15 March 2022
Reach plc (the "Company")
Notification of Transactions by a Person Discharging Managerial Responsibilities ("PDMR")
Release of 2019 Award under the Reach Restricted Share Plan ("RSP")
The Company announces that on 11 March 2022, ordinary shares of 10 pence each in the Company ("Shares") were released to Simon Fuller, in accordance with the terms of an award granted to him under the RSP on 11 March 2019 (and including additional Shares issued to Mr. Fuller in October 2020 in relation to the bonus issue). On release, Mr. Fuller also received an additional number of Shares representing Shares which could have been acquired using dividends declared during the restricted period. Shares were sold to cover tax liabilities and sales costs, and Mr. Fuller retained the balance of the Shares.
Vesting of 2019 Award under the Reach Long-Term Incentive Plan 2012 ("LTIP")
On 11 March 2022, the award granted to Mr. Fuller under the LTIP on 11 March 2019 vested and became exercisable. This award is subject to a two-year holding period from 11 March 2022 to 11 March 2024. The award can be exercised at any time up to 11 June 2024, and a further announcement will be made at the point of exercise.
The notification below, which have 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
| 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
| a. Application and release of an additional number of shares representing shares which could have been acquired using dividends declared during the restricted period, to restricted shares granted under the RSP on 11 March 2019. b. Release of award of restricted shares granted under the RSP on 11 March 2019. | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | a. | Nil | 8,481 | | |
| | b. | Nil | 80,709 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 89,190 | ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e)
| Date of the transaction
| 2022-03-11 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 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
| Sale of shares to cover applicable withholding tax and other deductions arising on release of the award under the RSP
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | £1.78421 | 42,005 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 42,005 | ||||
| | | ||||
| - Price | £1.78421 | ||||
| | | ||||
| e)
| Date of the transaction
| 2022-03-11 | |||
| f)
| Place of the transaction
| XLON | |||
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 |
| Giles Kernick | |
| | |
| | |
| LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
| |
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.
