LEI: 549300XVXU6S7PLCL855
For
immediate release
28
June 2024
Liontrust Asset Management
Plc
("Liontrust" or the
"Company")
Notification of transactions
of persons discharging managerial responsibilities
("PDMR")
Grant of LTIP
Options
Liontrust announces that on 27 June
2024 it granted awards of nil price options ("Options") over the Company's ordinary
shares of 1p each ("Shares") to John Ions, Chief Executive
Officer, and Vinay Abrol, Chief Financial Officer. John Ions and
Vinay Abrol are both PDMRs. The details of the Options granted are
as follows:
PDMR
|
Number of Options
|
John Ions
|
153,130
|
Vinay Abrol
|
112,295
|
The Options are granted in
accordance with the rules of the Company's Long Term Incentive Plan
for its Executive Directors and are subject to stretching
performance targets based on total shareholder return and earnings
per share. The performance period will be from 1 April 2024 to 31
March 2027. The performance measures are:
(i)
Diluted adjusted earnings (excluding performance fees) per share
(60%)
Starting EPS (Diluted Adjusted EPS
excluding performance fees): 74.82p for the financial year ending
31 March 2024. End of the performance period is the financial year
ending 31 March 2027.
Performance will be assessed against
the following targets:
EPS
growth p.a.
|
Vesting (% of maximum)
|
Entry level performance:
8.5%
|
10%
|
Target performance: 11%
|
50%
|
Stretch performance:
16.75%
|
100%
|
There will be straight line vesting
between performance level thresholds. Nil vesting for performance
below entry level.
(ii)
Relative TSR growth versus FTSE250 ex-IT (40%)
Performance will be assessed against
the performance of the constituents of the FTSE250 index.
Performance will be assessed against the following
targets:
Relative TSR growth versus FTSE250
|
Vesting (% of maximum)
|
Entry level performance: median
performance
|
10%
|
Stretch performance: upper quintile
performance
|
100%
|
There will be straight line vesting
between entry level and stretch performance. Nil vesting for
performance below entry level.
Subject to the achievement of these
targets and the PDMRs remaining in employment with the Company, the
Options will vest three years after the date of grant. A holding
period of two years from the date of vesting will apply to the
Options and any Shares acquired pursuant to them, subject to the
participant being permitted to sell Shares to cover any tax
liabilities arising on exercise of an Option.
Formal notifications in respect of
the PDMRs are set out below in accordance with the requirements of
the Market Abuse Regulation.
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
a)
|
Name
|
John
Ions
|
2
|
Reason for the notification
|
a)
|
Position/status
|
PDMR (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
|
Liontrust Asset Management
Plc
|
b)
|
LEI
|
549300XVXU6S7PLCL855
|
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 1p
each
|
|
|
Identification code
|
GB0007388407
|
|
|
b)
|
Nature of the transaction
|
Grant of nil price options under the
Liontrust Long Term Incentive Plan
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
Nil
|
153,130
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
- Aggregated volume
|
Not applicable
|
|
|
- Price
|
|
|
|
e)
|
Date of the transaction
|
27 June 2024
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
a)
|
Name
|
Vinay Abrol
|
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 participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Liontrust Asset Management
Plc
|
b)
|
LEI
|
549300XVXU6S7PLCL855
|
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 1p
each
|
|
|
Identification code
|
GB0007388407
|
|
|
b)
|
Nature of the transaction
|
Grant of nil price options under the
Liontrust Long Term Incentive Plan
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
Nil
|
112,295
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
- Aggregated volume
|
Not applicable
|
|
|
- Price
|
|
|
|
e)
|
Date of the transaction
|
27 June 2024
|
f)
|
Place of the transaction
|
Outside a trading venue
|
For further information please
contact:
Teneo (Tel: 020 7353 4200, Email:
liontrust@teneo.com)
Tom Murray, Colette Cahill, Jessica
Pine
Liontrust Asset Management
Plc (Tel: 020 7412 1700, Website:
liontrust.co.uk)
Stephen Corbett: Head of Investor
Relations
Simon Hildrey: Chief Marketing
Officer
Singer Capital Markets (Tel: 020
7496 3000)
Corporate Broking: Charles
Leigh-Pemberton
Corporate Finance: James
Moat
Panmure Gordon (Tel: 020 7886
2500)
Corporate Broking: David
Watkins
Corporate Advisory: Atholl
Tweedie
HSBC Bank plc (Tel: 020 7991
8888)
Corporate Broking: Sam McLennan,
James Hopton
Corporate Advisory: Alexander
Paul
ENDS