Director/PDMR Shareholding
12 May 2017
Arrow Global Group PLC (the “Company”)
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR PERSONS CLOSELY ASSOCIATED
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Arrow Global Group Long Term Incentive Plan (“LTIP”) – Exercise of 2014 awards
In respect of the nil-cost options awarded over ordinary shares under the LTIP on 11 March 2014 (“2014 LTIP”), following partial achievement of the performance criteria, 86.04% of the 2014 LTIP awards vested on 11 March 2017. The participants are not required to make any payment for the shares which vested on the achievement of specified performance targets which were measured over the three year period commencing on 1 January 2014.
The following table sets out the number of ordinary shares in the Company which were exercised by PDMRs on 11 May 2017 (“Shares”) under the 2014 LTIP. The Shares set out in the third column below were sold, including those sold to discharge the tax liability on the Shares, on 11 May 2017 at an average price of £3.845per Share, leaving the balance of Shares set out in the final column below:
|
Name of PDMR |
Number of Shares exercised |
Total number of Shares sold, including Shares sold to discharge tax liabilities (and percentage of Company’s issued share capital sold) |
Balance of Shares retained by Director/PDMR |
|
Steve Greenwood |
30,000 |
30,000 |
nil |
|
Stewart Hamilton |
33,416 |
33,416 |
nil |
Vesting of Restricted Share Award
On 11 May 2017, a restricted share award granted to Zachary Lewy on 15 June 2015, vested and 266,008 Shares were released to Mr Lewy.
Mr Lewy sold 125,275 of the released Shares at an average price of £3.845per Share to satisfy the tax liability arising as a result of the vesting, and retained the balance of 140,733 Shares.
Interests of Directors and PDMRs
As a result of the above transactions, the PDMRs are interested in the following ordinary shares in the Company:
|
Name of Director/PDMR |
Aggregate Shares held Beneficially (across all accounts following notifications) (a) (d) (e) |
% of the Company’s Share Capital |
|
Zachary Lewy |
3,794,166 (b)(c) |
2.16 |
|
Steve Greenwood |
3,285 |
0.002 |
|
Stewart Hamilton |
132,947 |
0.08 |
Notes
(a) Excluding unvested LTIP awards of nil cost options.
(b) Includes awards under the Deferred Share Bonus Plan.
(c) Includes restricted share awards.
(d) Includes shares held by Persons Closely Associated.
(e) Includes shares under the Share Incentive Plan.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||
|
a) |
Name |
Zachary Lewy |
||
|
2 |
Reason for the notification |
|||
|
a) |
Position/status |
Founder and Group Chief Investment Officer |
||
|
b) |
Initial notification/ Amendment |
Initial notification |
||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||
|
a) |
Name |
Arrow Global Group Plc |
||
|
b) |
LEI |
213800CUJ6YMLEO33C88 |
||
|
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 1p each ISIN: GB00BDGTXM47 |
||
|
b) |
Nature of the transaction |
Release of shares pursuant to the vesting on 11 May 2017 of a restricted share award granted on 15 June 2015 |
||
|
c) |
Price(s) and volume(s) |
Price(s) N/A – no price was payable for the release of the shares |
Volume(s) 266,008 |
|
|
d) |
Aggregated information |
N/A |
||
|
e) |
Date of the transaction |
11 May 2017 |
||
|
f) |
Place of the transaction |
Outside a trading venue |
||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||
|
a) |
Name |
Zachary Lewy |
||
|
2 |
Reason for the notification |
|||
|
a) |
Position/status |
Founder and Group Chief Investment Officer |
||
|
b) |
Initial notification/ Amendment |
Initial notification |
||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||
|
a) |
Name |
Arrow Global Group Plc |
||
|
b) |
LEI |
213800CUJ6YMLEO33C88 |
||
|
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 1p each ISIN: GB00BDGTXM47 |
||
|
b) |
Nature of the transaction |
Sale of shares to satisfy the tax liability arising as result of the vesting on 11 May 2017 of a restricted share award granted on 15 June 2015 |
||
|
c) |
Price(s) and volume(s) |
Price(s) £3.845 |
Volume(s) 125,275 |
|
|
d) |
Aggregated information |
N/A |
||
|
e) |
Date of the transaction |
11 May 2017 |
||
|
f) |
Place of the transaction |
London Stock Exchange |
||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Stewart Hamilton |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group General Counsel and Company Secretary |
|
|
b) |
Initial notification/ Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Arrow Global Group Plc |
|
|
b) |
LEI
|
213800CUJ6YMLEO33C88 |
|
|
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 1p each ISIN: GB00BDGTXM47 |
|
|
b) |
Nature of the transaction |
Exercise of nil-cost optionsawarded over ordinary shares under the LTIP on 11 March 2014. |
|
|
c) |
Price(s) and volume(s) |
Price(s) N/A – nil-cost options |
Volume(s) 33,416
|
|
d) |
Aggregated information |
N/A |
|
|
e) |
Date of the transaction |
11 May 2017
|
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Stewart Hamilton |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group General Counsel and Company Secretary |
|
|
b) |
Initial notification/ Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Arrow Global Group Plc |
|
|
b) |
LEI
|
213800CUJ6YMLEO33C88 |
|
|
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 1p each ISIN: GB00BDGTXM47 |
|
|
b) |
Nature of the transaction |
Sale of shares following the exerciseof nil-cost options awarded over ordinary shares under the LTIP on 11 March 2014. |
|
|
c) |
Price(s) and volume(s) |
Price(s) £3.845
|
Volume(s) 33,416
|
|
d) |
Aggregated information |
N/A |
|
|
e) |
Date of the transaction |
11 May 2017
|
|
|
f) |
Place of the transaction |
London Stock Exchange |
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Steve Greenwood |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group Chief Risk Officer |
|
|
b) |
Initial notification/ Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Arrow Global Group Plc |
|
|
b) |
LEI
|
213800CUJ6YMLEO33C88 |
|
|
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 1p each ISIN: GB00BDGTXM47 |
|
|
b) |
Nature of the transaction |
Part Exercise of nil-cost optionsawarded over ordinary shares under the LTIP on 11 March 2014. |
|
|
c) |
Price(s) and volume(s) |
Price(s) N/A – nil-cost options |
Volume(s) 30,000
|
|
d) |
Aggregated information |
N/A |
|
|
e) |
Date of the transaction |
11 May 2017
|
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Steve Greenwood |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group Chief Risk Officer |
|
|
b) |
Initial notification/ Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Arrow Global Group Plc |
|
|
b) |
LEI
|
213800CUJ6YMLEO33C88 |
|
|
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 1p each ISIN: GB00BDGTXM47 |
|
|
b) |
Nature of the transaction |
Sale of shares following the part exerciseof nil-cost options awarded over ordinary shares under the LTIP on 11 March 2014. |
|
|
c) |
Price(s) and volume(s) |
Price(s) £3.845 |
Volume(s) 30,000
|
|
d) |
Aggregated information |
N/A |
|
|
e) |
Date of the transaction |
11 May 2017
|
|
|
f) |
Place of the transaction |
London Stock Exchange |
|
ENQUIRIES
|
Arrow Global |
+44 (0)161 242 1724 |
|
Stewart Hamilton (Company Secretary) |
|
END
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