Source - LSE Regulatory
RNS Number : 8832E
LSL Property Services PLC
10 November 2020
 

LSL Property Services plc 

("LSL" or "the Company")

 

EXECUTIVE DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") ANNUAL LONG TERM INCENTIVE PLAN AWARDS 2020:

In accordance with Article 19 of the EU Market Abuse Regulation 596/2014 and DTR 3, LSL was notified on 9th November 2020 that the following awards were granted to LSL's Executive Directors and PDMRs on 9th November 2020 pursuant to LSL's Long Term Incentive Plan ("LTIP"):

Name of Director/PDMR

Number of LSL Property Services plc ordinary shares of 0.2p each awarded

David Stewart, Group Chief Executive Officer (Executive Director)

221,833

Adam Castleton, Group Chief Financial Officer (Executive Director)

149,700

Helen Buck, Executive Director - Estate Agency (Executive Director)

152,665

Jon Round, Group Financial Services Director (PDMR)

104,513

Mary Jane Cross, MD e.surv (PDMR)

39,192

 

The awards are nil-cost options that will normally become exercisable on 9th November 2023, subject to continuous employment and performance conditions being met.  Details of the performance conditions will be included in the Company's Annual Report & Accounts 2020 to be published in 2021. Vested awards normally remain exercisable until 10 years from their grant.

In light of the impact of the COVID-19 pandemic on the Company's share price, the awards for the Company's Executive Directors have been scaled-back from a normal annual award value of 125% of basic salary to 104% of basic salary.

 

The information set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation 596/2014.

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

David Stewart

2

Reason for notification

 

a)

Position/Status

Group Chief Executive Officer (Executive Director)

b)

Initial notification/Amendment

Initial notification

3

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

 

a)

Name

LSL Property Services plc

b)

LEI

213800T4VM5VR3C7S706

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 0.2p each in LSL Property Services plc

 

GB00B1G5HX72

b)

Nature of transaction

Awards made pursuant to LSL Property Services plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

N/A

221,833

d)

Aggregated information

-      Aggregated volume

-      Price

Not applicable - single transaction.

e)

Date of the transaction

9th November 2020

f)

Place of the transaction

Outside a trading venue

 

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

Adam Castleton

2

Reason for notification

 

a)

Position/Status

Group Chief Financial Officer

(Executive Director)

b)

Initial notification/Amendment

Initial notification

3

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

 

a)

Name

LSL Property Services plc

b)

LEI

213800T4VM5VR3C7S706

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 0.2p each in LSL Property Services plc

 

GB00B1G5HX72

b)

Nature of transaction

Awards made pursuant to LSL Property Services plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

N/A

149,700

d)

Aggregated information

-      Aggregated volume

-      Price

Not applicable - single transaction.

e)

Date of the transaction

9th November 2020

f)

Place of the transaction

Outside a trading venue

 

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

Helen Buck

2

Reason for notification

 

a)

Position/Status

Executive Director - Estate Agency (Executive Director)

b)

Initial notification/Amendment

Initial notification

3

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

 

a)

Name

LSL Property Services plc

b)

LEI

213800T4VM5VR3C7S706

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 0.2p each in LSL Property Services plc

 

GB00B1G5HX72

b)

Nature of transaction

Awards made pursuant to LSL Property Services plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

N/A

152,665

d)

Aggregated information

-      Aggregated volume

-      Price

Not applicable - single transaction.

e)

Date of the transaction

9th November 2020

f)

Place of the transaction

Outside a trading venue

 

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

Jon Round

2

Reason for notification

 

a)

Position/Status

Group Financial Services Director (PDMR)

b)

Initial notification/Amendment

Initial notification

3

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

 

a)

Name

LSL Property Services plc

b)

LEI

213800T4VM5VR3C7S706

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 0.2p each in LSL Property Services plc

 

GB00B1G5HX72

b)

Nature of transaction

Awards made pursuant to LSL Property Services plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

N/A

104,513

d)

Aggregated information

-      Aggregated volume

-      Price

Not applicable - single transaction.

e)

Date of the transaction

9th November 2020

f)

Place of the transaction

Outside a trading venue

 

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

Mary Jane Cross

2

Reason for notification

 

a)

Position/Status

MD e.surv (PDMR)

b)

Initial notification/Amendment

Initial notification

3

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

 

a)

Name

LSL Property Services plc

b)

LEI

213800T4VM5VR3C7S706

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 0.2p each in LSL Property Services plc

 

GB00B1G5HX72

b)

Nature of transaction

Awards made pursuant to LSL Property Services plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

N/A

39,192

d)

Aggregated information

-      Aggregated volume

-      Price

Not applicable - single transaction.

e)

Date of the transaction

9th November 2020

f)

Place of the transaction

Outside a trading venue

 

For further information, please contact:
Sapna B FitzGerald, Company Secretary
investorrelations@lslps.co.uk

 

Notes:

1.     The grant of the awards to the Company's Executive Directors (David Stewart, Adam Castleton and Helen Buck) and PDMRs (Jon Round and Mary Jane Cross) normally takes place in March each year in the period following the publication of the Company's preliminary results.  The 2020 grant of the awards was delayed due to the existence of exceptional circumstances including the COVID-19 pandemic.

2.     In response to the COVID-19 pandemic, all Board members agreed a voluntary reduction of one third of salary (Executive Directors) and fees (Non-Executive Directors) from 1st April 2020 to 1st August 2020.

3.     The awards to the Executive Directors are subject to a two year post-vesting holding period.  

 

 

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