15 January 2024
Dechra® Pharmaceuticals PLC
(Dechra or the Company)
Notification and public disclosure of transactions by
persons discharging managerial responsibilities (PDMRs)
Dechra Pharmaceuticals PLC announces that following the Court sanctioning the Scheme at the Sanction Hearing on 12 January 2024, the following PDMRs acquired ordinary shares of 1p each in the Company pursuant to awards granted to them under the Dechra Pharmaceuticals PLC Long Term Incentive Plan (the LTIP), the Deferred Bonus Plan 2021 and the Global Save As You Earn Plan 2018 (SAYE) as detailed in the tables below. All shares were subject to the Cash Offer of the Company at £38.75 per share:
Long Term Incentive Plan, SAYE and Deferred Bonus Plan
| Name | Capacity | Date of Grant | Award | Cost | Shares Acquired & Sold |
| Ian Page | Director | 22 September 2020* | Qualifying LTIP* | Nil | 5,372 |
| Ian Page | Director | 22 September 2020* | Qualifying CSOP? | £32.37 | 155 |
| Ian Page | Director | 16 September 2021 | LTIP** | Nil | 18,551 |
| Ian Page | Director | 9 September 2022 | LTIP ** | Nil | 20,193 |
| Ian Page | Director | 20 September 2022 | Deferred Bonus Plan | Nil | 3,580 |
| Ian Page | Director | 19 October 2020 | SAYE | £28.68 | 627 |
| Paul Sandland | Director | 22 September 2020* | LTIP* | Nil | 2,335 |
| Paul Sandland | Director | 16 September 2021 | LTIP** | Nil | 8,600 |
| Paul Sandland | Director | 9 September 2022 | Qualifying LTIP**
| Nil | 9,983 |
| Paul Sandland | Director | 9 September 2022 | Qualifying CSOP ± | £31.99 | 227 |
| Paul Sandland | Director | 20 September 2022 | Deferred Bonus Plan | Nil | 2,293 |
| Paul Sandland | Director | 19 October 2020 | SAYE | £28.68 | 627 |
\* The vesting of the awards was subject to the achievement of performance conditions which were satisfied to the extent that the awards vested at 16.4%.
? Ian Page exercised the linked tax qualifying option at an exercise price of £32.37 as part of his LTIP award. 25 nil cost options were forfeited to the value of that gain.
** Both the EPS and ROCE performance conditions for LTIP awards granted in 2021 and 2022 were deemed to have been met as detailed in the Co-Operation Agreement between the Company and Freya Bidco Limited. The TSR performance conditions was measured for both awards. The awards taking into account all of the performance conditions vested at 90.8% for the 2021 grant and 100% for the 2022 grant. Both awards were pro rata for time.
± Paul Sandland exercised the linked tax qualifying option at an exercise price of £31.99 as part of his LTIP award. 39 nil cost options were forfeited to the value of that gain.
Deferred Bonus Plan 2021 (Cash Settled)
Ian Page and Paul Sandland were granted on 18 October 2023, 1,080 and 715 awards respectively under the Deferred Bonus Plan 2021. These were cash settled in accordance with the Co-Operation Agreement between the Company and Freya Bidco Limited.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the UK Market Abuse Regulation.
Notification of Dealing Forms
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 5,372 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £32.37 | Volume(s) 155 |
| d) | Aggregated information - Aggregate volume - Price - Total |
155 £32.37 £5,017.35 | |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 18,551 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 20,193 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Deferred Bonus Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 3,580 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Ian Page
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Global Save As You Earn Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £28.68 | Volume(s) 627 |
| d) | Aggregated information - Aggregate volume - Price - Total |
627 £28.68 £17,982.36 | |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 2,335 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 8,600 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 9,983 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £31.99 | Volume(s) 227 |
| d) | Aggregated information - Aggregate volume - Price - Total |
227 £31.99 £7,261.73 | |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Deferred Bonus Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £Nil Cost | Volume(s) 2,293 |
| d) | Aggregated information - Aggregate volume - Price - Total |
N/A
| |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | ||
| a) | Name | Paul Sandland
| |
| 2. | Reason for the notification | ||
| a) | Position/status | Director/PDMR
| |
| b) | Initial notification/ amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Dechra Pharmaceuticals PLC | |
| b) | LEI code | 213800J4UVB5OWG8VX82
| |
| 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
Identification code | Ordinary Shares of 1 pence each
ISIN: GB0009633180 | |
| b) | Nature of the transaction | Acquisition of shares pursuant to the Company's Global Save As You Earn Plan
| |
| c) | Price(s) and volumes(s) | Price(s) £28.68 | Volume(s) 627 |
| d) | Aggregated information - Aggregate volume - Price - Total |
627 £28.68 £17,982.36 | |
| e) | Date of the transaction | 2024.01.15 | |
| f) | Place of the transaction | Outside a trading venue | |
For further information, please contact:
Melanie Hall, Company Secretary
Telephone number: 01606 814730
About Dechra
Dechra is a global specialist veterinary pharmaceuticals and related products business. Our expertise is in the development, manufacture, and sales and marketing of high quality products exclusively for veterinarians worldwide. Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. For more information please visit: www.dechra.com
Trademarks
Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.
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