Marks Electrical Group plc
(the "Company")
Director/PDMR Shareholding
Notification of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated with them
The following notification made under article 19.1 of the Market Abuse Regulation ("MAR") relates to the award of a share option to a PDMR on 14 September 2023 under the Marks Electrical Group plc Performance Share Plan ("PSP"). This announcement is made in accordance with Article 19.3 of MAR.
An award of an option to acquire 424,242 ordinary shares with an exercise price of £0.01 per share was made to Josh Egan, a director and PDMR. The number of shares over which the option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (£0.99).
The option is subject to the rules of the PSP and will vest depending on performance against adjusted earnings per share, total shareholder return and cash flow targets as measured over a three-year performance period.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Josh Egan | ||||
| 2 | Reason for the notification | |||||
| a) | Position/Status:
| PDMR (Chief Financial Officer) | ||||
| b) | Initial Notification/Amendment:
| Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Marks Electrical Group plc | ||||
| b) | LEI: | 2138007KN8TKPIXIQE92 | ||||
| 4. | Details of 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:
| Ordinary Shares of 1 pence each
| ||||
| b) | Identification code: | ISIN: GB00BM8Q5G47 | ||||
| b) | Nature of the transaction:
| Grant of option award pursuant to the Marks Electrical Group plc Performance Share Plan | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated volume: Price: | Single Transaction | ||||
| e) | Date of the Transaction: | 2023-09-14 | ||||
| f) | Place of the Transaction: | XOFF: off-market transaction | ||||
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