Spire Healthcare Group plc
15 May 2024
Notification of Transactions of Persons Discharging Managerial Responsibilities
This notification is made in accordance with DTR 3.1.4R (1) (a) of the Disclosure and Transparency Rules.
Grant of Long Term Incentive Plan (LTIP) awards
The Company announces that, on 15 May 2024, a performance share award over 320,675 shares was granted over the Company's ordinary shares in the form of nil cost options, under the rules of the Company's LTIP, to Harbant Samra following his appointment as Chief Financial Officer and an Executive Director of the Company on 9 May 2024.
The number of shares awarded represents 200% of Harbant Samra's base salary. It is the maximum number which may vest under the LTIP Award following the end of the performance period (31 December 2026). The shareholder-approved Remuneration Policy permits awards of up to 200% of base salary for Executive Directors.
The actual number of shares which vest will depend on the extent to which the relevant performance conditions have been satisfied.
The performance conditions applicable to the LTIP Awards will be based as follows:
· 20% on relative total shareholder return (TSR) performance;
· 35% on ROCE performance;
· 15% on EBITDA Margin performance; and
· 30% on two Operational Excellence measures.
Further details of these performance conditions are disclosed in the 2023 Annual Report and Accounts.
The share price used to determine the number of shares under the LTIP Award was 237.0 pence being the average of the mid-market closing share price over the five trading days ending on 13 March 2024 being the price used to grant awards to other executives as previously announced.
The transaction place is London.
Notes:
1) For Harbant Samra the 2024 LTIP awards described above will also be subject to a further two-year holding period following the vesting date.
2) The actual number of shares which vest under the LTIP awards will depend on the extent to which the relevant performance conditions are satisfied in due course.
3) Harbant Samra holds 34,884 ordinary shares in the Company.
Name of contact and telephone number for queries:
Philip Davies
Head of Secretariat
Spire Healthcare Group plc
Tel: 07803 508348
Notification and public disclosure of transaction by persons discharging managerial responsibility and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name
| Harbant Samra | |
| 2 | Reason for the notification | ||
| a) | Position/status
| Chief Financial Officer/PDMR | |
| b) | Initial notification /Amendment
| Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name
| Spire Healthcare Group plc | |
| b) | LEI | 213800IBJPW3SE2RA350
| |
| 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 1 pence each
GB00BNLPYF73 | |
| b) | Nature of the transaction | Grant of performance share awards under the Company's Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 320,675 | ||
|
| |||
| d) | Aggregated information - Aggregated volume - Price | As above | |
| e) | Date of the transaction | 2024-05-15 | |
| f) | Place of the transaction | XLON | |
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