Polymetal: Vesting of the 2016 performance share plan awards
Polymetal International plc (POLY)
Polymetal: Vesting of the 2016 performance share plan awards
01-May-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Release time
IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY
Date
1 May 2020
Polymetal International plc
Vesting of the 2016 performance share plan awards
Polymetal announces that 2016 share awards under the Company's Performance Share Plan ("PSP"), part of the Company's Long-Term Incentive Plan, have vested.
During the four-year performance period ending 28 April 2020 for the PSP awards made in 2016, Polymetal achieved a positive absolute Total Shareholder Return ("TSR") of 107.9% and outperformed a median TSR of 49.7% of the FTSE Gold Mines Index constituents. As a result, Polymetal ranked 7th by TSR out of 45 index participants.
Accordingly, the 2016 performance share awards have partially vested with 89.7% of the total awards being granted, which includes 75.9% vesting percentage based on the TSR performance and additional share awards for the dividend equivalent paid during the 4-year performance period.
1,407,784 ordinary shares were issued and distributed to 267 participants of the PSP on 30 April 2020, representing 0.30% of the Company's increased share capital. The newly issued shares have a market value of US$28.6 million, based on the closing price as of 30 April 2020.
"In its third year our PSP programme rewards performance of Polymetal's employees which have significantly contributed to strong shareholder returns", said Vitaly Nesis, Group CEO of Polymetal.
Performance Share Plan
Under the PSP, awards are released following a four-year performance period (with an additional mandatory holding period of one year following vesting), subject to certain performance measures being met. The vesting of awards is based on the Company's TSR measured against the TSR of the FTSE Gold Mines Index constituents, as well as the Company's absolute TSR over the same performance period. The vesting conditions were set as follows:
0% vests for below median performance; 20% vests at median performance; 100% vests at top decile performance and above; and Straight line vesting in between median and top decile. No award vests if an absolute TSR is negative even if performance is above median.No consideration is payable for the vesting of the awards by the beneficiaries. In certain cases of Good Leaver Circumstances, the award will usually vest as normal in accordance with the terms of the award. Alternatively, the Board may determine that the award will vest immediately. For more details on the PSP, please see Polymetal's 2019 Annual Report and Accounts available on the Company's website at www.polymetalinternational.com. Further to the 2016 award vesting, shares transferred to the Group CEO and Persons Discharging Managerial Responsibilities ("PDMRs") are presented in the table below:
Name
Position
Number of shares vested
Additional share awards for dividend equivalents
Shares granted under 2016 PSP award
Total shareholding of employee following vesting of 2016 award
Vitaly Nesis
Director
36,797
6,694
43,491
3,327,768
Vitaly Savchenko
PDMR
13,210
2,402
15,612
78,590
Sergey Trushin
PDMR
10,403
1,893
12,296
65,000
Roman Shestakov
PDMR
9,435
1,717
11,152
52,986
Pavel Danilin
PDMR
11,347
2,064
13,411
88,818
Igor Kapshuk
PDMR
7,572
1,378
8,950
54,169
Valery Tsyplakov
PDMR
12,228
2,224
14,452
266,528
Maxim Nazimok
PDMR
10,190
1,854
12,044
61,382
Further to the 2016 award vesting, outstanding awards under the PSP are:
Name
Position
Outstanding awards under 2016-2020 PSP
2016 PSP awards release
Total number of outstanding awards under the PSP
Vitaly Nesis
Director
247,049
48,507
198,542
Vitaly Savchenko
PDMR
101,182
17,413
83,769
Sergey Trushin
PDMR
80,171
13,714
66,457
Roman Shestakov
PDMR
78,866
12,438
66,428
Pavel Danilin
PDMR
83,807
14,958
68,849
Igor Kapshuk
PDMR
63,232
9,982
53,250
Valery Tsyplakov
PDMR
84,889
16,119
68,770
Maxim Nazimok
PDMR
82,084
13,433
68,651
Applications have been submitted to the London Stock Exchange and UKLA on the official list and awarded shares are expected to be admitted to trading on the London Stock Exchange on 6 May 2020. The total issued share capital of the Company will comprise 471,791,037 ordinary shares of no par value, each carrying one vote.
About Polymetal
Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.
Enquiries
Media
Investor Relations
FTI Consulting
Leonid Fink
Viktor Pomichal
+44 20 3727 1000
Polymetal
Evgeny Monakhov
Timofey Kulakov
Kirill Kuznetsov
+44 20 7887 1475 (UK)
+7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan Stanley & Co. International plc
Andrew Foster
Richard Brown
Panmure Gordon
James Stearns
+44 20 7425 8000
+44 20 7886 2500
RBC Europe Limited
Marcus Jackson
Jamil Miah
+44 20 7653 4000
Forward-looking statements
This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Vitaly Nesis
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
43,491
0.00
2016 PSP awards release
0.00
48,507
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Vitaly Savchenko
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
15,612
0.00
2016 PSP awards release
0.00
17,413
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Sergey Trushin
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
12,296
0.00
2016 PSP awards release
0.00
13,714
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Roman Shestakov
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
11,152
0.00
2016 PSP awards release
0.00
12,438
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Pavel Danilin
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
13,411
0.00
2016 PSP awards release
0.00
14,958
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Igor Kapshuk
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
8,950
0.00
2016 PSP awards release
0.00
9,982
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Valery Tsyplakov
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
14,452
0.00
2016 PSP awards release
0.00
16,119
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
1 May 2020
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Maxim Nazimok
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Full name of the entity
Polymetal International plc
b)
Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
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
JE00B6T5S470
b)
Nature of the transaction
Vesting of conditional award under PSP (LTIP)
c)
Price(s) and volume(s)
n/a
d)
Aggregated information
Description of Financial Transaction
Aggregated Price
Aggregated Volume
Total Aggregated Price
Shares granted under 2016 PSP award
0.00
12,044
0.00
2016 PSP awards release
0.00
13,433
0.00
e)
Date of the transaction
30 April 2020
f)
Place of the transaction
London Stock Exchange / Outside a trading venue
ISIN: JE00B6T5S470 Category Code: DSH TIDM: POLY Sequence No.: 61556 EQS News ID: 1034691
End of Announcement EQS News Service