![](https://tracker.live.rns-distribution.com/track.live-rns/5100161_75d1671758db0ed18eba2dbba83793b2.png)
For immediate release
Derwent London plc
("Derwent London"/"the Company")
Notification of interests of Directors and Persons Discharging
Managerial Responsibility ("PDMR")
The Company announces the following changes to the interests of Directors in the Company's ordinary shares of 5p each ('Shares').
Grant of Award
On 11 March 2024, the Company granted the following share-based Awards under the 2023 Derwent London Performance Share Plan (the 'PSP').
Name | Role | PSP Award (Number) |
Paul M Williams | Chief Executive Officer | 67,352 |
Damian M A Wisniewski | Chief Financial Officer | 51,952 |
Nigel Q George | Director | 51,952 |
Emily J Prideaux | Director | 51,952 |
Awards granted under the PSP (structured as nil cost options) will vest on 11 March 2027 but only to the extent that certain performance conditions are satisfied over a performance period which ends on 31 December 2026. No consideration is payable on the grant or vesting of an Award.
Following vesting and subject to the Company's share dealing procedures, PSP Awards can be exercised at any time up until the tenth anniversary of grant.
The Directors are each required to retain their net of tax liability number of vested Shares (if any) delivered under their Award for at least two years from the point of vesting (the 'Holding Period') and are each entitled to additional vesting shares for dividend equivalents in respect of dividends paid on vested shares between the grant date and the date of vesting.
This announcement is made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure and Transparency Rules.
The Company was notified of the grant of all Awards on 11 March 2024.
Enquiries:
D A Lawler
Company Secretary
11 March 2024
020 7659 3000
The information set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
1. | Details the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Paul M Williams | |||||||
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 | Derwent London plc | |||||||
b) | LEI | 213800BXKQ9KZNUR1M61 | |||||||
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 |
5p Ordinary shares in Derwent London plc
GB0002652740 | |||||||
b) | Nature of the transaction | Grant of a nil cost option award under the 2023 Derwent London Performance Share Plan. | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | |||||||
e) | Date of the transaction | 11 March 2024 | |||||||
f) | Place of the transaction | Outside a trading venue | |||||||
1. | Details the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Damian M A Wisniewski | |||||||
2. | Reason for the notification | ||||||||
a) | Position / status | 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 | Derwent London plc | |||||||
b) | LEI | 213800BXKQ9KZNUR1M61 | |||||||
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 |
5p Ordinary shares in Derwent London plc
GB0002652740 | |||||||
b) | Nature of the transaction | Grant of a nil cost option award under the 2023 Derwent London Performance Share Plan. | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | |||||||
e) | Date of the transaction | 11 March 2024 | |||||||
f) | Place of the transaction | Outside a trading venue | |||||||
1. | Details the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Nigel Q George | |||||||
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 | Derwent London plc | |||||||
b) | LEI | 213800BXKQ9KZNUR1M61 | |||||||
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 |
5p Ordinary shares in Derwent London plc
GB0002652740 | |||||||
b) | Nature of the transaction | Grant of a nil cost option award under the 2023 Derwent London Performance Share Plan. | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | |||||||
e) | Date of the transaction | 11 March 2024 | |||||||
f) | Place of the transaction | Outside a trading venue | |||||||
1. | Details the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Emily J Prideaux | |||||||
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 | Derwent London plc | |||||||
b) | LEI | 213800BXKQ9KZNUR1M61 | |||||||
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 |
5p Ordinary shares in Derwent London plc
GB0002652740 | |||||||
b) | Nature of the transaction | Grant of a nil cost option award under the 2023 Derwent London Performance Share Plan. | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | |||||||
e) | Date of the transaction | 11 March 2024 | |||||||
f) | Place of the transaction | Outside a trading venue | |||||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.