LSL Property Services plc (LSL)
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility (PDMRs) or Connected Persons.
In accordance with DTR 3, LSL was notified on 9 September 2022 that Adam Castleton (Group Chief Financial Officer) acquired 0.2p ordinary shares in LSL on 7 September 2022, following the exercise of options received in 2018 and 2019 pursuant to LSL's Long Term Incentive Plan (LTIP). The details of the exercises are set out in the table below.
2018 LTIP:
The 2018 LTIP grants were by way of nil-cost options in respect of ordinary shares of 0.2p and were subject to performance conditions. These options became exercisable on 29 March 2021.
2019 LTIP:
The 2019 LTIP grants were by way of nil-cost options in respect of ordinary shares of 0.2p and were subject to performance conditions. These options became exercisable on 29 March 2022.
Instructions have been given to sell a proportion of the vested shares in order to account for tax and National Insurance (NI) arising on the vesting of the LTIP awards. The number of shares instructed to be sold on behalf of Adam is set out in the table below.
As an executive director, shares awarded to Adam under the LTIP (after sale to cover to cover tax and NI liabilities on exercise) are subject to a two year post-vesting holding period in accordance with LSL's remuneration policy.
Following these exercises, Adam's total shareholding in LSL is set out in the table below.
| Details of Director or PDMR | Number of shares acquired | Number of shares sold (to account for tax and NI) | Total number of shares following transaction(s) (including shares held in LSL's SIP) |
| Adam Castleton (Group Chief Financial Officer) | LTIP 2018: 15,349
| 7,429 |
93,790 |
| LTIP 2019: 135,993
| 65,815 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities/ person closely associated | | ||||
| a) | Name | Adam Castleton | ||||
| 2 | Reason for notification | | ||||
| a) | Position/Status | Group Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | | ||||
| a) | Name | LSL Property Services plc | ||||
| b) | LEI | 213800T4VM5VR3C7S706 | ||||
| 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 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
| b) | Nature of transaction | Shares acquired by exercising options received pursuant to the 2018 LSL LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 7 September 2022 | ||||
| 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
| b) | Nature of transaction | Shares acquired by exercising options received pursuant to the 2019 LSL LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 7 September 2022 | ||||
| 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
Identification code | Ordinary shares of 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
| b) | Nature of transaction | Immediate sale of ordinary shares to cover tax and NI liabilities following exercise of nil-cost options under the 2018 LSL LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
| e) | Date of the transaction | 7 September 2022 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 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 0.2p each in LSL Property Services plc
GB00B1G5HX72 | ||||
| b) | Nature of transaction | Immediate sale of ordinary shares to cover tax and NI liabilities following exercise of nil-cost options under the 2019 LSL LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume Price | Not applicable | ||||
| e) | Date of the transaction | 7 September 2022 | ||||
| f) | Place of the transaction | London Stock Exchange |
For further information, please contact:
Sapna B FitzGerald, Company Secretary
investorrelations@lslps.co.uk
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