Source - LSE Regulatory
RNS Number : 3434Z
21 May 2021


21 May 2021




(the "Company" and together with its subsidiaries "JTC" or the "Group")


Grant of Conditional Performance Share Plan Awards



Grant of Conditional 2021 PSP Awards


In accordance with the requirements of Market Abuse Regulation Article 19, JTC announces that it has made PSP Awards over Ordinary Shares to certain of its directors and PDMRs (the "2021 Awards") as described below.

Name of Director / PDMR

Number of Conditional Shares Awarded

Nigel Le Quesne


Martin Fotheringham


Wendy Holley


Iain Johns


Jonathan Jennings


Michael Halloran


Richard Ingle



No consideration was paid for the grant of the 2021 Awards, which are structured as conditional share awards in accordance with the PSP rules. Nigel Le Quesne, Martin Fotheringham and Wendy Holley's 2021 Awards vest dependent on the achievement of relative Total Shareholder Return ("TSR") and absolute Earnings Per Share ("EPS") performance conditions measured over a three-year performance period.

Iain Johns, Jonathan Jennings, Michael Halloran and Richard Ingle's 2021 Awards vest dependent on the achievement of TSR, EPS and Group Business Plan performance conditions measured over a three-year performance period.

In addition, the 2021 Awards are further subject to an underpin performance condition that the extent of vesting reflects the overall performance of the Company over the three-year performance period. When making this determination the Committee will have full discretion to ensure that the final outcome is warranted based on the performance of the Company in the light of all relevant factors to ensure there have been no windfall gains.

The 2021 Awards are additionally subject to a two-year holding period following the date of vesting during which a dividend equivalent will accrue in the form of additional shares to the extent the awards vest, as calculated on a re-investment basis.

The 2021 Awards, which are subject to the Malus and Clawback conditions of the PSP, will ordinarily vest on 1 January 2024 or the date on which the Committee determines the extent to which the performance conditions have been satisfied.

Further details of the conditions applicable to the 2021 Awards and the remuneration arrangements for the Executive Directors are contained in Annual Report and Accounts for the year ended 31 December 2020.


Details of the person discharging managerial responsibilities/person closely associated



1.   Nigel Le Quesne

2.   Martin Fotheringham

3.   Wendy Holley

4.   Iain Johns

5.   Jonathan Jennings

6.   Michael Halloran

7.   Richard Ingle



Reason for the notification



1.   Chief Executive Officer

2.   Chief Financial Officer

3.   Chief Operating Officer

4.   Group Head of Private Client Services and PDMR

5.   Group Head of Institutional Client Services and PDMR

6.   Global Head of Technology Strategy and PDMR

7.   Chief Risk Officer and PDMR



Initial Notification/Amendment:

Initial Notification


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








Details of 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:

Identification code:

Ordinary shares of £0.01 each



Nature of the transaction:

Grant of conditional share award under the JTC PLC Performance Share Plan


Price(s) and volume(s):



Nominal price of £0.01 per share

1.   102,643

2.   74,782

3.   56,984

4.   19,270

5.   18,994

6.   11,455

7.   7,865



Aggregated volume:




Date of the Transaction:

20 May 2021


Place of the Transaction:

Outside trading venue



For further information please contact:


Miranda Lansdowne

JTC (Jersey) Limited

Company Secretary

+44 1534 700 000



About JTC


JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.