LSL Property Services plc
("LSL" or "the Company")
CORRECTION: NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")
The performance period for the awards has been corrected to '3 years ending 31st December 2023', not '3 years ending 31st December 2021.'
In accordance with Article 19 of the EU Market Abuse Regulation 596/2014 and DTR 3, LSL was notified on 5 May 2021 that awards were, on 5 May 2021, granted to Directors and PDMRs pursuant to LSL's Long Term Incentive Plan ("LTIP") as follows:
| Name of Director/PDMR | Number of LSL Property Services plc ordinary shares of 0.2p each awarded |
| David Stewart, Group Chief Executive Officer | 139,458 |
| Adam Castleton, Group Chief Financial Officer | 94,094 |
| Helen Buck, Executive Director - Estate Agency | 96,006 |
| Jon Round, Group Financial Services Director (PDMR) | 54,651 |
| Steve Goodall, Managing Director e.surv (PDMR) | 23,255 |
| Andy Deeks, Chief Strategy Officer (PDMR) | 32,435 |
As described in the Company's Annual Report and Accounts 2020, the awards are nil-cost options that will normally become exercisable on 5 May 2024, subject to continuous employment and the following performance conditions:
| Percentage of award subject to condition | Performance period | Performance measure | Threshold performance (no vesting below threshold) | Proportion vesting for threshold performance | Performance for maximum (100%) vesting |
| 50% | 3 years ending 31st December 2023 | Adjusted Basic earnings per share ("EPS") in 2023 | 28.6 pence | 25% | 40.5 pence |
| 50% | Total Shareholder Return ("TSR") ranked against the FTSE Small Cap, excluding investment trusts | Median | 25% | Upper quartile |
Vested awards normally remain exercisable until 10 years from their grant.
The awards made to the Company's Executive Directors; David Stewart, Adam Castleton and Helen Buck, are subject to a two year post-vesting holding period.
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 | ||||
| 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| 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 | ||||
| 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| 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 | ||||
| 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| 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 | 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| 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 | Steve Goodall | ||||
| 2 | Reason for notification |
| ||||
| a) | Position/Status | 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| 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 | Andy Deeks | ||||
| 2 | Reason for notification |
| ||||
| a) | Position/Status | 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction. | ||||
| e) | Date of the transaction | 5 May 2021 | ||||
| f) | Place of the transaction | Outside a trading venue |
For further information, please contact:
Sapna B FitzGerald, Company Secretary
Investorrelations@lslps.co.uk
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