Secure Trust Bank PLC
Secure Trust Bank PLC (the "Company")
Grant of awards under the Company's 2017 Long Term Incentive Plan ("LTIP")
On 16 April 2024 the Company granted options over ordinary shares ("Ordinary Shares") under the LTIP to the following PDMRs:
| PDMR | Number of Ordinary Shares over which options granted | Exercise price |
| David McCreadie | 101,322 | £0.40 per Ordinary Share |
| Rachel Lawrence | 70,613 | £0.40 per Ordinary Share |
| John Bevan | 26,234 | £0.40 per Ordinary Share |
| Andrew Phillips | 18,402 | £0.40 per Ordinary Share |
| Geoff Ray | 21,158 | £0.40 per Ordinary Share |
| Julian Hartley | 22,921 | £0.40 per Ordinary Share |
| Katie Docherty | 22,088 | £0.40 per Ordinary Share |
Each option has been granted subject to performance conditions based on sliding scale measures of: (1) the Company's total shareholder return over the performance period relative to the total shareholder return performance of the current constituent companies of the FTSE Small Cap Index (excluding investment trusts) over the same period; (2) return on average equity (target range of 14% - 16% in 2026); (3) earnings per share ('EPS') growth (target range of 3-year compound annual growth rate in continuing EPS in the range of 20% - 30%, measured from 2023 EPS for continuing businesses); and (4) an assessment of the Company's approach to risk management over the performance period.
The performance conditions also include an underpin measure which includes an assessment of general financial performance, shareholder experience, risk management performance and progress against the Group's strategy.
The performance period in each case is a period of three years starting on 1 January 2024 and ending with 31 December 2026.
Each of the four performance conditions noted above accounts for 25% of the option.
Each option will, ordinarily, vest on the date on which the Company's Remuneration Committee of the Board of Directors, determines the extent to which the performance conditions have been satisfied. Each option will be released so that the participant is entitled to exercise the vested Ordinary Shares on the vesting date except in the case of Rachel Lawrence and David McCreadie when the date of release will be at the end of a holding period which shall end on the second anniversary of the vesting date.
The Company further granted options over Ordinary Shares without performance conditions but subject only to the participant's continued service through to the applicable vesting date, but with discretion retained for the Remuneration Committee to potentially reduce the award on settlement if it considers appropriate to do so under the LTIP plan to the following PDMRs:
| PDMR | Number of Ordinary Shares over which award granted | Exercise price |
| Chris Harper | 12,129 | £0.40 per Ordinary Share |
The number of shares under each option was set by reference to a value per Ordinary Share of 701p, which was the 3 day average mid-market price determined between 11 April 2024 to 15 April 2024.
In accordance with the terms of the options, the exercise price payable may be waived before exercise.
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | David McCreadie | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | Director/PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Rachel Lawrence | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | Director/PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | John Bevan | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Andrew Phillips | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Geoff Ray | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Julian Hartley | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Katie Docherty | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost restricted stock option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Chris Harper | ||||
| 2. | Reason for the notification
| |||||
| a) | Position / status | PDMR | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer | |||||
| a) | Name | Secure Trust Bank PLC
| ||||
| b) | LEI | 213800CXIBLC2TMIGI76 | ||||
| 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 40p each in Secure Trust Bank PLC. | ||||
| b) | Identification code | GB00B6TKHP66 | ||||
| c) | Nature of the transaction | Grant of nominal-cost restricted stock option over ordinary shares under the Secure Trust Bank 2017 Long Term Incentive Plan | ||||
| d) | Price(s) and volume(s) |
| ||||
| e) | Aggregated information - Volume - Price | N/A | ||||
| f) | Date of the transaction | 16 April 2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
Lisa Daniels
Company Secretary
Secure Trust Bank PLC
+44 121 693 9100
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