8 July 2022
SAGA PLC (THE COMPANY) - DIRECTOR/PDMR SHAREHOLDING
Pursuant to the notification obligations under Article 19 of the Market Abuse Regulation, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility (PDMRs) in Ordinary Shares of 15 pence each in the Company (Shares).
Saga Transformation Plan
Following the approval of the Company's Saga Transformation Plan (the STP) by the Company's shareholders at the 2022 Annual General Meeting (the 2022 AGM), the Company hereby announces the grant of awards to Executive Directors under the STP.
Participation Rights under the STP entitle the participant to receive, subject to the rules of the STP, a proportion (the Participant Proportion) of the Company's Total Shareholder Return above the qualifying hurdle of £6.00.
This value will be delivered through the grant of nil-cost options over Shares after a 5-year performance period.
More details of how the STP operates can be found in the Notice of 2022 AGM which can be found on our website at www.corporate.saga.co.uk/investors/agm.
Details of the award for the Chief Executive Officer and Chief Financial Officer are outlined below.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | 1. Euan Sutherland 2. James Quin | |
| 2 | Reason for the notification | ||
| a) | Position/status | 1. Director, Group Chief Executive Officer 2. Director, Group 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 | Saga plc | |
| b) | LEI | 2138004WWUJN94K2LH95 | |
| 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 Identification code | Ordinary shares of 15 pence | |
| GB00BMX64W89 | |||
| b) | Nature of the transaction | 1. Grant of a conditional right, subject to the rules of the STP, to receive the value by which the Company's Total Shareholder Return exceeds the qualifying hurdle of £6.00, multiplied by 12.5% to form the STP Pool. This is then multiplied by a Participation Proportion of 17.5%* (the CEO Award Value). The CEO Award Value will be delivered following the assessment of the Company's total shareholder return after the 5-year performance period by the grant of a nil-cost option over Shares. 2. Grant of a conditional right, subject to the rules of the STP, to receive the value by which the Company's Total Shareholder Return exceeds the qualifying hurdle of £6.00, multiplied by 12.5% to form the STP Pool. This is then multiplied by a Participation Proportion of 10.5%* (the CFO Award Value). The CFO Award Value will be delivered following the assessment of the Company's total shareholder return after the 5 year performance period by the grant of a nil-cost option over Shares. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £Nil 2. £Nil | 1. Nil 2. Nil | ||
| d) | Aggregated information - Aggregated volume - Price |
n/a | |
| e) | Date of the transaction | 7 July 2022 | |
| f) | Place of the transaction | London | |
*The Participation Proportion for the CEO and CFO as stated in the Directors' Remuneration Policy has been reduced by 0.5% each, following a request from the CEO and CFO to ensure there is sufficient capacity for other participants to share in the STP.
Enquiries
| Saga plc Enbrook Park Sandgate Folkestone Kent CT20 3SE | Vicki Haynes Company Secretary 01303 771 199 |
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