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LEI Number: 213800VFRMBRTSZ3SJ06
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31st March 2025
CHESNARA plc
("Chesnara", "the Company" or the "Group")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ('PDMRs')
Chesnara plc (CSN.L) announces that on 28th March 2025, Group Chief Executive Steven Murray and Group Chief Financial Officer Thomas Howard (each a PDMR) were granted awards over the ordinary shares of the Company under the Chesnara plc 2023 Short Term Incentive Scheme. Further, on that date Steven Murray, Thomas Howard, Gavin Hughes and Al Lonie (each a PDMR) were granted awards over the ordinary shares of the Company under the Chesnara plc 2023 Long Term Incentive Plan. These awards were all made in accordance with the Directors' Remuneration Policy which was approved by shareholders on 16th May 2023.
The notifications for each PDMR below, which are being made in accordance with the requirements of the UK Market Abuse Regulations, provide further detail of the awards granted to each PDMR.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | Steven Murray | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Group Chief Executive Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | GRANT 1 Granted under the Chesnara 2023 Short-term Incentive Scheme. The option is not subject to a performance target.
The option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date.
GRANT 2 Granted under the Chesnara 2023 Long Term Incentive Plan, the option is subject to performance targets over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date.
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| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | GRANT 1 63,558 Ordinary shares of 5p each | ||
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| Nil | GRANT 2 242,754 Ordinary shares of 5p each |
| d) | Aggregated information - Aggregated volume - Price |
- 306,312 ORDINARY SHARES OF 5P EACH - Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2025-03-28 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | Thomas Howard | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Group Chief Financial Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | GRANT 1 Granted under the Chesnara 2023 Short-term Incentive Scheme. The option is not subject to a performance target.
The option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date.
GRANT 2 Granted under the Chesnara 2023 Long Term Incentive Plan, the option is subject to performance targets over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date.
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| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | GRANT 1 30,227 Ordinary shares of 5p each | ||
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| Nil | GRANT 2 129,348 Ordinary shares of 5p each |
| d) | Aggregated information - Aggregated volume - Price |
- 159,575 ORDINARY SHARES OF 5P EACH - Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2025-03-28 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | Gavin Hughes | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Group Chief Risk Officer & Chief Actuary | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | Granted under the Chesnara 2023 Long Term Incentive Plan, the option is subject to performance targets over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 40,957 Ordinary shares of 5p each | ||
| d) | Aggregated information - Aggregated volume - Price |
- 40,957 ORDINARY SHARES OF 5P EACH - Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2025-03-28 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) b) | Natural person: Legal person | Al Lonie | |
| 2 | Reason for the notification | ||
| a) | Position/status: | Group Chief of Staff & Company Secretary | |
| b) | Initial notification/amendment | Initial notification | |
| 3 | Details of the Issuer | ||
| a) | Name | Chesnara plc | |
| b) | Legal Entity Identifier: | 213800VFRMBRTSZ3SJ06 | |
| 4 | Details of the transaction(s): Parts a-d of this section are 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) | Chesnara plc Ordinary Shares of 5 pence each (GB00B00FPT80) | |
| b) | Nature of the transaction | Granted under the Chesnara 2023 Long Term Incentive Plan, the option is subject to performance targets over a period of three financial years.
Subject to the achievement of the performance target, the option will become exercisable on 28th March 2028 and remain exercisable up to and including 28th March 2035 if not exercised before that date. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 37,701 Ordinary shares of 5p each | ||
| d) | Aggregated information - Aggregated volume - Price |
- 37,701 ORDINARY SHARES OF 5P EACH - Nil | |
| e) | Date of the transaction (YYYY - MM - DD) | 2025-03-28 | |
| f) | Place of the transaction | XOFF | |
| Name of authorised official of issuer responsible for making notification: - Al Lonie, Group Chief of Staff & Company Secretary
Date of notification: - 31st March 2025
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The above notification is made in accordance with the requirements of the UK Market Abuse Regulation.
For further information, please contact:
Investor Enquiries
Sam Perowne
Head of Strategic Development & Investor Relations
Chesnara plc
E - sam.perowne@chesnara.co.uk
Media Enquiries
Roddy Watt
Director, Capital Markets
FWD
T - 020 7280 0651 / 07714 770 493
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara (CSN.L) is a European life and pensions consolidator listed on the London Stock Exchange. It administers just under one million policies and operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands and as Movestic in Sweden.
Following a three-pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in the UK, Sweden and the Netherlands and by undertaking value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 20 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).
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