13 May 2021
Reach plc (the "Company")
Grant of 2021 Awards under the Reach Long Term Incentive Plan ("LTIP")
On 11 May 2021, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to the following Directors and Persons Discharging Managerial Responsibility under the LTIP. Vesting of the options granted in 2021 are subject to the achievement of performance conditions over a three-year period (as set out in the Company's 2020 annual report), plus a subsequent holding period of two years.
During the holding period restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability). The awards will also be subject to the malus and clawback provisions of the LTIP.
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Jim Mullen | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Executive Officer | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Reach plc | |||
| b)
| LEI
| 213800GNI5XF3XOATR61 | |||
| 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 10p Shares | |||
| | | ||||
| Identification code | GB0009039941 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of nil-cost share options under the Reach Long Term Incentive Plan
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | £nil | 364,430 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 364,430 | ||||
| | | ||||
| - Price | £nil | ||||
| | | ||||
| e)
| Date of the transaction
| 11 May 2021 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Simon Fuller
| |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Financial Officer | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Reach plc | |||
| b)
| LEI
| 213800GNI5XF3XOATR61 | |||
| 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 10p Shares | |||
| | | ||||
| Identification code | GB0009039941 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of nil-cost share options under the Reach Long Term Incentive Plan
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | £nil | 243,706 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 243,706 | ||||
| | | ||||
| - Price | £nil | ||||
| | | ||||
| e)
| Date of the transaction
| 11 May 2021 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
Enquiries
| | |
| Reach | 020 7293 3000 |
| Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary
| |
| Tulchan Communications | 020 7353 4200 |
| David Allchurch, Partner | |
| | |
| | |
| LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
| |
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