6 June 2023
Reach plc (the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Grant of 2023 Buy-Out Awards under the Reach Long Term Incentive Plan ("LTIP")
On 6 June 2023, the Company granted nil-cost options over ordinary shares of 10p each in the capital of the Company to Darren Fisher under the LTIP and the following additional terms.
These awards represent a buy-out of awards previously held by Darren Fisher that were forfeited on his joining the Company. The buy-out awards will vest on the original vesting dates of the forfeited awards, subject to Darren's continued employment with Reach up to the relevant vesting dates.
The number of shares under the buy-out awards are equivalent in value to the awards forfeited, calculated using a three-month average share price of 77.71 pence per share.
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 | 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)
|
| ||||||||||||
| d)
| Aggregated information | | ||||||||||||
| | | |||||||||||||
| - Aggregated volume | 394,666 | |||||||||||||
| | | |||||||||||||
| - Price | £nil | |||||||||||||
| | | |||||||||||||
| e)
| Date of the transaction
| 2023-06-06 | ||||||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||||||
Enquiries
| | |
| Reach | 020 7293 3000 |
| Jim Mullen, Chief Executive Officer Lorraine Clover, Group Company Secretary
| |
| Teneo | 020 7353 4200 |
| Giles Kernick | |
| | |
| | |
| LEI: 213800GNI5XF3XOATR61 Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
| |
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