Provident Financial plc ("the Company")
Director/PDMR Transaction - Initial Notification
The Company announces that it has granted the following awards over the Company's ordinary shares of 20 8/11p as follows:
1. on 1 April 2020, the Company granted a conditional award over 248,733 ordinary shares of 20 8/11p for no consideration to Neeraj Kapur who is a Director of the Company under the Provident Financial Long Term Incentive Scheme 2015 (the "LTIS Awards"); and
2. on 2 April 2020 the Company also granted conditional awards over a total of 175,662 ordinary shares of 20 8/11p for no consideration to Neeraj Kapur. The conditional award will normally vest, subject to continued service and performance conditions, as follows:
· 34,265 ordinary shares of 20 8/11p will vest on 20 April 2021
· 50,540 ordinary shares of 20 8/11p will vest on 1 April 2022
· 23,830 ordinary shares of 20 8/11p will vest on 20 April 2022
· 67,027 ordinary shares of 20 8/11p will vest on 2 April 2023
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 Finance Officer | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Provident Financial 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 a conditional award under the Provident Financial Long Term Incentive Scheme 2015 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | 248,733 £540,000 | ||||
e) | Date of the transaction | 1 April 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Neeraj Kapur | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Finance Officer | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Provident Financial 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 | Grant of a conditional award by the Company over 175,662 shares under a Buy Out Award Agreement. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | 175,662 £324,978 | ||||
e) | Date of the transaction | 2 April 2020 | ||||
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 :
3 April 2020