Source - LSE Regulatory
RNS Number : 1396T
Polar Capital Holdings PLC
20 July 2022
 

20 July 2022

 

Polar Capital Holdings plc ("Polar Capital" or the "Company")

 

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

 

Second Vesting of 2018 Long Term Incentive Plan

On 16 July 2021, being the third anniversary of grant, the awards granted to Gavin Rochussen, John Mansell and Iain Evans under the Long Term Incentive Plan ("LTIP") as part of the Company's Equity Incentive Plan vested. Details of the original grant on 16 July 2018 are contained in RNS No. 7916U and details of the initial vesting are contained in RNS No. 6602F.

 

The terms of the LTIP award provided for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and the achievement of an EPS performance condition by reference to the adjusted diluted total EPS for the year ended 31 March 2021. The EPS performance condition was met in full at the time of vesting.

 

The fourth anniversary of the LTIP award was 16 July 2022, and the shares were released to the participants on 18 July 2022. These awards have been satisfied by the release of shares from the Employee Benefit Trust to the participants. Furthermore, at each vesting date there is a sale of sufficient shares to cover tax liabilities.

 

Details of the second vesting of the 2018 LTIP award and sale of shares for each PDMR is provided below:

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

77,972






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

18-07-2022

f)

 

Place of the transaction

 

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Gavin Rochussen

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




464.50p

44,076






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

18-07-2022

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

John Mansell

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

43,859






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

18-07-2022

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

John Mansell

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




464.50p

24,792






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

18-07-2022

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Iain Evans

2

 

Reason for the notification

 

a)

 

Position/status

 

Global Head of Distribution

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

29,239




e)

 

Date of the transaction

 

18-07-2022

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 the notification

 

a)

 

Position/status

 

Global Head of Distribution

b)

 

Initial notification /Amendment

 

Initial Notification

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 2.5p each



Identification code

GB00B1GCLT25



b)

 

Nature of the transaction

 

 

Sale of shares of the Company on vesting of one third of the 2018 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




464.50p

16,528






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

18-07-2022

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

Enquiries:

 

Polar Capital                                                                              +44 (0)20 7227 2700

Gavin Rochussen (Chief Executive)

Samir Ayub (Finance Director)

 

Numis Securities Limited - Nomad and Joint Broker        +44 (0)20 7260 1000

Giles Rolls (QE)

Charles Farquhar

Stephen Westgate

 

Peel Hunt LLP - Joint Broker                                                   +44 (0)20 3597 8680

Andrew Buchanan

 

Camarco                                                                                     +44 (0)20 7757 4995

Ed Gascoigne-Pees

Jennifer Renwick

Phoebe Pugh              

 

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