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RNS Number : 7873N Reach PLC 09 May 2024
9 May 2024
Reach plc (the "Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
Grant of 2024 Awards under the Reach Long Term Incentive Plan ("LTIP")
On 8 May 2024, the Company granted nil-cost options over ordinary shares of
10p each in the capital of the Company to the following Directors and PDMRs
under the LTIP and the following additional terms.
The number of shares under the LTIP options has been calculated using the
three-month average share price to the date of grant of £0.707 per share.
Vesting of the LTIP options granted in 2024 are subject to the achievement of
performance conditions over a three-year period, as set out on page 126 in the
Company's 2023 Annual Report.
Vested LTIP options held by a Director will also be subject to a post-vesting
holding period of two years. During the holding period, restrictions will
apply to the sale or other disposal of the shares (other than to satisfy any
tax liability).
The notifications below, which has been made in accordance with the
requirements of the Market Abuse Regulation, provides further detail.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jim Mullen
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 Reach plc
b) LEI 213800GNI5XF3XOATR61
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 10p Shares
Identification code GB0009039941
b) Nature of the transaction Grant of nil-cost share options under the Reach Long Term Incentive Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil 1,311,004
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 2024-05-08
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
N/A - single transaction
- Price
e)
Date of the transaction
2024-05-08
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Darren Fisher
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 Reach plc
b) LEI 213800GNI5XF3XOATR61
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 10p Shares
Identification code GB0009039941
b) Nature of the transaction Grant of nil-cost share options under the Reach Long Term Incentive Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil 801,980
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 2024-05-08
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
N/A - single transaction
- Price
e)
Date of the transaction
2024-05-08
f)
Place of the transaction
Outside a trading venue
Enquiries
Reach 020 7293 3000
Laura Harris, Group Company Secretary
Teneo 020 7353 4200
David Allchurch / Giles Kernick
LEI: 213800GNI5XF3XOATR61
Classification: 2.2 Information disclosed under article 19 of the Market Abuse
Regulation.
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