Source - RNS
RNS Number : 4910L
Smiths Group PLC
03 October 2016
 

3 OCTOBER 2016

SMITHS GROUP PLC

 

NOTIFICATION OF TRANSACTION OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR PERSONS CLOSELY ASSOCIATED

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

CHRISTOPHER MICHAEL O'SHEA


2

Reason for the notification

 

a)

Position/status

CHIEF FINANCIAL OFFICER / EXECUTIVE DIRECTOR

b)

Initial Notification / Amendment

INITIAL NOTIFICATION

 

3

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

a)

Name

SMITHS GROUP PLC

b)

LEI

213800MJL6IPZS3ASA11

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 SHARE

 

 

ISIN GB00B1WY2338

b)

Nature of the transaction  

1.   VESTING INTO NOMINEE ACCOUNT OF 37,371 SHARES PURSUANT TO THE FIRST TRANCHE OF THE BUY-OUT AWARD GRANTED ON JOINING THE COMPANY

2.   MARKET SALE OF 17,600 SHARES IN ORDER TO MEET INCOME TAX AND NATIONAL INSURANCE LIABILITIES ARISING FROM 1. ABOVE

 

c)

Price(s) and volume(s)

 


Price(s)

Volume(s)

1.      Acquired

NIL

37,371

2.  Sold

GBP 14.532698

17,600

d)

Aggregated information

- Aggregated volume

- Price

 

 

As shown in 4c)

e)

Date of the transaction

2016-09-30

 

f)

Place of the transaction

XLON (London)

 

g)

Additional Information

Mr O'Shea was granted a restricted stock award over 71,938 shares under the terms of the buyout arrangements agreed in respect of his appointment as Chief Financial Officer of the Company on 18 September 2015. 

On 30 September 2016 the first tranche of the award vested.  In accordance with the terms of the award, the number of shares that vested comprised fifty percent of the initial award plus additional shares in respect of notional dividends thereon.  The number of additional shares awarded in respect of the notional dividends has been calculated on the assumption that such additional shares were deemed to have been purchased with the dividends notionally paid in respect of the vested shares at the mid-market closing price of a share on the date of payment of each such dividend during the period of the award prior to vesting.

Subject to the terms of the award, the balance of the shares comprising the award are expected to vest on or around 30 September 2017.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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