REG - Mobico Group PLC - Director/PDMR Shareholding

MobicoAnnouncement

21/06/2024 10:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240621:nRSU4086Ta&default-theme=true

RNS Number : 4086T  Mobico Group PLC  21 June 2024

 

MOBICO GROUP PLC

 ("Company")

 

Director/PDMR Share Dealing

 

The Company provides notification of the following transaction, effected on 20
June 2024, relating to the below named Person Discharging Managerial
Responsibilities ("PDMRs") and his respective interests in the ordinary shares
of nominal value 5p each in the capital of the Company ("Shares") (ISIN:
GB0006215205).

 

The transaction arises in respect of the grant under the rules of the
Company's Long-Term Incentive Plan ("LTIP") to Ignacio Garat of three-year
performance-conditioned nil-cost options over Shares (the "2024 LTIP Award")
in accordance with the Directors Remuneration Policy.

 

At the time of grant, the Company's share price (according to the middle
market quotation of the Company's share price on the last dealing day prior to
the date of grant of the awards) was 47.16p.  Accordingly, the Remuneration
Committee has determined to scale back awards such that a reduction of 30% has
been applied to the 2024 LTIP Award.  The numbers shown below in relation to
the 2024 LTIP Award are post that reduction.

 

The Remuneration Committee retains discretion to adjust the outcome of the
vesting of the 2024 LTIP Award having regard to all relevant circumstances,
including the Company's performance and the Company's shareholders'
experience, over the three-year performance period and further to adjust the
vesting of the Award downwards if that vesting would otherwise result in a
windfall gain.

 

Individual PDMR and transaction details are set out in the table below:

 

 Name and position of PDMR                      Number of Shares over which the 2024 LTIP Award was granted(1)  Unrestricted beneficial interest held in Shares following the transactions(2)  Total other interest held in Shares following the transactions(3)

 Ignacio Garat, Group Chief Executive Officer   1,781,170                                                       274,659                                                                        2,974,433(4)

¹ The conversion of the 2024 LTIP Award value into the number of Shares over
which it was granted is described above. The 2024 LTIP Award is shown over the
maximum number of Shares which can vest.

² Including those held by connected persons.

³ Represents outstanding awards granted under the Company's Executive
Deferred Bonus Plan and the Company's Long-Term Incentive Plan.

(4) Mr Garat was also granted an approved CSOP award alongside his 2024 LTIP
Award in line with HMRC permitted limits, which can be exercised by way of
effective set-off against any shares vesting under the corresponding 2024 LTIP
Award. Due to this effective set-off arrangement, his interests in Shares
under such approved CSOP award is not included in the table above as this
would result in a double-count.

 

 

 1.                  Details of PDMR / PCA
                     Full Name                                             Ignacio Garat
                     Position / status                                     Group Chief Executive Officer, PDMR
                     Initial notification / amendment                      Initial notification
 2.                  Details of the issuer, emission allowance market participant, auction
                     platform, auctioneer or auction monitor
                     Name                       Mobico Group PLC

                     LEI                        213800A8IQEMY8PA5X34
 3.                  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
                     Description of the financial instrument               Ordinary shares of 5p each

                     Identification code                                   GB0006215205

                     Nature of the transaction                             (i)Award of option over shares under the Mobico Group PLC's Long-Term
                                                                           Incentive Plan
                     Price(s) and volume(s)                                Price(s)  Volume(s)  Total
                                                                           (i)  £ n/a     1,781,170  0.00
                     Date of the transaction                               20 June 2024
                     Place of the transaction                              n/a

Date of the transaction

20 June 2024

Place of the transaction

n/a

 

 

 

This above notice is given in fulfilment of the Company's obligation under DTR
3.1 and Article 19 of the EU Market Abuse Regulation 596/2014 as incorporated
into domestic law by the European Union (Withdrawal) Act 2018.

 

-       END -

 

Mobico contact and telephone number for enquiries:

 

Simon Callander, Group General Counsel & Company Secretary

+44 (0) 7795 232 708

 

Gillian Saunderson, Deputy Company Secretary

+44 (0) 7471 142 961

 

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQKDBKCBKKFAB