Speedy Hire PLC
23 July 2026
Speedy Hire Plc (the "Company")
Notification of transactions by Persons Discharging Managerial Responsibilities
Today, performance share awards ("PSAs" and each a "PSA") over ordinary shares of 5 pence each in the share capital of the Company ("Shares") were granted under the Company's 2024 Performance Share Plan ("PSP") to the following persons discharging managerial responsibilities ("PDMRs"):
|
Participant |
Position |
No. of Shares over which the PSAs were granted |
Grant Level as a % of Base Salary |
|
Dan Evans |
Chief Executive |
1,999,340 |
75% |
|
Judith Cottrell |
Chief Financial Officer |
1,530,491 |
75% |
In the normal course of events, the PSAs will become exercisable as from the third anniversary of their grant, subject to the grantee's continued service and the extent to which the following earnings per share ("EPS"), free cash flow ("FCF") and total shareholder return ("TSR") related performance conditions have been satisfied:
- 30% of each PSA is subject to EPS performance conditions. 0% to 50% of this part of an award vests on a pro-rata basis for EPS of 4 pence to 5 pence for the financial year ending 31 March 2029. 50% to 100% of this part of an award vests on a pro-rata basis for EPS of 5 pence to 7 pence or more for the financial year ending 31 March 2029;
- 30% of each PSA is subject to FCF performance conditions. 25% of this part of an award vest for FCF of £20m for the financial year ending 31 March 2029 with full vesting of this part of an award for FCF of £32m or more for the financial year ending 31 March 2029. Pro-rata vesting operates between these points;
- 40% of each PSA is subject to a TSR performance condition based on the Group's TSR performance over a three year measurement period commencing on the grant of the PSAs relative to that of the members of a comparator group. The comparator group comprises the constituents of the FTSE SmallCap (excluding investment trusts) at the start of the measurement period. 25% of this part of an award vests if the Company's TSR is ranked at the median of the TSRs of the comparator group, with full vesting of this part of an award for upper quartile performance or better. Pro-rata vesting operates between these points.
Under the terms of the PSA the Company's Remuneration Committee retains discretion to adjust the level of vesting of the PSAs to have regard to exceptional circumstances (this may include but not limited to, overall performance of the Company).
The PSAs were granted in the form of nil-cost options and subject to the rules of the PSP at all times including that these PSA are subject to a post vesting holding period (net of tax) operating to up to the fifth anniversary of grant.
The PSAs were granted under the Company's existing remuneration policy for Directors approved at the Company's 2024 Annual General Meeting.
As further detailed in the recently published 2026 Annual Report, a new Directors' Remuneration Policy is proposed for approval at the 2026 Annual General Meeting to enable for long-term incentive awards to the Company's Executive Directors to comprise a mix of PSAs and restricted share awards subject to underpin conditions ("RSAs"). The full detail of such proposed hybrid award approach, together with supporting rationale, is set out in the Directors' Remuneration Report in the 2026 Annual Report.
Subject to shareholder approval for the new Directors' Remuneration Policy, RSAs are timetabled to be granted to the above participants shortly following the 2026 Annual General Meeting.
The information set out below is provided in accordance with the requirements of UK MAR.
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Dan Evans |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Chief Executive |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Speedy Hire Plc |
||||
|
b) |
LEI |
213800U78SIYAZDYXM61 |
||||
|
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 |
Ordinary shares of 5 pence each |
||||
|
Identification code |
GB0000163088 |
|||||
|
b) |
Nature of the transaction |
Grant of PSA under the Speedy Hire Plc Performance Share Plan 2024 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
|
N/A single transaction |
||||
|
e) |
Date of the transaction |
2026-07-23 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Judith Cottrell |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Chief Financial Officer |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Speedy Hire Plc |
||||
|
b) |
LEI |
213800U78SIYAZDYXM61 |
||||
|
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 |
Ordinary shares of 5 pence each |
||||
|
Identification code |
GB0000163088 |
|||||
|
b) |
Nature of the transaction |
Grant of PSA under the Speedy Hire Plc Performance Share Plan 2024 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
|
N/A single transaction |
||||
|
e) |
Date of the transaction |
2026-07-23 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
Enquiries:
Neil Hunt
Company Secretary
Speedy Hire Plc
Telephone: 01942 720000
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.