RNS Number : 3799C
Watkin Jones plc
30 August 2024
 

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)

Price(s)

Volume(s)

Nil

1,531,728

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

www.watkinjonesplc.com



 

Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)

 

Tel: +44 (0) 20 7418 8900

Mike Bell / Ed Allsopp

www.peelhunt.com



 

Jefferies Hoare Govett (Joint Corporate Broker)

 

Tel: +44 (0) 20 7029 8000

James Umbers / Paul Bundred

 

www.jefferies.com




 

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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