TIDMSKY
RNS Number : 9429D
Sky PLC
12 October 2018
Sky plc
(the "Company)
12 October 2018
Further to the announcement on 9 October 2018 that the cash
offer made by Comcast Corporation ("Comcast") of GBP17.28 per share
for the entire issued and to be issued share capital of Sky plc
(the "Offer") has been declared wholly unconditional, the Company
has been notified of the following dealings in Sky shares by the
Directors pursuant to the Offer. In total over 13,000 Sky employees
who participate in Sky Share Plans will benefit from the Offer as
their share options vest.
1. The Directors have sold their holding of ordinary shares to
Comcast pursuant to the Offer for GBP17.28 as set out below:
Director Number of shares
Jeremy Darroch 775,772
-----------------
Andrew Griffith 214,278
-----------------
Adine Grate 29,394
-----------------
Matthieu Pigasse 9,275
-----------------
Tracy Clarke* 5,138
-----------------
Martin Gilbert* 9,263
-----------------
Andrew Sukawaty* 5,817
-----------------
* Tracy Clarke, Martin Gilbert and Andrew Sukawaty resigned from
the Board on 9 October 2018.
2. Jeremy Darroch and Andrew Griffith (the "Executive
Directors") have exercised awards in respect of all Sky share
schemes in which they participate:
a. in respect of Long Term Incentive Plan and Co-Investment Plan
awards they will receive a cash payment with equivalent value to
the shares in respect of which their awards vested, in the same
manner as other UK participants in the Long Term Incentive Plan and
Co-Investment Plan; and
b. in respect of Sharesave, the Executive Directors have
accepted the Offer and sold the resulting shares received on
exercise to Comcast for GBP17.28 in the same manner as other UK
Sharesave participants.
Details of their awards are set out below:
Director Plan Grant date Total number Exercise
of shares price
vesting
Long Term
Incentive
Jeremy Darroch Plan(i) 29/07/2016 450,600 Nil
--------------- -------------- ------------- ----------
27/07/2017 450,600 Nil
--------------------------------- -------------- ------------- ----------
27/07/2018 55,260 Nil
--------------------------------- -------------- ------------- ----------
Co-Investment
Plan 01/09/2014 141,824 Nil
--------------------------------- -------------- ------------- ----------
28/08/2015 132,307 Nil
--------------------------------- -------------- ------------- ----------
31/08/2016(i) 133,649 Nil
-------------- ------------- ----------
01/09/2017(i) 64,490 Nil
-------------- ------------- ----------
28/08/2018(i) 8,575 Nil
--------------------------------- -------------- ------------- ----------
Sharesave(ii) 30/09/2014 1,588 GBP7.08
--------------------------------- -------------- ------------- ----------
Long Term
Incentive
Andrew Griffith Plan(i) 29/07/2016 262,850 Nil
--------------- -------------- ------------- ----------
27/07/2017 262,850 Nil
--------------------------------- -------------- ------------- ----------
27/07/2018 32,235 Nil
--------------------------------- -------------- ------------- ----------
Co-Investment
Plan 01/09/2014 66,672 Nil
--------------------------------- -------------- ------------- ----------
28/08/2015 62,475 Nil
--------------------------------- -------------- ------------- ----------
31/08/2016(i) 63,109 Nil
-------------- ------------- ----------
01/09/2017(i) 30,452 Nil
-------------- ------------- ----------
28/08/2018(i) 4,049 Nil
--------------------------------- -------------- ------------- ----------
Sharesave(ii,
iii) 01/12/2017 299 GBP7.52
--------------------------------- -------------- ------------- ----------
Notes:
i. The number of shares that vested on the Offer going wholly
unconditional was subject to time pro-ration from the start of the
performance period to 9 October 2018, the date the Offer went
wholly unconditional. Withholding for tax will be operated on the
cash payments received by the Executive Directors. This is the same
treatment for all UK participants in the Long Term Incentive Plan
and Co-Investment Plan.
ii. The number of shares that vested on the Offer going wholly
unconditional was dependent on the extent of the Executive
Directors' accumulated savings at the date of exercise. In
accordance with the proposals under the Offer, Sky will make an
additional payment equal to the difference between GBP17.28 per
share and the exercise price per share multiplied by the proportion
of Sky shares which lapse. This payment will be subject to income
tax and NI deductions. This is the same treatment for all UK
participants in the Sharesave Schemes.
iii. The consideration payable by Comcast to Andrew Griffith for
shares received on the exercise of his Sharesave option granted in
2017 will be subject to deductions for income tax. This is the same
treatment for all UK participants in the 2017 Sharesave.
3. Following the above transactions, the Directors have no remaining interests in Sky shares.
4. The Company's Sharesave Scheme is operated in the UK,
Ireland, Germany, Austria and Italy and over 13,000 employees
participate. Employees have exercised options at discounted option
prices between GBP6.08 - GBP8.17 per share in connection with the
Offer, making a gain on the difference between the option price and
the GBP17.28 Offer price.
For further information please contact:
Analysts/Investors
Robert Kingston +44 20 7032 3726
Media
Gavin Davis +44 20 7032 7115
The notifications below are made in accordance with the
requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeremy Darroch
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Group Chief Executive Officer
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Sky plc
-------------------------- -----------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise and cash settlement at GBP17.28
per share of pro-rated awards under
the Long Term Incentive Plan pursuant
to the Offer for Sky from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil cost 956,460
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise and cash settlement at GBP17.28
per share of pro-rated awards under
the Co-Investment Plan pursuant to the
Offer for Sky from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil cost 480,845
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise of options under the Sharesave
Scheme pursuant to the Offer for Sky
from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
708.00 pence 1,588
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 775,772
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares resulting
from exercise of Sharesave options
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 1,588
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-12
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Griffith
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Group Chief Operating Officer & Chief
Financial Officer
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Sky plc
-------------------------- -----------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise and cash settlement at GBP17.28
per share of pro-rated awards under
the Long Term Incentive Plan pursuant
to the Offer for Sky from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil cost 557,935
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise and cash settlement at GBP17.28
per share of pro-rated awards under
the Co-Investment Plan pursuant to the
Offer for Sky from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil cost 226,757
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Exercise of options under the Sharesave
Scheme pursuant to the Offer for Sky
from Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
752.00 pence 299
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-11
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast.
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 214,278
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares resulting
from exercise of Sharesave options
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 299
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-12
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Adine Grate
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Independent Non-Executive Director
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Sky plc
-------------------------- -----------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 29,394
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Matthieu Pigasse
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Independent Non-Executive Director
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Sky plc
-------------------------- -----------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 9,275
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tracy Clarke
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Independent Non-Executive Director
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Sky plc
-------------------------- -----------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -----------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 5,138
----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Martin Gilbert
-------------------------- -------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Deputy Chairman, Independent Non-Executive
Director
-------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Sky plc
-------------------------- -------------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- -------------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- -------------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 pence 9,263
----------
-------------------------- -------------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -------------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Sukawaty
-------------------------- ------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Senior Independent Non-Executive Director
-------------------------- ------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Sky plc
-------------------------- ------------------------------------------
b) LEI 2138003TS48MQKF4BZ29
-------------------------- ------------------------------------------
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 Ordinary Shares of 50 pence each in
financial instrument, Sky plc
type of instrument
Identification code ISIN: GB0001411924
-------------------------- ------------------------------------------
b) Nature of the transaction Disposal of ordinary shares pursuant
to acceptance of the Offer for Sky from
Comcast
-------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1728.00 5,817
----------
-------------------------- ------------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- ------------------------------------------
e) Date of the transaction 2018-10-09
-------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHFFFFLEFASESS
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October 12, 2018 10:02 ET (14:02 GMT)
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