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LEI Number: 213800VFRMBRTSZ3SJ06
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29 April 2022
CHESNARA plc
("Chesnara" or "the Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ('PDMRs')
Chesnara plc (the 'Company') announces that on 28 April 2022 Steve Murray and David Rimmington (each a PDMR) were granted awards over the ordinary shares of the Company under the Chesnara plc Long Term and Short Term Incentive Schemes. These awards were made in accordance with the Directors' Remuneration Policy which was approved by shareholders on 26 May 2020.
The notifications for each PDMR below, which are being made in accordance with the requirements of the EU Market Abuse Regulations, provide further detail of the awards granted to each PDMR.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | Steve Murray | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Executive Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | GRANT 1 Granted under the Chesnara 2014 Short-term Incentive Scheme. The option is not subject to a performance target.
The option will become exercisable on 28 April 2025 and remain exercisable up to and including 27 April 2032 if not exercised before that date.
GRANT 2 Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to a performance target over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28 April 2025 and remain exercisable up to and including 27 April 2032 if not exercised before that date. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | GRANT 1 29,525 Ordinary shares of 5p each | ||
| Nil | GRANT 2 147,627 Ordinary shares of 5p each | ||
| d) | Aggregated information - Aggregated volume - Price |
- 177,152 ORDINARY SHARES OF 5P EACH - Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2022-04-28 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | David Rimmington | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Chief Finance Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | GRANT 1 Granted under the Chesnara 2014 Short-term Incentive Scheme. The option is not subject to a performance target.
The option will become exercisable on 28 April 2025 and remain exercisable up to and including 27 April 2032 if not exercised before that date.
GRANT 2 Granted under the Chesnara 2014 Long-term Incentive Scheme. The option is subject to a performance target over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28 April 2025 and remain exercisable up to and including 27 April 2032 if not exercised before that date. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | GRANT 1 31,327 Ordinary shares of 5p each | ||
| Nil | GRANT 2 105,556 Ordinary shares of 5p each | ||
| d) | Aggregated information - Aggregated volume - Price |
136,883 ORDINARY SHARES OF 5P EACH Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2022-04-28 | |
| f) | Place of the transaction | XOFF | |
| Name of authorised official of issuer responsible for making notification: - Al Lonie
Date of notification: - 29 April 2022
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For further information, please contact:
Investor Enquiries
Sam Perowne
Head of Strategic Development & Investor Relations
Chesnara plc
E - sam.perowne@chesnara.co.uk
Media Enquiries
Roddy Watt
Director, Capital Markets
FWD
T - 020 7280 0651 / 07714 770 493
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara is a European life and pensions consolidator listed on the London Stock Exchange. It administers approximately one million policies and operates as Countrywide Assured and Sanlam Life & Pensions in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.
Following a three pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in Sweden and the Netherlands and by undertaking value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 17 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).
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