Crest Nicholson Holdings plc
Director/PDMR Shareholding
In accordance with notification obligations under article 19.3 of the Market Abuse Regulation, Crest Nicholson Holdings plc (the "Company") announces the following transactions by certain Directors of the Company and Persons Discharging Managerial Responsibility ("PDMRs") under the Crest Nicholson Holdings plc Long-Term Incentive Plan (the "LTIP") and the Crest Nicholson Holdings plc Deferred Bonus Plan (the "DBP").
On 26 February 2016 certain Directors and PDMRs were granted options under the LTIP and DBP (the "Options") exercisable after three years.
LTIP
On 26 February 2019 25% of the awards granted under the LTIP Options became exercisable following satisfaction of the performance conditions (relating to return on capital employed, and growth in profit before tax per share).
DBP
On 26 February 2019 the awards granted under the DBP also became exercisable following satisfaction of the three-year service period. In accordance with the rules of the plan, as part of the exercise additional shares have been added to each award, equivalent to the dividends payable during the service period.
Exercise of Options
On 12 March 2019, the Directors and PDMRs exercised the Options (over Ordinary Shares of 5 pence each in the Company) ("Shares"). Some Directors and PDMRs sold all the Shares awarded to them, others sold sufficient Shares to meet income tax and national insurance liabilities, retaining the balance or transferring it to Persons Closely Associated with them ("PCA"). The Options were satisfied using shares from the Employee Benefit Trust.
Full details are set out below:
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||
| a) | Name | Stephen Stone | ||||||||||||||||||
| 2
| Reason for the notification | |||||||||||||||||||
| a) | Position/status | Executive Chairman | ||||||||||||||||||
| b) | Initial notification/ Amendment | Initial notification | ||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||
| a) | Name | Crest Nicholson Holdings plc | ||||||||||||||||||
| b) | LEI | 213800ROIFXRRRKVQD25 | ||||||||||||||||||
| 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 £0.05
GB00B8VZXT93 | ||||||||||||||||||
| b) | Nature of the transaction | 1. Award of shares as dividend equivalents to shares over which the above Director and PDMR has an option under the Crest Nicholson Holdings plc Deferred Bonus Plan. 2. Exercise of share awards (LTIP & DBP) and sale of shares to fund the income tax and national insurance liability and retention of balance of shares.
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
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| e) | Date of the transaction | 2019-03-12 | ||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue (award of dividend equivalent shares and exercise of share awards) and XLON (sale of shares) | ||||||||||||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||
| a) | Name | Patrick Bergin | ||||||||||||||||||
| 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 | Crest Nicholson Holdings plc | ||||||||||||||||||
| b) | LEI | 213800ROIFXRRRKVQD25 | ||||||||||||||||||
| 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 £0.05
GB00B8VZXT93 | ||||||||||||||||||
| b) | Nature of the transaction | 1. Award of shares as dividend equivalents to shares over which the above Director and PDMR has an option under the Crest Nicholson Holdings plc Deferred Bonus Plan. 2. Exercise of share awards (LTIP & DBP) and sale of shares to fund the income tax and national insurance liability and retention of balance of shares. | ||||||||||||||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
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| e) | Date of the transaction | 2019-03-12 | ||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue (award of dividend equivalent shares, exercise of share awards and retention of shares) and XLON (sale of shares) | ||||||||||||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||
| a) | Name | Chris Tinker | ||||||||||||||||||
| 2
| Reason for the notification | |||||||||||||||||||
| a) | Position/status | Chairman of Major Projects and Strategic Partnerships | ||||||||||||||||||
| b) | Initial notification/ Amendment | Initial notification | ||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||
| a) | Name | Crest Nicholson Holdings plc | ||||||||||||||||||
| b) | LEI | 213800ROIFXRRRKVQD25 | ||||||||||||||||||
| 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 £0.05
GB00B8VZXT93 | ||||||||||||||||||
| b) | Nature of the transaction | 1. Award of shares as dividend equivalents to shares over which the above Director and PDMR has an option under the Crest Nicholson Holdings plc Deferred Bonus Plan. 2. Exercise of share awards (LTIP & DBP), sale of all DBP shares, and sale of LTIP Shares in part to fund the income tax and national insurance liability and retention of balance of LTIP shares. | ||||||||||||||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
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| e) | Date of the transaction | 2019-03-12 | ||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue (award of dividend equivalent shares, exercise of share awards and retention of shares) and XLON (sale of shares) | ||||||||||||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||||||||||
| a) | Name | Robin Hoyles | |||||||||||||||||||||
| 2
| Reason for the notification | ||||||||||||||||||||||
| a) | Position/status | Group Land and Planning Director | |||||||||||||||||||||
| b) | Initial notification/ Amendment | Initial notification | |||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||
| a) | Name | Crest Nicholson Holdings plc | |||||||||||||||||||||
| b) | LEI | 213800ROIFXRRRKVQD25 | |||||||||||||||||||||
| 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 £0.05
GB00B8VZXT93 | |||||||||||||||||||||
| b) | Nature of the transaction | 1. Award of shares as dividend equivalents to shares over which the above Director and PDMR has an option under the Crest Nicholson Holdings plc Deferred Bonus Plan. 2. Exercise of share awards (LTIP & DBP), sale of shares to fund the income tax and national insurance liability and transfer of balance of shares to PCA.
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
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| e) | Date of the transaction | 2019-03-12 | |||||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue (award of dividend equivalent shares, exercise of share awards and transfer of shares) and XLON (sale of shares) | |||||||||||||||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Marion Hoyles | |
| 2 | Reason for the notification | ||
| a) | Position/status | Person Closely Associated with Robin Hoyles, Group Land and Planning Director | |
| b) | Initial notification/ Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Crest Nicholson Holdings plc | |
| b) | LEI | 213800ROIFXRRRKVQD25 | |
| 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 £0.05
GB00B8VZXT93 | |
| b) | Nature of the transaction | Acquisition of Ordinary Shares from spouse for nil consideration | |
| c) | Price(s) and volume(s) | Price(s)
GBP 0.00 | Volume(s)
11,142 |
| d) | Aggregated information - Aggregated volume - Price | Price(s)
GBP 0.00 | Volume(s)
11,142 |
| e) | Date of the transaction | 2019-03-12 | |
| f) | Place of the transaction | Outside a trading venue | |
Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||
| a) | Name | Kevin Maguire | ||||||||||||||||||
| 2
| Reason for the notification | |||||||||||||||||||
| a) | Position/status | Company Secretary | ||||||||||||||||||
| b) | Initial notification/ Amendment | Initial notification | ||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||
| a) | Name | Crest Nicholson Holdings plc | ||||||||||||||||||
| b) | LEI | 213800ROIFXRRRKVQD25 | ||||||||||||||||||
| 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 £0.05
GB00B8VZXT93 | ||||||||||||||||||
| b) | Nature of the transaction | 1. Award of shares as dividend equivalents to shares over which the above Director and PDMR has an option under the Crest Nicholson Holdings plc Deferred Bonus Plan. 2. Exercise of share awards (LTIP & DBP) and sale of shares in part to fund the income tax and national insurance liability and retention of balance of shares.
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
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| e) | Date of the transaction | 2019-03-12 | ||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue (award of dividend equivalent shares and exercise of share awards) and XLON (sale of shares) | ||||||||||||||||||
For further information please contact:
Kevin Maguire
Company Secretary +44 (0) 1932 580 555
13 March 2019