Eurowag Director/PDMR Shareholding (2488Z)
12 Maio 2023 - 5:11AM
UK Regulatory
TIDMWPS
RNS Number : 2488Z
Eurowag
12 May 2023
W.A.G payment solutions plc
(the "Company" or "Eurowag")
Notification and public disclosure of transactions by PDMR
Acceptance of Options
W.A.G payment solutions plc (the "Company") a leading
pan-European integrated payments and mobility platform focused on
the Commercial Road Transportation ("CRT") industry, today
announces that on 12 May 2023 the following awards over ordinary
shares of 1 pence each in the Company were accepted by the
following person(s) discharging managerial responsibilities:
Participant Position Award Number of Shares
under Award
Chief Financial Performance Share
Oskar Zahn Officer Award 682,395
----------------- ------------------- -----------------
Chief Financial Buy-Out Related
Oskar Zahn Officer Awards 775,570
----------------- ------------------- -----------------
The Performance Share Award was granted on 20 April 2023 under
the Company's Performance Share Plan and will ordinarily vest on
the third anniversary of its grant, subject to Mr Zahn's continued
service and the extent to which the Performance Share Award's
performance conditions (described below) are satisfied.
The performance vesting of a distinct 60 per cent of the
Performance Share Award (the "EPS Part") will be dependent on the
Company's adjusted basic earnings per share for its financial year
ending 31 December 2025 ("EPS 2025"). One-quarter of the EPS Part
shall vest for EPS 2025 of 11.5 cents and full vesting of the EPS
Part shall apply for EPS 2025 of 14.24 cents or better. Pro-rata
vesting of the EPS Part shall apply between such targets.
The performance vesting of a distinct 40 per cent of the
Performance Share Award (the "TSR Part") will be dependent on the
Company's total shareholder return ("TSR") performance over the
performance period 1 January 2023 to 31 December 2025 relative to
the TSR performance (over the same period) of a comparator group of
companies (the constituents of the FTSE 250 Index (excluding
investment trusts) as at the start of the performance period).
The Performance Share Award is structured as an option with a
nominal option price of 1p per share and is subject to a two-year
post vesting holding period (net of sales for applicable
taxes).
The Buy-Out Related Awards were granted on 20 April 2023 under a
one-off arrangement delivered under the Company's Employee Share
Plan to recognise the value of incentive awards granted by his
previous employer that were forfeited on his departure from his
previous employment.
The Buy-Out Related Awards comprise five distinct Awards as
follows:
Award Notes Normal Vesting Number of Shares
Date under Award
Award Relates to a forfeited time
I based award 10 May 2026 37,689
--------------------------------- ---------------- -----------------
Award Relates to a forfeited time
II based award 8 March 2027 45,240
--------------------------------- ---------------- -----------------
Award Relates to a forfeited deferred
III bonus award 8 March 2024 79,233
--------------------------------- ---------------- -----------------
Award Relates to a forfeited LTIP
IV award 10 May 2024 251,391
--------------------------------- ---------------- -----------------
Award Related to a forfeited LTIP
V award 8 March 2025 362,017
--------------------------------- ---------------- -----------------
The Buy-Out Related Awards shall ordinarily vest on their Normal
Vesting Date subject to Mr Zahn's continued service through to the
relevant dates and in the case of Award IV and Award V to the
extent to which their performance conditions are met.
Award IV is subject to the same EBITDA per share related
performance conditions attached to the main senior awards granted
to others under the Company's Performance Share Plan at the time of
the Company's admission to the London Stock Exchange in 2021. Award
V is subject to the same EPS and relative TSR performance
conditions attached to senior awards granted to others under the
Company's Performance Share Plan in 2022. Full details of such
performance conditions have been previously reported in the
Company's Annual Reports.
The Buy-Out Related Awards are each structured as an option with
a nominal option price of 1p per share and Award IV and Award V are
subject to a two-year post vesting holding period (net of sales for
applicable taxes).
The information set out below is provided in accordance with the
requirements of Article 19(3) of the Market Abuse Regulation (EU)
No 596/2014.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Oskar Zahn
------------------------------- -------------------------------------------
Reason for Notification
2
----------------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------- -------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name W.A.G payment solutions plc
------------------------------- -------------------------------------------
b) LEI 213800HU63CWV5J8YK95
------------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated
4 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 1 pence each
financial instrument, ISIN GB00BLGXWY71
type of instrument
Identification code
------------------------------- -------------------------------------------
b) Nature of the transaction Acceptance of awards under (1) the
Company's Performance Share Plan and
(2) a one-off arrangement delivered
under the Company's Employee Share
Plan.
------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 682,395
--------------------
2. Nil 775,570
--------------------
------------------------------- -------------------------------------------
d) Aggregated information
* Aggregated volume 1,457,965
Nil
* Price
------------------------------- -------------------------------------------
e) Date of the transaction 12 May 2023
------------------------------- -------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- -------------------------------------------
ENQUIRIES:
Eurowag
Carla Bloom
Head of Investor Relations and Communications
+44 (0) 789 109 4542
investors@eurowag.com
Instinctif Partners
Tim McCall, Galyna Kulachek, Bryn Woodward
IR and international media +44 (0)20 7457 2020
eurowag@instinctif.com
About Eurowag
Eurowag was founded in 1995 and is a leading pan-European
integrated payments and mobility platform focused on the Commercial
Road Transportation ("CRT") industry. Eurowag's innovative
solutions makes life simpler for small and medium businesses in the
CRT industry across Europe through its unique combination of
payments solutions, seamless technology, a data-driven digital
ecosystem and high-quality customer service.
https://investors.eurowag.com
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END
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May 12, 2023 04:11 ET (08:11 GMT)
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