Source - PRN

Charles Taylor plc (“the Company”)

Director/PDMR Shareholding

The Company announces that on 4 April 2018, the following Executive Directors received nil cost performance share awards over ordinary shares of 1p each in the Company (“Shares”) pursuant to the vesting of awards made on 19 March 2015 under the Charles Taylor Long Term Incentive Plan 2007 (LTIP).  The original number of shares awarded was adjusted to take account of the Company’s rights issue in 2015 using TERP.  The vesting of the awards was subject to a performance condition, which has resulted in the awards vesting at 69.2% of the maximum allocation.  The number of Shares issued reflects this and includes shares representing the dividends that recipients would have accrued on the vested shares in the period in accordance with the rules of the LTIP. 

On the maturity of the awards, the tax and NI liabilities arising were net settled and a portion of the Shares were withheld for each of the recipients.  The balance of Shares due to each recipient was then transferred into the recipients’ names by the Trustee of the Charles Taylor Employees’ Share Ownership Plan, as indicated below:

Executive Director: Number of shares vesting: Number of shares withheld to meet tax liabilities: Balance of shares transferred:
David Marock 83,072 39,044 44,028
Damian Ely 37,036 17,407 19,629
Mark Keogh 59,229 27,838 31,391

Formal notifications in respect of the Executive Directors are below:

1 Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a) Name David Marock
2 Reason for the notification
a) Position/status Group Chief Executive Officer and Executive Director (PDMR).
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Charles Taylor plc
b) LEI 2138009V1NHVCXIQ6V62
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 1 pence each


GB0001883718
 
b) Nature of the transaction Vesting of a share award under the LTIP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 83,072

d)

Aggregated information

-Aggregated volume

N/A (single transaction)
e) Date of the transaction 2018-04-04
f) Place of the transaction Outside a trading venue

   

1 Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a) Name Damian Ely
2 Reason for the notification
a) Position/status Chief Executive Officer, Adjusting Services and Executive Director (PDMR).
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Charles Taylor plc
b) LEI 2138009V1NHVCXIQ6V62
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 1 pence each


GB0001883718
 
b) Nature of the transaction Vesting of a share award under the LTIP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 37,036

d)

Aggregated information

-Aggregated volume

N/A (single transaction)
e) Date of the transaction 2018-04-04
f) Place of the transaction Outside a trading venue

   

1 Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a) Name Mark Keogh
2 Reason for the notification
a) Position/status Group Chief Financial Officer and Executive Director (PDMR).
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Charles Taylor plc
b) LEI 2138009V1NHVCXIQ6V62
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 1 pence each


GB0001883718
 
b) Nature of the transaction Vesting of a share award under the LTIP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 59,229

d)

Aggregated information

-Aggregated volume

N/A (single transaction)
e) Date of the transaction 2018-04-04
f) Place of the transaction Outside a trading venue

For more information, please contact:

Ivan Keane – Group Company Secretary and General Counsel – 020 3320 2206

Susan Morgan – Deputy Group Company Secretary – 020 3320 8814

Charles Taylor plc

6 April 2018

Notes to editors

About Charles Taylor  www.ctplc.com

Charles Taylor Plc supports and enables the insurance market to meet the continually evolving challenges it faces.  We provide technical services to make the business of insurance work fundamentally better.  We have been providing insurance-related technical services and solutions since 1884 and today we employ over 2,100 permanent and contract staff in 107 locations spread across 29 countries in the UK, the Americas, Asia Pacific, Europe the Middle East and Africa.

We are unique in our market in that our services support every stage of the insurance lifecycle and every aspect of the insurance operating model.  We develop and operate insurance vehicles on behalf of our clients, manage claims programmes and adjust losses. We handle legacy and run-off portfolios, provide a variety of specialist operational support services and offer solutions and support to drive insurance technology transformation.

Charles Taylor’s breadth of services, technical skills and resources and global presence means the Group can manage and resolve virtually any insurance-related matter, wherever and whenever it occurs.

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