6 April 2023
Ramsdens Holdings PLC
("Ramsdens", the Group, or the "Company")
Director/PDMR Shareholding
Ramsdens, the diversified financial services provider and retailer, announces that on 5 April 2023, the Company adopted its Long‐Term Incentive Plan 6 (the "Plan"). The Plan follows the principles of the Group's existing LTIPs, in recognising the contribution of the management team for the three years to FY25. The intention to grant the potential conditional awards was disclosed in Ramsdens' 2022 Annual Report and Accounts, published on 17 January 2023.
In accordance with the Group's remuneration strategy, the Plan extends to 15 members of the Senior Management Team, as well as CEO Peter Kenyon and CFO Martin Clyburn (the "Executive Directors"). The awards granted over 1p Ordinary Shares in the capital of the Company (the "Shares") are under one incentive plan, however the Plan comprises two types of awards, a wholly conditional award Long Term Incentive Plan (the "LTIP") and a Company Share Option Plan (the "CSOP"). Vested awards under the LTIP are exercisable at 1 pence per share and under the CSOP are exercisable at 230 pence per share.
The Executive Directors have been granted a total of 170,000 shares under the LTIP, to vest in 2026 in accordance with the Plan rules. These shares are subject to the achievement of performance targets, with 50% of any award linked to targeted increases in the Earnings per Share of the Company, and the remaining 50% of any award based on the delivery of
the Total Shareholder Return. These targets will be measured over the three financial years to 30 September 2025.
These grants represent the maximum possible share awards to the Executive Directors should the performance targets be achieved in full. The Plan rules include malus and clawback provisions.
A further 188,000 shares have been issued pursuant to the LTIP scheme to 13 members of the Senior Management Team, including Michael Johnson (Operations Director) and Jason Carr (IT Director) with the same performance criteria and rules.
In addition, 150,000 shares have been issued under the CSOP scheme to 20 members of the Senior Management Team. These awards have no performance criteria but include malus and clawback provisions. Participants who leave the Company before vesting will lose their award, subject to certain limited 'good leaver' conditions.
The following table summarises the awards issued.
| Name | Roll | Number of LTIP shares awarded | Number of CSOP shares awarded |
| Peter Kenyon | CEO (Director) | 100,000 | Nil |
| Martin Clyburn | CFO (Director) | 70,000 | Nil |
| Michael Johnson | Operations Director of trading subsidiary (PDMR)
| 50,000 | Nil |
| Jason Carr | IT Director of trading subsidiary (PDMR)
| 30,000 | 7,500 |
| | A further ten members of the Senior Management Team have been issued both awards | 108,000 | 75,000 |
| | Nine members of the Senior Management Team have been issued CSOP only awards
| Nil | 67,500 |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1.
| Details of the person discharging managerial responsibilities/person closely associated
| ||||
| a) | Name: Peter Kenyon | ||||
| 2. | Reason for the notification
| ||||
| a) | Position/status: CEO | ||||
| b) | Initial notification/Amendment: Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name: Ramsdens Holdings PLC | ||||
| b) | LEI: 2138009OAUOROKMFPK95 | ||||
| 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 1p each.
Identification code: GB00BDR6V192
| ||||
| b) | Nature of the transaction:
Grant of options pursuant to LTIP
| ||||
| c) |
| ||||
| d) | Aggregated information: N/A | ||||
| e) | Date of the transaction: 5 April 2023 | ||||
| f) | Place of the transaction: Outside a trading venue
|
| 1.
| Details of the person discharging managerial responsibilities/person closely associated
| ||||
| a) | Name: Martin Clyburn | ||||
| 2. | Reason for the notification
| ||||
| a) | Position/status: CFO | ||||
| b) | Initial notification/Amendment: Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name: Ramsdens Holdings PLC | ||||
| b) | LEI: 2138009OAUOROKMFPK95 | ||||
| 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 1p each.
Identification code: GB00BDR6V192
| ||||
| b) | Nature of the transaction: Grant of Options pursuant to LTIP
| ||||
| c) |
| ||||
| d) | Aggregated information: N/A | ||||
| e) | Date of the transaction: 5 April 2023 | ||||
| f) | Place of the transaction: Outside a trading venue
|
| 1.
| Details of the person discharging managerial responsibilities/person closely associated
| ||||
| a) | Name: Michael Johnson | ||||
| 2. | Reason for the notification
| ||||
| a) | Position/status: Operations Director of trading subsidiary (PDMR)
| ||||
| b) | Initial notification/Amendment: Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name: Ramsdens Holdings PLC | ||||
| b) | LEI: 2138009OAUOROKMFPK95 | ||||
| 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 1p each.
Identification code: GB00BDR6V192
| ||||
| b) | Nature of the transaction: Grant of options pursuant to LTIP
| ||||
| c) |
| ||||
| d) | Aggregated information: N/A | ||||
| e) | Date of the transaction: 5 April 2023 | ||||
| f) | Place of the transaction: Outside a trading venue
|
| 1.
| Details of the person discharging managerial responsibilities/person closely associated
| ||||
| a) | Name: Jason Carr | ||||
| 2. | Reason for the notification
| ||||
| a) | Position/status: | ||||
| b) | Initial notification/Amendment: Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name: Ramsdens Holdings PLC | ||||
| b) | LEI: 2138009OAUOROKMFPK95 | ||||
| 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 1p each.
Identification code: GB00BDR6V192
| ||||
| b) | Nature of the transaction: Grant of options pursuant to CSOP
| ||||
| c) |
| ||||
| d) | Aggregated information: N/A | ||||
| e) | Date of the transaction: 5 April 2023 | ||||
| f) | Place of the transaction: Outside a trading venue
|
| 1.
| Details of the person discharging managerial responsibilities/person closely associated
| ||||
| a) | Name: Jason Carr | ||||
| 2. | Reason for the notification
| ||||
| a) | Position/status: | ||||
| b) | Initial notification/Amendment: Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name: Ramsdens Holdings PLC | ||||
| b) | LEI: 2138009OAUOROKMFPK95 | ||||
| 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 1p each.
Identification code: GB00BDR6V192
| ||||
| b) | Nature of the transaction: Grant of options pursuant to LTIP
| ||||
| c) |
| ||||
| d) | Aggregated information: N/A | ||||
| e) | Date of the transaction: 5 April 2023 | ||||
| f) | Place of the transaction: Outside a trading venue
|
Enquiries:
Ramsdens Holdings PLC Tel: +44 (0) 1642 579957
Peter Kenyon, CEO
Martin Clyburn, CFO
Liberum Capital Limited (Nominated Adviser) Tel: +44 (0) 20 3100 2000
Richard Crawley
Lauren Kettle
Hudson Sandler (Financial PR) Tel: +44 (0) 20 7796 4133
Alex Brennan
Emily Brooker
About Ramsdens
Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second
hand and new jewellery. Ramsdens does not offer unsecured high-cost short term credit. Headquartered in Middlesbrough, the Group operates from 160 stores within the UK (including 2 franchised stores) and has a growing online presence.
Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.
www.ramsdensplc.com
www.ramsdensforcash.co.uk
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