Company")

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY ('PDMRs')

 

Further to the appointment of Tom Howard as Group Chief Financial Officer,
Chesnara plc (the 'Company') today announces that, under the terms of his
appointment, Tom (a PDMR) was granted awards in the ordinary shares of the
Company under the Chesnara plc Buy-out Plan.  These awards are to compensate
him for remuneration arrangements forfeited on leaving his former employer,
Aviva Investors.  These awards were made in accordance with the Company's
Directors' Remuneration Policy which was approved by shareholders on 16(th)
May 2023 and are subject to the Executive Directors' Minimum Shareholding
Policy.

 

The notification below, which is being made in accordance with the
requirements of the UK Market Abuse Regulations, provides further detail of
the awards granted to the PDMR.

 

 

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 a)   Natural person:                                                              Tom Howard

 b)   Legal
      person
 2    Reason for the notification
 a)   Position/status:                                                             Group Chief Financial Officer
 b)   Initial notification/amendment                                               Initial notification
 3    Details of the Issuer
 a)   Name                                                                         Chesnara plc
 b)   Legal Entity Identifier:                                                     213800VFRMBRTSZ3SJ06
 4    Details of the transaction(s): Parts a-d of this section are 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  Chesnara plc Ordinary Shares of 5 pence each
      code)

                                                                                   (GB00B00FPT80)
 b)   Nature of the transaction                                                    GRANT 1

                                                                                   Granted under the Chesnara Buy-out Plan, the option is subject to a
                                                                                   performance target over a period of one year.

                                                                                   Subject to the achievement of the performance target, the option will become
                                                                                   exercisable on 15(th) May 2025 and remain exercisable up to and including
                                                                                   15(th) May 2034 if not exercised before that date.

                                                                                   GRANT 2

                                                                                   Granted under the Chesnara Buy-out Plan, the option is subject to a
                                                                                   performance target over a period of two years.

                                                                                   Subject to the achievement of the performance target, the option will become
                                                                                   exercisable on 15(th) May 2026 and remain exercisable up to and including
                                                                                   15(th) May 2034 if not exercised before that date.

                                                                                   GRANT 3

                                                                                   Granted under the Chesnara Buy-out Plan, the option is subject to a
                                                                                   performance target over a period of three years.

                                                                                   Subject to the achievement of the performance target, the option will become
                                                                                   exercisable on 15(th) May 2027 and remain exercisable up to and including
                                                                                   15(th) May 2034 if not exercised before that date.

 c)   Price(s) and volume(s)                                                       Price(s)                                 Volume(s)
      Nil                                                                                                                   GRANT 1

                                                                                                                            188,492 Ordinary shares of 5p each
      Nil                                                                                                                   GRANT 2

                                                                                                                            99,206 Ordinary shares of 5p each
      Nil                                                                                                                   GRANT 3

                                                                                                                            75,397 Ordinary shares of 5p each
 d)   Aggregated information

      - Aggregated volume                                                          -    363,095 ORDINARY SHARES OF 5P EACH

      - Price                                                                      -    Nil
 e)   Date of the transaction (YYYY - MM - DD)                                     2024-05-15
 f)   Place of the transaction                                                     XOFF

 

 

 Name of authorised official of issuer responsible for making notification: -
 Amanda Wright

 Date of notification: - 16(th) May 2024

 

 

 

For further information, please contact:

 

Investor Enquiries

Sam Perowne

Head of Strategic Development & Investor Relations

Chesnara plc

E - sam.perowne@chesnara.co.uk (mailto:sam.perowne@chesnara.co.uk)

 

Media Enquiries

Roddy Watt

Director, Capital Markets

FWD

T - 020 7280 0651 / 07714 770 493

E - roddy.watt@fwdconsulting.co.uk (mailto:roddy.watt@fwdconsulting.co.uk)

 

Notes to Editors

Chesnara (CSN.L) is a European life and pensions consolidator listed on the
London Stock Exchange.  It administers approximately one million policies and
operates as Countrywide Assured in the UK, as The Waard Group and Scildon in
the Netherlands, and as Movestic in Sweden.

 

Following a three-pillar strategy, Chesnara's primary responsibility is the
efficient administration of its customers' life and savings policies, ensuring
good customer outcomes and providing a secure and compliant environment to
protect policyholder interests. It also adds value by writing profitable new
business in Sweden, the Netherlands and the UK and by undertaking value-adding
acquisitions of either companies or portfolios.

 

Consistent delivery of the Company strategy has enabled Chesnara to increase
its dividend for 19 years in succession.

 

Further details are available on the Company's website (www.chesnara.co.uk
(http://www.chesnara.co.uk/) ).

 

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