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Brady PLC

TR-1: Notification of Major Holdings

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RNS Number : 7962X
Brady plc
01 May 2019
 

1 May 2019

Brady plc

("Brady" or the "Company")

Director/PDMR Shareholding


Brady plc, a leading global provider of trading, risk management and settlement solutions to the commodity and energy markets, announces that Carmen Carey, Chief Executive Officer, has been granted nil cost options over a total of 431,034 new ordinary shares of 1 pence each in the capital of the Company ("Options"), under the Company's 2015 Long Term Incentive Plan ("LTIP"), as announced on 23 September 2015. Following this grant Carmen Carey will hold a total of 431,034 Options. The Options have a two-year holding period (post vesting) and will vest subject to the achievement of certain EBITDA and EPS targets, which are detailed below.

Following these grants, there are a total of 2,134,193 outstanding Options and Awards equivalent to 2.6 per cent of the Company's issued share capital. 

Performance Targets 

Fifty per cent (50%) of the grant is measured against growth in Adjusted EPS and fifty per cent (50%) is measured against growth in Adjusted EBITDA. Growth in Adjusted EPS and growth in Adjusted EBITDA will be measured from the base Financial Year 2018 over three consecutive Financial Years. The Options / Awards will Vest as follows:

Growth Rate

Financial Year 2021
EBITDA
£'000

Financial Year 2021
EPS

(pence)

Vesting % of Award

Threshold %

5,160

2.13

25%

Good %

5,616

2.32

50%

Strong %

6,094

2.52

75%

Outstanding %

6,590

2.72

100%

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

(1)   Carmen Carey

 

2

Reason for the notification

a)

Position/status

(1)   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

Brady plc

b)

LEI

213800W1KBGFLDIWNO70

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 1p each in the Company

 

 

GB00B0188P35

b)

Nature of the transaction

Grant of nil cost Options over Ordinary Shares of 1 pence

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

(1)   Nil cost

 

(2)   431,034

 

 

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

N/A - single transaction

 

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a trading venue

 

For further information, please contact:

Brady plc
Carmen Carey, Chief Executive Officer
Martin Thorneycroft, Finance Director

Telephone: +44(0)1223 479479

 
Cenkos Securities plc - NOMAD and Broker
Mark Connelly - Corporate Finance

 

 

Telephone: +44 (0)20 7397 8900

Newgate Communications
Bob Huxford/ Ian Silvera

Telephone: +44 (0)20 7653 9848

 

 

About Brady


Brady plc (BRY.L) is the largest European‐headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined, soft commodities and agriculturals.

 

Brady has 30 years' expertise in the commodity markets and its clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, tier one banks, a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.


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 [email protected] or visit www.rns.com.
 
END
 
 
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Quick facts: Brady PLC

Price: £0.28

Market: AIM
Market Cap: £22.92 m
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