Notification of Transactions of Directors
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The following notification relates to the vesting and exercise of nil cost share options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2019 and 5th October 2020. These options vested on 28th June 2022 and 5th October 2023 respectively and were exercised and settled as set out below.
In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment. This only applied to directors who already satisfy the Company's shareholding requirement. In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.
2019 DSBP
| Name | Number of shares awarded on 28 th June 2019 | Number of shares vested and exercised on 5 th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
| Alan Dunsmore | 50,724 | 57,884 | £16,595 | n/a | 30,678 |
| 2020 DSBP | |||||
| Name | Number of shares awarded on 5 October 2020 | Number of shares vested and exercised on 5 th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
| Alan Dunsmore | 194,314 | 222,158 | £63,693 | £71,823 | 0 |
| Derek Randall | 164,474 | 188,042 | £30,425 | £84,280 | 0 |
| Adam Semple | 127,410 | 145,667 | £41,763 | n/a | 77,203 |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Alan Dunsmore | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | CEO | |||
| b) | Initial notification/Amendment | Initial notification | |||
| a) | Name | Severfield plc | |||
| b) | LEI | 21380025AWPR781CY104 | |||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5p GB00B27YGJ97 | |||
| b) | Nature of the transaction | 1. Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment. 2. Exercise of DSBP award and settlement of that exercise with a cash payment. | |||
| c) | Price(s) and volume(s) | 1. Price Volume Total Share settlement £0.00 30,678 £0 Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) 27,206 £16,595 2. Price Volume Total £0.61(price per share paid to settle the exercise of the DSBP award) 222,158 £135,516 | |||
| d) | Aggregated information - Aggregated volume - Price | Not applicable-single transaction | |||
| e) | Date of the transaction | 2023-10-05 | |||
| f) | Place of the transaction | Outside a trading venue | |||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Derek Randall | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Director | |||
| b) | Initial notification/Amendment | Initial notification | |||
| a) | Name | Severfield plc | |||
| b) | LEI | 21380025AWPR781CY104 | |||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5p GB00B27YGJ97 | |||
| b) | Nature of the transaction | Exercise of DSBP award and settlement of that exercise with a cash payment. | |||
| c) | Price(s) and volume(s) | Price Volume Total £0.61 (price per share paid to settle the exercise of the DSBP award) 188,042 £114,705 | |||
| d) | Aggregated information - Aggregated volume - Price | Not applicable-single transaction | |||
| e) | Date of the transaction | 2023-10-05 | |||
| f) | Place of the transaction | Outside a trading venue | |||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Adam Semple | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | CFO | |||
| b) | Initial notification/Amendment | Initial notification | |||
| a) | Name | Severfield plc | |||
| b) | LEI | 21380025AWPR781CY104 | |||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5p GB00B27YGJ97 | |||
| b) | Nature of the transaction | Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment. | |||
| c) | Price(s) and volume(s) | Price Volume Total Share settlement £0.00 77,203 £0 Cash settlement £0.61 (price per share paid to settle the exercise of the proportion of the DSBP award which is cash settled) 68,464 £41,763 | |||
| d) | Aggregated information - Aggregated volume - Price | Not applicable-single transaction | |||
| e) | Date of the transaction | 2023-10-05 | |||
| f) | Place of the transaction | Outside a trading venue | |||
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