20 July 2021
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)/Persons Closely Associated (PCAs) in accordance with the Market Abuse Regulations
Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July 2021 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.
| Director / PDMR | Position | No. of shares under Award |
|
|
|
|
| Gavin Rochussen | Chief Executive Officer | 191,677 |
| Iain Evans | Global Head of Distribution | 93,401 |
| Alexander Black | Chief Investment Officer | 92,234 |
| Samir Ayub | Finance Director | 47,919 |
| Nicholas Farren | Chief Operating Officer | 47,919 |
Vesting of the Awards is subject to continued employment and performance based on the following measures:
- 45% of each Award is subject to a performance condition relating to the performance of the Company's total shareholder return relative to the constituents of the FTSE 250 Index (excluding investment trusts) as at the Grant Date.
- 45% of each Award is subject to a performance condition requiring the Company's core adjusted diluted earnings per share to achieve a pre-set level for the financial year 2023/24 (the end of three financial years commencing on 1 April 2021).
- The remaining 10% of each Award is subject to a performance condition based on the aggregate performance fee profits for the three financial years commencing on 1 April 2021.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Gavin Rochussen | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 Shares of 2.5 pence each in Polar Capital Holdings PLC
| ||||
|
| Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally begins to vest after 3 years. One third of the vested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Iain Evans | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Global Head of Distribution | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 Shares of 2.5 pence each in Polar Capital Holdings PLC
| ||||
|
| Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally begins to vest after 3 years. One third of the vested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Alexander Black | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Investment Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 Shares of 2.5 pence each in Polar Capital Holdings PLC
| ||||
|
| Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally begins to vest after 3 years. One third of the vested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Samir Ayub | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Finance Director | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 Shares of 2.5 pence each in Polar Capital Holdings PLC
| ||||
|
| Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally begins to vest after 3 years. One third of the vested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Nicholas Farren | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Operating Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 Shares of 2.5 pence each in Polar Capital Holdings PLC
| ||||
|
| Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Subject to performance over 3 years and continued service, the award normally begins to vest after 3 years. One third of the vested shares may be released to the individual on the third, fourth and fifth anniversaries of the award date. The Net Vested Shares (as defined in the EIP Rules) are subject to a holding period and may not be sold until the fifth anniversary of the award date. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive)
John Mansell (Executive Director)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Charles Farquhar
Stephen Westgate
Kevin Cruickshank (QE)
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Rishi Shah
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Monique Perks
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