Source - LSE Regulatory
RNS Number : 3887A
Chesnara PLC
29 May 2019





("Chesnara" or "the Company")


Notification of PDMR Dealing


Chesnara plc (the 'Company') today announces that the following PDMR has exercised options over ordinary shares as a result of the vesting of the awards made under the 2014 Chesnara Long Term Incentive Scheme ('LTI').  Of these, 26,800 shares were sold to cover liability to tax and national insurance contributions arising on vesting, with the balance being retained.



Details of the person discharging managerial responsibilities / person closely associated



David Rimmington


Reason for the notification



Chief Finance Officer


Initial notification /Amendment

Initial notification


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



Chesnara plc





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, type of instrument and identification code

Chesnara plc Ordinary shares of 5 pence each (Shares)

ID Code: (GB00B00FPT80)


Nature of the transaction


1.   Exercise of options over 48,449 shares following vesting of the conditional awards under the 2014 Long Term Incentive scheme.

2.   26,800 shares sold to cover tax and social security obligations


Price(s) and volume(s)

1.   Price(s): nil.         Volume: 48,449.

2.   Price(s): 371.0p.  Volume: 26,800.


Aggregated information



Date of the transaction

28 May 2019


Place of the transaction

1.   XOFF

2.   London Stock Exchange (XLON)


The above notification is made in accordance with the requirements of the EU Market Abuse Regulation.



For further information, please contact: -


Roddy Watt

Director, Capital Markets


Forward thinking communications


T - 020 7280 0651  

E - 


Notes to Editors

Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.


CA plc is a UK life assurance subsidiary that is closed to new business.  In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for £47.8m.  With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc.  Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for £63.5 million.  With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc.  On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for £39.3m.  On 31 December 2014 the PL business transferred into CA plc.  CA plc operates an outsourced business model.


Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for £20 million.  The company is open to new business and seeks to grow its position in the Swedish unit-linked market.  Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.


The Waard Group, a Netherlands-based Group comprising two closed book insurance companies (life and income protection) and a servicing company, was acquired on 19 May 2015 for €69.9m from DSB Beheer B.V., a Dutch financial services Group.  The group comprises Waard Leven N.V., Waard Schade N.V. and Waard Verzekeringen B.V.  The portfolio of the Waard Group is predominantly term life policies with some unit linked and income protection policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzekering Maatschappij N.V. ('LGN') for €161.2 million. The business was renamed Scildon, is in the Dutch life assurance market and, as with our Swedish subsidiary Movestic, it writes protection and pension new business.


Further details are available on the Company's website (

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