RNS Number : 4201W
Polar Capital Holdings PLC
15 July 2024
 

15 July 2024

 

Polar Capital Holdings plc ("Polar Capital" or the "Company")

 

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

 

Third Vesting of 2019 Long Term Incentive Plan

11 July 2022 was the third anniversary of grant, and the awards granted to Gavin Rochussen, Alexander Black, and Iain Evans under the Long Term Incentive Plan ("LTIP") vested. Details of the original grant on 11 July 2019 are contained in RNS No. 6003F and details of the first two vestings are contained in RNS Nos. 3329S & 9448F.

 

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.

 

Second Vesting of 2019 Conditional Award

11 July 2022 was the third anniversary of grant, and the Conditional Awards granted to Samir Ayub and Nicholas Farren under the Company's Executive Incentive Plan vested. Details of the original grant on 11 July 2019 are contained in RNS No. 6708F and details of the first two vestings are contained in RNS Nos. 3329S & 9448F.

 

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.

 

11 July 2024 was the fifth anniversary of both the LTIP and the Conditional 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 11 July 2024, have been released to the PDMRs.

 

Details of the third vesting of the 2019 LTIP and Conditional 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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

115,610






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

11-07-2024

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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




600.00p

63,111






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

12-07-2024

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Samir Ayub

2

 

Reason for the notification

 

a)

 

Position/status

 

Finance Director

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 2019 conditional award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

3,334






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

11-07-2024

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Samir Ayub

2

 

Reason for the notification

 

a)

 

Position/status

 

Finance Director

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 2019 conditional award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




600.00p

1,820






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

12-07-2024

 

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Alexander Black

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Investment 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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

14,530




e)

 

Date of the transaction

 

11-07-2024

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Alexander Black

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Investment 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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




600.00p

7,932






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

12-07-2024

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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

58,120




e)

 

Date of the transaction

 

11-07-2024

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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




600.00p

31,728






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

12-07-2024

f)

 

Place of the transaction

 

London Stock Exchange, AIM

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Nicholas Farren

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Operating 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 2019 conditional award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

3,334




e)

 

Date of the transaction

 

11-07-2024

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Nicholas Farren

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Operating 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 2019 LTIP Award

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




600.00p

1,820






 

 

d)

 

Aggregated information

Single transaction as in 4 c) above



e)

 

Date of the transaction

 

12-07-2024

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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