19 July 2023
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Third Vesting of 2018 Long Term Incentive Plan
16 July 2021 was the third anniversary of grant, and the awards granted to Gavin Rochussen and Iain Evans under the Long Term Incentive Plan ("LTIP") vested. Details of the original grant on 16 July 2018 are contained in RNS No. 7916U and details of the initial vesting are contained in RNS No. 6602F.
The terms of the LTIP award provided for vesting in equal tranches on the third, fourth and fifth anniversaries of grant, subject to continued employment and performance conditions.
16 July 2023 was the fifth anniversary of both the LTIP Awards, and a further tranche of shares were released to the participants. These releases have been satisfied from shares held in the Employee Benefit Trust; at each vesting date there is a sale of sufficient shares to cover tax liabilities.
As the fifth anniversary of grant has now been reached, the net number of shares retained from the first and second vestings under the Holding Period, along with the net shares from the third vesting on 16 July 2023, have been released to the PDMRs.
Details of the third vesting of the 2018 LTIP awards and the sale of shares for each PDMR are provided below:
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Gavin Rochussen | |||
| 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
| Polar Capital Holdings plc | |||
| b)
| LEI
| 549300OXX7YE1947B825 | |||
| 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 2.5p each | |||
| | | ||||
| Identification code | GB00B1GCLT25 | ||||
| | | ||||
| b)
| Nature of the transaction
| Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 77,974 | | |
| | | | |
| |
| d)
| Aggregated information | Single transaction as in 4 c) above | |||
| | | ||||
| e)
| Date of the transaction
| 16-07-2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Gavin Rochussen | |||
| 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
| Polar Capital Holdings plc | |||
| b)
| LEI
| 549300OXX7YE1947B825 | |||
| 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 2.5p each | |||
| | | ||||
| Identification code | GB00B1GCLT25 | ||||
| | | ||||
| b)
| Nature of the transaction
| Sale of shares of the Company on vesting of one third of the 2018 LTIP Award | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 465.8877p | 42,566 | | |
| | | | |
| |
| d)
| Aggregated information | Single transaction as in 4 c) above | |||
| | | ||||
| e)
| Date of the transaction
| 19-07-2023 | |||
| f)
| Place of the transaction
| London Stock Exchange, AIM | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Iain Evans | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Global Head of Distribution | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Polar Capital Holdings plc | |||
| b)
| LEI
| 549300OXX7YE1947B825 | |||
| 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 2.5p each | |||
| | | ||||
| Identification code | GB00B1GCLT25 | ||||
| | | ||||
| b)
| Nature of the transaction
| Acquisition of an interest in the shares of the Company on vesting of one third of the 2018 LTIP Award | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 29,241 | | |
| | | ||||
| e)
| Date of the transaction
| 16-07-2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Iain Evans | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Global Head of Distribution | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Polar Capital Holdings plc | |||
| b)
| LEI
| 549300OXX7YE1947B825 | |||
| 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 2.5p each | |||
| | | ||||
| Identification code | GB00B1GCLT25 | ||||
| | | ||||
| b)
| Nature of the transaction
| Sale of shares of the Company on vesting of one third of the 2018 LTIP Award | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 465.8877p | 15,963 | | |
| | | | |
| |
| d)
| Aggregated information | Single transaction as in 4 c) above | |||
| | | ||||
| e)
| Date of the transaction
| 19-07-2023 | |||
| f)
| Place of the transaction
| London Stock Exchange, AIM | |||
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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