30 August 2024
Watkin Jones plc
('Watkin Jones' or the 'Company')
Director/PDMR Shareholding
Watkin Jones plc (AIM:WJG) announces that on 30 August 2024, the following nominal-cost share award over ordinary shares of 1 penny each in the Company was granted under the Watkin Jones Long Term Incentive Plan 2018 to the following person discharging managerial responsibilities ('Award'):
| PDMR |
| Position | Number of shares granted under the Award | Total number of shares subject to outstanding LTIP Awards |
| Simon Jones | | Chief Financial Officer | 1,531,728 | 1,531,728 |
The Award has a nominal exercise price of one penny per share and normally becomes exercisable from 21 May 2027, subject to continued employment and performance based on total shareholder return ('TSR') measured against absolute growth targets.
The absolute TSR targets and underlying three year performance period are the same as attached to the LTIP Awards granted to others earlier to this year on 30 January 2024 as previously disclosed. The number of shares under the Award granted to Mr Jones was also calculated by reference to the same reference share price as was used for the January 2024 LTIP Awards (being the Watkin Jones average share price from 1 October 2023 to 29 January 2024).
In addition to assessing performance against the TSR targets, the Remuneration Committee retains discretion to reduce the vesting of the Award to ensure that all relevant factors are taken into account, including the consideration of any windfall gains.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Simon Jones | ||||
| 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 | Watkin Jones plc | ||||
| b) | LEI | 2138009X19O21NU5SG79 | ||||
| 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 Identification code | Ordinary Shares of £0.01 each
ISIN: GB00BD6RF223 | ||||
| b) | Nature of the transaction | Grant of Award under the Watkin Jones Long Term Incentive Plan 2018 | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 30 August 2024 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
- Ends -
For further information:
| Watkin Jones plc |
| |
| Alex Pease, Chief Executive Officer | Tel: +44 (0) 20 3617 4453 | |
| Simon Jones, Chief Financial Officer | ||
| | | |
|
Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) |
Tel: +44 (0) 20 7418 8900 | |
| Mike Bell / Ed Allsopp | ||
| | | |
|
Jefferies Hoare Govett (Joint Corporate Broker) |
Tel: +44 (0) 20 7029 8000 | |
| James Umbers / Paul Bundred
| ||
| | | |
Media enquiries:
| Burson Buchanan |
|
| Henry Harrison-Topham / Steph Whitmore | Tel: +44 (0) 20 7466 5000 |
| watkinjones@buchanan.uk.com | www.bursonbuchanan.com |
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