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Vitec Group PLC(The) (VTC)

Vitec Group PLC(The)

Director/PDMR Shareholding
RNS Number : 6109I
Vitec Group PLC (The)
02 April 2020
 

 

 

2 April 2020

 

THE VITEC GROUP PLC

 

 

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

 

Deferred Bonus Plan (DBP) - 2020 Awards

 

The Vitec Group plc ("the Company") announces that awards under the Deferred Bonus Plan ("DBP") have been made on 1 April 2020 following purchases of ordinary shares of 20 pence each by the following Executive Directors and PDMRs following the deferral of the 2019 bonus. The shares were purchased at a price of £5.81 and will be held by Apex Fund Services in a nominee capacity on behalf of the Executive Directors and PDMRs.

 

For Stephen Bird and Martin Green, 50% of the shares purchased will be held for three years until vesting under the normal operation of the DBP. They have also decided to defer the remaining 50% of their 2019 bonus into shares in the DBP and these will be held by Apex Fund Services in a nominee capacity until 31 December 2020.

 

DBP Shares purchased on behalf of the PDMRs will be held for three years until vesting.

 

There are no performance conditions or matching shares associated with the DBP.  

 

 

Name

Position

Number of shares purchased for 2020 DBP Award

Percentage of 2019 annual bonus deferred

Current shareholding*

% of 2020 salary held for Executive Directors***

Stephen Bird

Group Chief Executive

11,352

100%

271,646 (44,115)**

366%

Martin Green

Group Finance Director 

7,402

100%

91,248 (23,060)

165%

Marco Pezzana

PDMR

2,474

30%

84,435 (14,259)

-

Alan Hollis

PDMR

3,549

30%

73,798 (8,179)

-

Jon Bolton

PDMR

712

20%

42,388 (4,048)

-

 

 

* The number in brackets refers to the number of ordinary shares purchased in the market with funds provided by the Executive Director or PDMR and which are held by Apex Fund Services, the Trustee used to hold shares in respect of awards made under The Vitec Group 2014 Deferred Bonus Plan.

 

** Stephen Bird's current shareholding also reflects 2,000 shares held through a connected person.

 

*** Based on closing mid-market price on 31 March 2020.

 

On the 2 April 2020, the following PDMRs took the remainder of their 2019 Annual Bonus in the form of ordinary shares in the Company based on a share price of £5.81:-

 

Alan Hollis - 8,281 ordinary shares.  As a consequence of this, Alan Hollis now holds 82,079 ordinary shares in the Company (including 8,179 ordinary shares held with Apex Fund Services, under the Deferred Bonus Plan.

 

Marco Pezzana - 5,773 ordinary shares.  As a consequence of this, Marco Pezzana now holds 90,208 ordinary shares in the Company (including 14,259 ordinary shares held with Apex Fund Services, under the Deferred Bonus Plan).

 

Nicol Verheem, PDMR, will also be taking his salary in the form of ordinary shares in the Company from April 2020 onwards and a separate announcement on the details of this will follow.

 

Enquiries:

 

Jon Bolton

Group Company Secretary

Tel: 020 8332 4600

 

A snapshot of The Vitec Group plc

Vitec is a leading global provider of premium branded products and solutions to the fast changing and growing "image capture and content creation" market.

Vitec's customers include broadcasters, independent content creators, photographers and enterprises, and our activities comprise: design, manufacture and distribution of high performance products and solutions including camera supports, camera mounted electronic accessories, robotic camera systems, prompters, LED lights, mobile power, monitors, bags, motion control and noise reduction equipment.

We employ around 1,700 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions.

The Vitec Group plc is listed on the London Stock Exchange with 2019 revenue of £376.1 million.

More information can be found at: www.vitecgroup.com  

LEI number: 2138007H5DQ4X8YOCF14


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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