Source - RNS
RNS Number : 7261H
Inmarsat PLC
09 June 2017
 

 

9 June 2017

 

 

Inmarsat plc

(the "Company")

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

Awards over ordinary shares of €0.0005 in Inmarsat plc under the Performance Share Plan made to Mr Bates on his joining the Company in June 2014 vested on 9 June 2017.

 

Vesting of the award was dependent on 3-year TSR vs the FTSE350 (excluding Investment Trusts) and 3-year EBITDA growth, measured over the three years to 31 December 2016 and weighed equally.  The vesting outcome is the same as that disclosed for the share award that vested in March 2017 for other PDMRs which was a vesting outcome of 30% of the element for TSR (or 15% out of 100% of the total award) and 66% of EBITDA (or 33% out of the total award) vesting occurred.  48% of the total award vested.

 

The PSA is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions ('tax and NI') become payable.   Sufficient shares were sold to cover tax and NI and the remaining shares were added to the existing number of ordinary shares held by Mr Bates.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Tony Bates

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

 

 

Inmarsat plc

b)

 

LEI

 

 


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

Ordinary Shares



Identification code

GB00B09LSH68 

 



b)

 

Nature of the transaction

 

 

Share Acquisition through vesting  of Performance Share Award (acquired 32,179, sold 15,155 and retained 17,024 shares)

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




GBP 0.00   

32,179







d)

 

Aggregated information




- Aggregated volume

32,179



- Price

GBP 0.00



e)

 

Date of the transaction

 

 

9 June 2017

f)

 

Place of the transaction

 

 

London Stock Exchange

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Tony Bates

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

 

 

Inmarsat plc

b)

 

LEI

 

 


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

Ordinary Shares



Identification code

GB00B09LSH68 

 



b)

 

Nature of the transaction

 

 

Share Disposal to cover tax and NI arising from the vested Performance Share Award (acquired 32,179, sold 15,155 and retained 17,024 shares)

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




GBP 8.13   

15,155







d)

 

Aggregated information




- Aggregated volume

15,155



- Price

GBP123,295.02



e)

 

Date of the transaction

 

 

9 June 2017

f)

 

Place of the transaction

 

 

London Stock Exchange

 

 

 


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