Chesnara PLC announced that on 16th April 2024, PDMR Tom Howard, Executive Director and Group Chief Financial Officer designate, was granted awards over the ordinary shares of the Company under the Chesnara plc 2023 Long Term Incentive Plan. The awards were made in accordance with the Directors' Remuneration Policy approved by shareholders on 16th May 2023.
The notification provides further detail of the awards granted, including the nature of the transaction, which involves the option being subject to performance targets over a period of three financial years. If the performance target is achieved, the option will become exercisable on 16th April 2027 and remain exercisable up to and including 16th April 2034 if not exercised before that date. The transaction involved 135,135 ordinary shares of 5p each, with a price of Nil.
Chesnara is a European life and pensions consolidator listed on the London Stock Exchange, administering approximately one million policies. The company operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden. Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. Additionally, it adds value by writing profitable new business in Sweden, the Netherlands, and the UK and by undertaking value-adding acquisitions of either companies or portfolios. The company has increased its dividend for 19 years in succession, showcasing consistent delivery of its strategy.