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Regulatory Story
Company Direct Line Insurance Group PLC
TIDM DLG
Headline Director/PDMR Shareholding
Released 15:00 03-Apr-2019
Number 0231V15

RNS Number : 0231V
Direct Line Insurance Group PLC
03 April 2019
 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

 

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

 

3 APRIL 2019

 

 

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

All Executive Directors and other PDMRs meet their DLG Share Ownership Guidelines holding requirement immediately after the transactions in this announcement.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Penny James

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

​​​​​​​​Chief Financial Officer and CEO-designate / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Buy-out award. The award vested at 97.335% after the application of performance criteria.  The number of Shares vesting includes additional dividend shares in accordance with the rules of the buyout award.

(ii)         Acquisition of vested Shares; and

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.

 

c)

 

Price(s) and volume(s)

 

 

Price (s)

Volume (s)

(i) & (ii)  Nil

705,872

 

(iii) £3.54155

 

332,593

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

e)

 

Date of the transaction

 

(i) & (ii) & (iii) 1 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Paul Geddes

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

                          

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

 

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

(i) & (ii) Nil

292,672

(iii) £3.6002

 

137,555

 

(iv) £3.6002

    

155,117

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii) 1 April 2019

(iii) & (iv) 2 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Paul Geddes

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Sale of Shares

 

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

£3.53

239,883

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

1 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Mike Holliday-Williams

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director, Personal Lines / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining Shares from remaining balance.

 

c)

 

Price(s) and volume(s)

 

 

Price (s)

Volume (s)

(i) & (ii)  Nil

162,519

 

(iii) 3.6002

 

76,383

(iv) 3.6002

    

86,136

 

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii) 1 April 2019

(iii) & (iv) 2 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Mike Holliday-Williams

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director, Personal Lines / PDMR

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Sale of Shares

 

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

£3.54504

22,000

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

1 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Jonathan Greenwood

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Managing Director, Commercial / PDMR

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

 

 

 

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

 

c)

 

Price(s) and volume(s)

 

 

Price (s)

Volume (s)

(i) & (ii) Nil

90,194

 

(iii) £3.54155

 

42,391

(iv) £3.54155

    

47,803

 

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii), (iii) & (iv) 1 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Simon Linares

2

 

Reason for the notification

 

a)

 

Position/status

 

 

​​​​​​​​​​​​​​​Human Resources Director/ PDMR

 

b)

 

Initial notification /Amendment

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares; and

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.

 

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Sale of Shares

 

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

(i) & (ii)  Nil

111,411

 

(iii) £3.54155

 

52,498

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii) & (iii) 1 April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Steve Maddock

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Operating Officer / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

 

c)

 

Price(s) and volume(s)

 

 

Price (s)

Volume (s)

(i) & (ii)  Nil

126,925

 

(iii) £3.54155

    

59,654

(iv) £3.54155

    

67,271

 

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii) & (iii) & (iv) 1April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Humphrey Tomlinson

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

General Counsel / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

   

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

(i) & (ii) Nil

60,359

(iii) £3.54155

28,368

(iv) £3.54155

31,991

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii), (iii) & (iv) 1April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Jose Vazquez

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Risk Officer / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP;

(ii)         Acquisition of vested Shares;

(iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and

(iv)        Sale of remaining balance of Shares.

 

c)

 

Price(s) and volume(s)

 

 

Price (s)

Volume (s)

 

 

(i) & (ii)  Nil

114,088

 

(iii) £3.54155

    

53,621

(iv) £3.54155

60,467

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

(i) 29 March 2019

(ii) & (iii) & (iv) 1April 2019

f)

 

Place of the transaction

 

 

The London Stock Exchange (XLON)

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Mike Holliday-Williams

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director, Personal Lines / PDMR

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Transfer of Shares to Spouse (Kirstie Holliday-Williams)

 

c)

 

Price(s) and volume(s)

 

 

 

Price (s)

Volume (s)

Nil

190,790

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Not applicable

 

e)

 

Date of the transaction

 

 

2 April 2019

f)

 

Place of the transaction

 

 

London

 

 

For any enquiries relating to this announcement, please contact: 

 

Simon Watson

Deputy Company Secretary

Telephone: 01651 831911

 


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